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KORVEST LTD Capital/Financing Update 2011

Oct 6, 2011

65199_rns_2011-10-06_75baa331-16e6-4d60-8995-2d061000e60a.pdf

Capital/Financing Update

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ABN 20 007 698 106

ASX Release

PROFIT GUIDANCE UPGRADE

The Board of Korvest Ltd today announced earnings guidance to expand upon the guidance provided with the announcement of the June 2011 results.

The first quarter trading results have shown a significant improvement on the results achieved in the corresponding period last year. This has been due to involvement in several major contracts which will be substantially completed by the end of the first half. As a result it is now expected that the operating profit after tax for the period to 31 December 2011 will be between 65 – 75% above the profit for the prior year first half.

The availability of major contracts in the second half remains uncertain and accordingly the Company does not provide any specific guidance in relation to the full year result.

The Annual General Meeting will be held on 21 October 2011.

For further information please contact:

Mr Steven McGregor Finance Director Korvest Ltd 0408 339 585