KEYBRIDGE CAPITAL LIMITED — Net Asset Value 2014

Dec 17, 2014

==> picture [594 x 86] intentionally omitted <==

18 December 2014

The Manager ASX Markets Announcements Australian Securities Exchange Exchange Centre Level 4, 20 Bridge Street Sydney NSW 2000

Via Electronic Lodgement

Monthly Net Tangible Assets Per Share - November 2014

Date	Unaudited NTAper share after tax*
30 November 2014	23.4 cents
31 October 2014	23.1 cents

• Based on 158,693,510 shares on issue.

As at 30 November 2014, the value of the Company’s investments by asset class was as follows:

	November 2014	November 2014	October 2014	October 2014
	$ million	% of total	$ million	% of total
Net Cash~~#~~	11.8	32%	12.4	34%
Infrastructure	6.6	18%	6.4	18%
Listed Equity	6.3	17%	5.5	15%
Private Equity	5.9	16%	5.7	16%
Foundation Life	3.5	9%	3.4	9%
Property	2.8	8%	2.8	8%
Lending	0.2	1%	0.2	0%
	37.1	100%	36.5	100%

Net of short-term creditor payment obligations.

Currency Exposure

The approximate breakdown of the Company’s foreign currency assets and liabilities is as follows:

	Assets	Liabilities	Net
USDollars	5.1m	-	5.1m
Euros	4.8m	-	4.8m
NZ Dollar	3.8m	-	3.8m

This net foreign currency asset position means that the Company incurs translation losses when the Australian Dollar appreciates in value against the US Dollar, Euro and NZ Dollar.

==> picture [596 x 57] intentionally omitted <==

==> picture [211 x 51] intentionally omitted <==

==> picture [450 x 270] intentionally omitted <==

----- Start of picture text ----- Investments By Asset ClassLending1%Property8%Foundation Life9%Cash32%Private Equity16%Listed Equity Infrastructure17% 18%----- End of picture text -----

Keybridge Capital is a financial services company that has invested in, or lent to, transactions which predominantly are in the core asset classes of infrastructure, listed equity, private equity, lending and property.

For further information, please contact:

Adrian Martin Chief Financial Officer Tel: +61 2 8622 6692 Email: amartin@keybridge.com.au www.keybridge.com.au