GENERATION DEVELOPMENT GROUP LIMITED — Legal Proceedings Report 2010

Sep 1, 2010

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ASX / Media Release

AUSTOCK GROUP LEGAL CLAIM BY EDMUND GROVES

2 September 2010 : Austock Group Limited (ASX: ACK) today received a letter of demand from lawyers acting for Mr Edmund Groves, former director of ABC Learning Centres Limited. The letter alleges that on 27 February 2008 Mr Groves gave an order to sell approximately 5 million shares in ACK at market price, that the order was not executed by Austock and that Mr Groves suffered loss as a result. The losses claimed by Mr Groves (including consequential losses of $5.5 million on the subsequent sale of his private helicopter and luxury yacht in September 2009) amount to $10 million.

Austock is seeking external legal advice before responding to the claim. Mr Groves has not yet issued legal proceedings.

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For further information, please contact:

Adrian Hill General Counsel Tel: 03 8601 2046 ahill@austock.com

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, securities and private wealth advisory, as well as investment management businesses, Austock Property and Austock Life. Austock Life manages the successful Imputation Bond product, which allows investors to access a suite of highly-rated global and Australian fund managers via a tax-effective investment platform.

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.