INSIGNIA FINANCIAL LTD — M&A Activity 2011

Oct 2, 2011

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Supreme Court of Victoria approves Scheme of Arrangement

DKN Financial Group Limited (DKN) is pleased to announce that the Supreme Court of Victoria has today made orders (Court Orders) approving the scheme of arrangement between DKN and its shareholders under 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). This follows the approval of the Scheme by DKN shareholders at the Scheme Meeting held on Tuesday, 27 September 2011.

An office copy of the Court Orders will be lodged with the Australian Securities and Investments Commission on Tuesday, 4 October 2011, at which time the Scheme will become effective. DKN's shares will be suspended from trading on ASX following the close of trading on Tuesday, 4 October 2011.

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

3 October 2011