INSIGNIA FINANCIAL LTD — M&A Activity 2009

Mar 5, 2009

IOOF Holdings Ltd GPO Box 264 ABN 49 100 103 722 Melbourne VIC 3001 Level 29, 303 Collins St Phone: 13 13 69 Melbourne VIC 3000 www.ioof.com.au

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6 March 2009

Australian Wealth Management Limited – IOOF Holdings Ltd Merger

IOOF Holdings Ltd (“ IOOF ”) notes that the merger contemplated by the Implementation Deed between Australian Wealth Management Limited ( AWM ) and IOOF took a step forward today following Supreme Court of Victoria approval for AWM to convene a general meeting of its shareholders on 22 April 2009 to vote on a proposed scheme of arrangement to implement the merger. This puts the IOOF – AWM merger on track for completion by the middle of May.

Skandia Australia – Intech

IOOF further advises that its acquisition of the “Skandia and Intech” businesses in Australia from Old Mutual (UK) Limited announced on 2 March 2009 was completed today.

For further information, please contact:

Tony Robinson Chief Executive Officer IOOF Holdings Ltd 03 8614 4880