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GALE PACIFIC LIMITED M&A Activity 2004

Feb 22, 2004

64963_rns_2004-02-22_5c12ca66-bf7d-40f9-aba7-e36972bd9f31.pdf

M&A Activity

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Completion of acquisition in Germany

On 10 February 2004, Gale Pacific Ltd (Gale) announced that it had received an irrevocable offer from the shareholders of the German based private company Jung Garten & Freizeit Vertriebsgesellschaft mbH ("Jung"), under which the shareholders had offered to sell 100% of the issued shares in Jung to Gale.

Gale completed the purchase as planned on Friday 20 February in Germany.

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GARY S GALE MANAGING DIRECTOR

23 February 2004