HITECH GROUP AUSTRALIA LIMITED — AGM Information 2007

Oct 25, 2007

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HiTech Group Australia Limited 2007 Annual General Meeting – 26 October 2007

Chairman’s Address to Shareholders

Welcome to our 8th Annual General Meeting as a publicly listed company.

FY2007 Results

For the financial year ended 30 June 2007, the consolidated entity’s operating revenue for the financial year is $5,073,848 (FY06: $4,890,254). Net profit after taxation (NPAT) is $260,713 (FY06: $24,427).

The above results show a significant improvement over last year’s profit and revenue results and the directors are pleased with that . Revenue has increased by 4% and NPAT by $236,286 (967%).

The above results show a significant improvement over last year’s profit and revenue results. Permanent recruitment has a higher profit margin and has increased by over 60% over the previous year.

HiTech remains profitable, with a strong balance sheet. HiTech continues to win new business and is increasing its client base steadily.

Outlook for FY2008 is positive and promising

The outlook for FY2008 is promising and positive and will depend primarily on the prevailing economic conditions at the time. The improvement in the ICT recruitment sector is positive as there continues to be a shortage of good ICT candidates which is affecting the market significantly and may increase profit margins. We have diversified in non-ICT areas and increased our client base.

So far , I am pleased to say that we have improved profitability in the first quarter of FY2008 compared to the previous corresponding period. Contracting revenue decreased, permanent placement revenue increased and total Net Profit increased.

FY2008 results will depend primarily on whether the initial growth shown in the ICT recruitment sector gains further momentum later this year. Therefore, we expect the results to be in line with or better than the previous year depending on the state of the economy and our particular market conditions at the time.

We continue to explore participation in the rationalisation of the recruitment and ICT industries. HiTech is seeking suitable EPS positive acquisitions in addition to organic growth and we are working on winning more new business in the future.

To sum up, HiTech is increasing its profit and remains resilient with a strong balance sheet, solid cash reserves and no debt.

We are determined to improve our profit and will continue to do our best to improve overall performance and growth.

I thank you all for your support and commitment as shareholders, staff members, candidates, contractors and valued clients.

Ray Hazouri

Chairman and Chief Executive Officer

26 October 2007

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