GENERATION DEVELOPMENT GROUP LIMITED — Share Issue/Capital Change 2008

Jun 29, 2008

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

Austock Group Limited

ABN

087 334 370

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1	+Class of+securities issued or to be	Options to acquire ordinary shares
	issued
2	Number of+securities issued or to	500,000
	be issued (if known) or maximum
	number which may be issued
3	Principal terms of the+securities (eg,	Options vest on a date shortly after the release
	if options, exercise price and expirydate; if partly paid+securities, theamount outstanding and due datesforpayment;if+convertiblesecurities, the conversion price and	of the Company’s financial results for thefinancial year ended 30 June 2010, subject tothe satisfaction of service and performanceconditions outlined below.
	dates for conversion)	Options expire at the conclusion of 4 weeks
		commencing3businessdaysafter	the
		announcement of the Company’s financial
		results for the financial year ended 30	June
		2012.

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 1

Continued: Principal terms of the[+] securities (eg, if options, exercise price and expiry date; if partly paid[+] securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Option exercise price is $0.7131.

There are two performance conditions each applying to 50% of each grant of options:

• (1) Relative TSR performance measured over the period 17 May 2008 – 30 June 2010 against a comparator group comprised of the companies ranked 50 places immediately above and below the Company (by market capitalisation) as at 17 May 2008. No options will vest if the Company is ranked below the 51[st] percentile. All options will vest for a ranking at or above the 51[st] percentile.

• (2) EPS growth target over the period 1 July 2008 through 30 June 2010, with 50% of the options becoming exercisable if the average annual EPS growth over the period is 6%, through to 100% vesting for EPS growth at or above 10%.

Each performance condition may be retested once, over a longer performance period (to 30 June 2011). Any options which do not then vest will lapse.

• 4 Do the[+] securities rank equally in all respects from the date of allotment with an existing[+] class of quoted +securities?

N/A

If the additional securities do not rank equally, please state:

• the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration

Nil.

for defined terms.

Appendix 3B Page 2 + See chapter 19

1/1/2003

6Purpose of the issue(If issued as consideration for theacquisition of assets, clearly identifythose assets)7Dates of entering+securities intouncertificated holdings or despatchof certificates8Numberand+classofall+securitiesquotedonASX(_including_the securities in clause 2if applicable)9Numberand+classofall+securities not quoted on ASX(_including_the securities in clause 2if applicable)	Grant of options to Company executives underthe Executive Long Term Incentive Plan.	Grant of options to Company executives underthe Executive Long Term Incentive Plan.	Grant of options to Company executives underthe Executive Long Term Incentive Plan.
	28 June 2008
	Number		+Class
	119,702,129		Fully Paid OrdinaryShares
	Number	+Class
	5,153,580519,000147,600210,840300,0001,200,000600,0005,350,000500,0009,220,000	Partly paid ordinary shares (ACKAI)$1.00 Options expiring 30/6/10 (ACKAK)$0.6768Optionsexpiring30/6/10(ACKAM)$1.20833Optionsexpiring30/6/10(ACKAO)$1.25Optionsexpiring31/10/10(ACKAQ)$1.20833Optionsexpiring31/12/10(ACKAS)$1.40Optionsexpiring31/12/10(ACKAU)$0.7131Optionsexpiringattheconclusion of 4 weeks commencing 3business days after the announcement ofthe Company’s financial results for thefinancial year ended 30 June 2012(ACKAW)$0.7131Optionsexpiringattheconclusion of 4 weeks commencing 3business days after the announcement ofthe Company’s financial results for thefinancial year ended 30 June 2012Share Rights(ACKAY)

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 3

10 Dividend policy (in the case of a N/A trust, distribution policy) on the increased capital (interests)

Part 2 - Bonus issue or pro rata issue

	11Issecurityholderapprovalrequired?12Is the issue renounceable or non-renounceable?13Ratio in which the+securities willbe offered14+Class of+securities to which theoffer relates15+Recorddatetodetermineentitlements16Will holdings on different registers(or subregisters) be aggregated forcalculating entitlements?17Policy for deciding entitlements inrelation to fractions18Names of countries in which theentity has+security holders whowillnotbesentnewissuedocumentsNote: Securit holders must be told how their	11Issecurityholderapprovalrequired?12Is the issue renounceable or non-renounceable?13Ratio in which the+securities willbe offered14+Class of+securities to which theoffer relates15+Recorddatetodetermineentitlements16Will holdings on different registers(or subregisters) be aggregated forcalculating entitlements?17Policy for deciding entitlements inrelation to fractions18Names of countries in which theentity has+security holders whowillnotbesentnewissuedocumentsNote: Securit holders must be told how their	N/A	N/A	N/A
			N/A
			N/A
			N/A
			N/A
			N/A
			N/A
			N/A
	yentitlements are to be dealt with.
	Cross reference: rule 7.7.
	19Closingdateforr	eceiptof
			N/A
	acceptances or renunciati	ons
	20Names of any underwrite	rs	N/A
	21Amount of any underwri	ting fee or	N/A
	commission22Names of any brokers to the issue23Fee or commission payable to thebroker to the issue
			N/A
			N/A

for defined terms.

Appendix 3B Page 4 + See chapter 19

1/1/2003

	24Amount of any handling fee payableto brokers who lodge acceptancesor renunciations on behalf of+security holders25If the issue is contingent on+security holders’ approval, the dateof the meeting26Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitled27If the entity has issued options, andthe terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholders28Date rights trading will begin (ifapplicable)29D ih di ill d if	N/A	N/A	N/A
		N/A
		N/A
		N/A
		N/A
	ate rgts trang w en (applicable)	N/A
	30How do+security holders sell their
		N/A
	entitlements_in full_through abroker?
	31How do+security holders sell_part_
		N/A
	of their entitlements through abroker and accept for the balance?32How do+security holders dispose oftheir entitlements (except by salethrough a broker)?
		N/A
	33+Despatch date
		N/A

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 5

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities ( tick one ) (a) Securities described in Part 1

• (b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders 36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37 A copy of any trust deed for the additional[+] securities

Entities that have ticked box 34(b)

38 Number of securities for which N/A +quotation is sought 39 Class of +securities for which N/A quotation is sought

for defined terms.

Appendix 3B Page 6 + See chapter 19

1/1/2003

• 40 Do the[+] securities rank equally in all N/A respects from the date of allotment with an existing[+] class of quoted +securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 41 Reason for request for quotation N/A now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security) Number +Class

• 42 Number and[+] class of all[+] securities N/A N/A quoted on ASX ( including the securities in clause 38)

• See chapter 19 for defined terms.

24/10/2005 Appendix 3B Page 7

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

  • The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

  • There is no reason why those[+] securities should not be granted[+] quotation.

  • An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

    • Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

  • Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

  • If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

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Sign here: ............................................................ Date: 30 June 2008

Company Secretary

Print name: Amanda Gawne