GENERATION DEVELOPMENT GROUP LIMITED — Major Shareholding Notification 2007

Dec 9, 2007

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4 December 2007

Ms Julia Kagan Senior Adviser, Issuers (Melbourne) ASX Limited

By email: julia.kagan@asx.com.au

Dear Julia

Pre quotation disclosure – statement regarding voluntary escrow

Details of the number of shares subject to escrow and the date these shares are to be released from escrow are as follows:

Details of the num	Details of the num	ber of shares subject t	ber of shares subject t	o escrow and the date t	hese shares are to be re	hese shares are to be re
from escrow are a		s follows:
	Escrow release d	ate	Number of sha	res to be released fro	m escrow
	1 March 2008		240,000
	1Jul2008		596678
	y		,
	14 August 2008		17,866
	1October 2008		4,999,954
	29 November 200	8	22,010,663
	1 July 2009		596,666
	14 August2009		17,863
	1 October 2009		2,101,834
	29November 200		3999562
			,,
	1 June 2010		535713
			,
	1July2010		596,656
	14 August 2010		17,859
	1 October 2010		227,351
	1October 2011		124,999
TOTAL	TOTAL		36,083,664

In addition, and as stated in clause 10.6 of Austock’s prospectus dated 12 November 2007, 10.5 million shares in the Austock Share Ownership Plan (more commonly known as the Employee Share Trust) are presently escrowed. The date these shares are to be released from escrow will depend upon the elections made by the participants under the rules of the Trust. Further details regarding the applicable escrow period will be announced to the market as they become available.

There are 5,153,580 partly paid shares on issue which are escrowed and non-quoted. These shares will be released from escrow and application made to the ASX for their quotation upon becoming fully paid. A call for the unpaid amount is payable on 30 June 2010, however holders of these shares will be provided with opportunities between 1 July 2008 and 30 June 2010 to make payments towards the outstanding amount on these shares.

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As stated in clause 10.5 of the prospectus, up to 111,000 shares will be allotted to employees approximately one week after listing under the Employee Share Acquisition Plan. These shares will be fully escrowed for a period of 3 years from the date of allotment but will be released from escrow earlier, in the event of an employee’s cessation of employment.

Yours faithfully

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Amanda Gawne Company Secretary

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