GENERATION DEVELOPMENT GROUP LIMITED — Board/Management Information 2009

Nov 26, 2009

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ASX/Media Release

A NEW ERA FOR AUSTOCK GROUP STEVEN GREGG APPOINTED NEW AUSTOCK CHAIRMAN AND KEVIN CLARKE APPOINTED NON EXECUTIVE DIRECTOR

27 November 2009: Austock Group Limited (ASX: ACK ) has appointed Steven Gregg as its new independent non-executive chairman and Kevin Clarke as an independent non-executive director as part of the company’s new board and in line with Austock’s restructure.

As announced at the recent AGM on 29 October, Austock has been in the process of restructuring its board, looking to bring in new people who can help to lead the company into its next phase.

“Steven Gregg has many years of experience in leading and managing investment banks” said Chris Sadler, who was appointed as Chairman of Austock at the recent AGM. “Steven held many senior positions at ABN Amro in London over an eight year period, one role was Global Head of Investment Banking, and sat on the boards of many of their subsidiaries. He then joined McKinsey & Company where he served as a senior advisor and partner in corporate finance for four years. Since returning to Australia he has worked with investment advisory firm Grant Samuel Group as a consultant. Steven is very excited about the people within Austock and our positioning in the emerging company space. Steven will make an excellent Chairman of Austock and I look forward to working with him.” Mr Gregg replaces Chris Sadler who has led the restructure of the board and will remain on the board as a non-executive director.

Kevin Clarke brings a range of directorship experience to Austock, currently acting as chairman for four companies including mining and construction services specialists Jeminex and the AMPcontrolled Focus Property Services. Prior to this, Mr Clarke was CEO of industrial brands company Alesco Corporation for 11 years, transforming it from a poorly positioned business to maintaining a portfolio of strong industrial franchises built around world leading brands. Mr Clarke is also Sydney-based.

Tim Boyle, managing director of Austock Group, said the appointments would be the start of a new era for the company.

“Steven and Kevin both bring a depth of experience and commercial acumen that is palpable. The calibre of these individuals is remarkable, they will make a substantial contribution to the new Austock. This is a very formidable new guard looking after Austock’s shareholders.”

Mr Gregg graduated from University of New South Wales with a Bachelor of Commerce. Mr Clarke holds a Master of Business Administration from the University of Witwatersrand and a Bachelor of Science (Civil Engineering) from Cape Town University, South Africa.

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Enquiries:

Jenny Dahlsen Investor Relations jdahlsen@austock.com

03 8601 2087 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 and Sydney along with international affiliations. Austock is a Pooled Development Fund that invests in and develops financial services businesses under a tax-efficient structure.