FIRST AU LIMITED — AGM Information 2011

May 29, 2011

PUBLIC HOLDINGS (AUSTRALIA) LIMITED ABN 65 000 332 918

Annual General Meeting of the Company held at 2pm on Monday 30 May 2011

RACV, Level 2, 501 Bourke Street, Melbourne

Chairman’s Address

The first item on the agenda of the meeting is to receive and consider the 2010 Annual Financial Report, Directors' Report and Auditors' Report. Although no resolution or vote is required on this matter, shareholders are to be given the opportunity to raise questions and comments on the reports.

To assist in dealing with this item this afternoon, I’d like to present my report to shareholders on behalf of the Board. I’ll then open the meeting for general discussions before dealing with the other agenda items.

The Company continues to invest in interest-bearing deposits and listed securities in 2010. Total revenue from continuing operations increased from $259,674 in 2009 to $298,229 in 2010, mainly due to the increase in profit from the sale of listed securities in 2010.

Despite efforts made to improve the Group's wine distribution operation and to rebuild its sales force, the results of this business remained unsatisfactory. As a result, we sold this business in December last year in order to avoid incurring any further loss on this operation.

The net loss for the year of the Group decreased from $839,484 in 2009 to $447,065 in 2010. The 2010 result was impacted by the loss on sale of the Group’s wine operation. Other comprehensive income also reflects a decrease in revaluation of available-for-sale financial assets (shares) due to the disposal of listed securities during the year and a down turn in the value of some of the shares near year end.

The Directors will continue to seek other opportunities that will enhance the

value of its assets.

Before I conclude, I would like to thank Mr David Chu and his staff at ShineWing Hall Chadwick for their assistance in the completion of the Financial Statements for the year ended 31 December 2010, and Mr David McBain for looking after the Company Secretarial function.