KORVEST LTD — Earnings Release 2010

Mar 24, 2010

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ABN 20 007 698 106

ASX Release

REVISED PROFIT GUIDANCE FOR JUNE 2010

The Board of Korvest Ltd today announced a revision to the previous earnings guidance given with the announcement of the December 2009 results.

At that time the Chairman, Mr Stancliffe noted that there were indications that the markets in which Korvest operates could improve in the second half of F2010, resulting in full year results being in line with last year’s.

Mr Stancliffe advised today that the expected market improvements have not yet materialised, as a number of projects that were expected in the second half of F2010 have been deferred into F2011. As a result of the lack of project work and the generally soft market conditions, it is now expected that the full year operating profit after tax for F2010 will be between 20-25% below the record profit of the prior year.

For further information please contact:

Mr Alexander Kachellek Managing Director Korvest Ltd 0423 847 627

25 March 2010