GENERATION DEVELOPMENT GROUP LIMITED — Regulatory Filings 2008

Mar 11, 2008

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ASX ANNOUNCEMENT – ASX Code: ACK

12 March 2008

Company Announcements Office ASX Limited

Dear Sir/Madam

AUSTOCK CLARIFIES INACCURATE REPORTS IN THE AUSTRALIAN TODAY

Austock Group Limited (Austock) has not received any correspondence from ASIC, contrary to allegations published in The Australian newspaper today.

The Australian stated:

“The Australian Securities and Investments Commission has written to at least 10 stockbroking firms as part of a crackdown on rumour-mongering, short selling and possible insider trading that has shattered confidence in the stock market.

The regulator has demanded answers from the brokers – thought to include UBS, Merrill Lynch and Austock…”

Austock today confirmed that in fact no such correspondence has been received, and we are not aware of any reason why Austock would be the target of an ASIC investigation into these matters.

This article is indeed guilty of the rumour-mongering being alleged in the story.

Yours faithfully

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Adrian Hill General Counsel Austock Group Limited

austock announcement to asx - 120308.doc

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