GENERATION DEVELOPMENT GROUP LIMITED — Capital/Financing Update 2012

Jul 11, 2012

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ASX ANNOUNCEMENT

12 July 2012

FOLKESTONE AND AUSTOCK AGREE TO EXTEND DUE DILIGENCE CONDITION PRECEDENT

The Share Sale Agreement between Austock Group Limited (ASX:ACK) and Folkestone Limited (ASX:FLK) contains a condition precedent that Folkestone confirms by the end of 11 July 2012 that it is satisfied with its due diligence enquiries.

Austock and Folkestone have agreed to extend the time for this condition precedent to be met to the end of 18 July 2012.

This extension does not change the overall deal timetable.

For further information regarding this announcement please contact:

Mr Greg Paramor Mr Bill Bessemer Managing Director Chief Executive Officer Folkestone Limited Austock Group Limited 02 8667 2800 03 8601 2000

About Austock Group

Austock Group (ASX:ACK) is a publicly‐listed, diversified investment and financial services group.

About Folkestone a specialist investor,

Folkestone(ASX: FLK) is an ASX listed real estate investment, development and funds management company. Folkestone’s on balance sheet activities focus on value‐add and opportunistic real estate investments and its funds management platform offers funds to private clients, high net worth individuals and select institutional investors.

About Australian Education Trust

Australian Education Trust (“AET”) is the largest Australian listed property trust (ASX:AEU) investing in early learning properties within Australia and New Zealand. At 31 December 2011 the Trust had total assets under management of approximately $355 million and 331 properties in its portfolio.

About The Australian Social Infrastructure Fund

The Australian Social Infrastructure Fund (ASIF) is an ASX listed retail property trust (ASX:AZF) that primarily invests in social infrastructure assets. Its direct property portfolio includes childcare facilities, a medical centre and self storage facility. In addition, ASIF has investments in property securities. As at 31 December 2011, ASIF had total assets of $105.8 million and 51 properties in its portfolio.

About Austock Childcare Fund

The Austock Childcare Fund (“ACF”) is a fixed term unlisted property fund. The Fund's portfolio consists of the freehold interests in 24 childcare centres located in Queensland and South Australia. As at 31 December 2011, ACF had total assets of $26.4 million.

About CIB Fund

The CIB Fund is a closed wholesale unit trust that was established in June 2001. The Fund was primarily set up to enable a group of investors to acquire a portfolio of police and law court buildings. The Fund's current portfolio includes nine 24‐hour police stations and two law court complexes. At 31 December 2011 the Fund had total assets under management of approximately $68 million.