MPR AUSTRALIA LIMITED — Capital/Financing Update 2007

Jul 8, 2007

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A S X A N N O U N C E M E N T

GAIN ON SALE OF IBA HEALTH RIGHTS

Sydney – 9 July 2007 – Tag Pacific Limited (ASX: TAG, NZX: TPC) advises that it has realised a gain of approximately A$0.86 million from the sale of rights which arose from the recent IBA Health Limited rights issue.

The IBA Health rights issue followed an announcement by IBA Health in May 2007 that it had agreed the terms of a recommended offer to acquire the entire issued capital of iSOFT Group plc, one of Europe’s largest companies dedicated to healthcare software.

iSOFT shareholders voted in favour of the transaction on 6 July 2007.

Tag has maintained its holding of 12.3 million shares in IBA Health which now have a market value of approximately A$15.3 million (based on the IBA Health closing share price of A$1.24 on 6 July 2007).

The proceeds from the sale of the IBA Health rights will be used to further Tag’s investment activities.

ENDS

For further information please contact:

Peter Wise Nathan Wise Chairman Company Secretary Tag Pacific Limited Tag Pacific Limited Tel: +61 2 8275 6000 Tel: +61 2 8275 6000

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