FINBAR GROUP LIMITED — Capital/Financing Update 2007

Jan 9, 2007

FINBAR INTERNATIONAL LIMITED ACN 009 113 473

Level 3 15 Labouchere Road SOUTH PERTH WA 6151

http://www.finbar.com.au ASX CODE: FRI

10 January 2007

COMPANY ANNOUNCEMENT: FOR IMMEDIATE RELEASE

RE: FINBAR WINS TENDER ON 406 & 407 NEWCASTLE STREET NORTHBRIDGE

We confirm that a Finbar lead joint venture has secured the purchase of two mixed use lots in Northbridge for \$3.83 million.

The company plans to develop two and three story mixed use buildings comprising five commercial units on the ground floor and a mixture of 28, two and three bedroom residential apartments.

A development application will be made within the next three months with the view to commence construction works this calendar year with completion expected in 2009.

A special purpose joint venture entity has been established to acquire the site with Finbar to share equally in the project profit.

Darren Pateman CEO / Company Secretary

FOR FURTHER INFORMATION CONTACT: Mr Richard Rimington, Project Director - rick@finbar.com.au