First Graphene Ltd. — Capital/Financing Update 2008

Jun 4, 2008

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5 June 2008

SALE OF SUBSIDIARY

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The Board of Tolhurst Group Limited ( Tolhurst ) wishes to advise that it has entered into a Heads of Agreement pursuant to which it intends to sell all of its shares in Tolhurst Noall Financial Planning Queensland Pty Ltd (TNFPQ) to the original principals of the business for $2.0 million. It is intended that the sale of TNFPQ be settled prior to 30 June 2008. Following the sale, the TNFPQ business will be operated through Tolhurst’s wholly owned dedicated financial planning subsidiary, ComCorp Financial Services Pty Ltd.

To facilitate the sale, the board of Tolhurst has agreed that the voluntary escrow conditions attaching to 358,000 Tolhurst Group Limited shares issued to the vendors of TNFPQ on its acquisition by Tolhurst are to be released from escrow effective from 20 June 2008.

It is intended that the proceeds of sale be used to retire debt and assist in funding acquisition opportunities.

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Michael Deschepper Company Secretary

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