GENERATION DEVELOPMENT GROUP LIMITED — Capital/Financing Update 2008

Nov 6, 2008

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ASX Announcement

AUSTOCK GROUP MARKET UPDATE RE ABC LEARNING CENTRES EXPOSURE

7 November 2008 : Austock Group Limited (ASX:ACK) notes the announcement yesterday that ABC Learning Centres Limited (ABC) and a number of its subsidiaries have been placed into Voluntary Administration and that ABC’s Banking Syndicate has appointed a Receiver.

As previously disclosed, Austock has an exposure to ABC in relation to our property group of businesses which owns childcare centre properties leased on the basis of long term lease agreements to ABC. Austock has received some recent payments from ABC and has some outstanding receivables.

Austock is not in a position at this time to measure the potential effect of the appointment, nor to assess how material or otherwise that effect might be. Management of Austock is undertaking a detailed review of its exposure to ABC and will meet with the receivers to establish the potential effect the appointments may have.

Austock will keep the market informed as to the material outcomes as information comes to hand.

The receivers of ABC were quoted yesterday stating it is their intention to keep ABC’s child care centres open and operating as usual whilst managing the receivership process smoothly.

Tim Boyle

Managing Director, Austock Group

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For further information, please contact:

Jenny Dahlsen Investor Relations Tel: 03 8601 2087 jdahlsen@austock.com Mobile: 0419 339 195

About Austock Group:

Austock Group is an independent, publicly listed diversified investment and financial services group. It has a culture and track record of being prepared to invest to build sustainable returns for its clients and shareholders. Founded in 1991, the company now comprises corporate and securities, private wealth and investment management businesses. Austock has offices in Melbourne, Sydney, Brisbane and Perth along with international affiliations.