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GLOBAL MASTERS FUND LIMITED Net Asset Value 2012

Oct 9, 2012

64981_rns_2012-10-09_6057a119-fe63-4a2a-9908-0cdc7e8f0790.pdf

Net Asset Value

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9 October 2012

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Company Announcements Office Australian Stock Exchange Exchange Centre Level 6 20 Bridge Street SYDNEY NSW 1215

Net Tangible Asset Backing at 30 September 2012

The unaudited NTA of the Company was as follows:

Before estimatedtax on unrealisedgains After estimatedtax on unrealisedgains
at 30 September 2012 91.42 ¢ 91.42 ¢
at 31 August 2012 89.91 ¢ 89.91 ¢

The strengthening of the Australian Dollar and British Pound were overshadowed by a rise in share prices of the Berkshire Hathaway shares on the NYSE during the month of September 2012. An increase in the market value of its investment in local shares also contributed to an overall increase in the Net Asset Value per share at 30 September 2012.

For further information please call the Company Secretary on 1300 552 660.

Yours faithfully,

GLOBAL MASTERS FUND LIMITED

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Brian Jones Company Secretary

Global Masters Fund Limited ABN 84 109 047 618

Tel: +61 1300 552 660 Fax: +61 2 8815 5401 Email: [email protected]

Level 1 12 O’Connell Street Sydney NSW 2000 Australia

www.globalmastersfund.com.au