INSIGNIA FINANCIAL LTD — M&A Activity 2011

Oct 3, 2011

==> picture [97 x 82] intentionally omitted <==

Scheme of Arrangement becomes Effective

DKN Financial Group Limited (DKN) announces that it has lodged with the Australian Securities and Investments Commission (ASIC) a copy of the orders made by the Supreme Court of Victoria (Court Orders) approving the scheme of arrangement between DKN and its shareholders by which IOOF Holdings Limited (IOOF) (via its wholly owned subsidiary Austselect Pty Ltd) will acquire all of the fully paid ordinary shares in DKN that IOOF does not already control (Scheme).

As a result of lodgement of the Court Orders with ASIC, the Scheme has now become effective. DKN's shares will be suspended from trading on ASX following the close of trading today.

DKN shareholders who hold shares on the record date for determining entitlements to receive the scheme consideration (5.00 pm on Tuesday, 11 October 2011) will receive 80 cents cash for each DKN share they own (Scheme Consideration). The implementation date for the Scheme is expected to be Monday, 17 October 2011 and the Scheme Consideration is expected to be dispatched to DKN shareholders by Thursday, 20 October 2011.

If you have any questions about the Scheme please call DKN on (03) 9667 0700.

Derek Russell Company Secretary

4 October 2011