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KORVEST LTD Capital/Financing Update 2013

May 23, 2013

65199_rns_2013-05-23_6c74eafe-477b-4779-9662-4168aac0ae8c.pdf

Capital/Financing Update

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ABN 20 007 698 106

ASX Release

REVISED PROFIT GUIDANCE FOR JUNE 2013

The Board of Korvest Ltd today announced a revision to the previous January 2013 earnings guidance after reviewing recent market conditions.

Since the Easter break, trading has been below expectations, with reduced day to day activity and some projects being put on hold or deferred indefinitely.

As a result of reduced demand, the Board is currently examining some restructuring of the operations.

Previous guidance indicated that the second half would be improved on the first half however the Board now believes that the second half after tax profit will be approximately 10 to 15% below that of the previous half.

For further information please contact:

Mr Alexander Kachellek Managing Director Korvest Ltd 0423 847 627