GENERATION DEVELOPMENT GROUP LIMITED — Regulatory Filings 2012

Jun 24, 2012

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ASX Announcement

25 June 2012

Initial response to intended takeover offer from Mariner Corporation Limited

Mariner Corporation Limited (Mariner) (ASX:MCX) announced today that it intends to make an unsolicited, conditional, cash takeover offer for Austock Group Limited (Austock) (ASX:ACK) at a price of 10.5 cents per share.

Austock has not been advised of the date it will receive a bidder’s statement and offer document from Mariner, however under the Corporations Act 2001 (Cth) Mariner has two months from today’s announcement within which to issue them.

The Directors will review the documents when received and provide further advice in due course. Meanwhile, shareholders are advised to TAKE NO ACTION in relation to Mariner’s proposal.

For further information please contact:

Bill Bessemer

Chief Executive Officer, Austock Group Limited Telephone: (03) 8601 2027

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Austock Group Limited ABN: 90 087 334 370 Level 12, 15 William Street, Melbourne, Vic 3000 Telephone: 61 3 8601 2000 Facsimile: 61 3 9200 2286 Email: investorrelations@austock.com Website: www.austock.com

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About Austock Group:

Austock Group is an independent, publicly listed 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 investment management businesses. Austock has offices in Melbourne and Sydney.

Austock is a pooled development fund that invests in and develops financial services businesses under a tax-efficient structure.

Austock Property

Austock Property Funds Management Pty Ltd (Austock Property) is a property funds management business built around non-traditional and niche sub-sectors of the property market. Austock Property offers a mix of listed property, wholesale property and unlisted retail property funds to investors. Current market conditions require a conservative approach and Austock Property aims to ensure investments are secured with longterm cash flows, viable tenants, minimal risk and value growth. Our experienced property team currently manages real estate assets of approximately $555 million.

Austock Property has a successful track record in managing real estate assets and is the responsible entity for the ASX listed Australian Education Trust (ASX:AEU), The Australian Social Infrastructure Fund (ASX:AZF) the unlisted Austock Childcare Fund and the wholesale CIB Fund.

The Funds collectively represent over 5,000 institutional and retail unitholders and own in excess of 400 properties across Australia & New Zealand.

Austock Life

Austock Life is one of the leading specialist issuer of insurance bonds. Its core Imputation Bond product offers investors an expansive investment menu and strategy-based avenues for incorporating "tax-paid" lump sums into financial plans to meet life-event objectives. These include education funding, home ownership and estate planning as an accessible alternative to superannuation.

Austock Life operates as a registered life insurance company under the Life Insurance Act 1995 and also holds an Australian Financial Services Licence under the Corporations Act. As an emerging financial products provider, the company’s business strategy is to use its life office structure to design, manufacture and distribute creative "tax-paid" investment products.

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Austock Group Limited ABN: 90 087 334 370 Level 12, 15 William Street, Melbourne, Vic 3000 Telephone: 61 3 8601 2000 Facsimile: 61 3 9200 2286 Email: investorrelations@austock.com Website: www.austock.com