MPR AUSTRALIA LIMITED — Capital/Financing Update 2009

Sep 23, 2009

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

MPOWER WINS A$32 MILLION GORGON CONTRACT

Sydney – 24 September 2009 – Tag Pacific Limited (ASX: TAG, NZX: TPC)

The Tag Pacific Group announced today that its MPower subsidiary has been awarded a A$32 million power contract for the Gorgon Project in Western Australia.

The contract, which is expected to run for 24 months, is for the design, manufacture and commission of a 28 megawatt power generation plant that will be used to power the construction and commissioning phase of the Gorgon Project. The Gorgon Project is Australia’s largest resources project, estimated to cost approximately A$43 billion for the first phase of development. The final investment decision on the project was announced by the Gorgon Joint Venture participants last week.

“The award of this Gorgon contract to MPower is a major achievement and another milestone in the growth and development of the MPower Group” said Tag Chairman, Peter Wise. “The contract is a critical component in the construction of this ground breaking project and required MPower to demonstrate its ability to design and engineer a unique power solution of this scale and complexity. In formulating the bid, MPower utilised its vast technical experience and expertise to meet the environmental challenges associated with the Gorgon Project”.

The Gorgon Joint Venture participants have the ability to increase the scope of the contract in coming months, in which case the contract value could potentially increase to approximately A$40 million.

MPower’s projects division was formed following the acquisition of Advanced Power for approximately A$3.5 million in late 2005. “Tag identified Advanced Power as a business with enormous potential. In the four years since the acquisition, the business has grown incrementally and steadily to become a leading and reputable provider of engineered power solutions. The original purchase price has been overshadowed by the successes of this division, including this latest contract win which will be a major step in propelling the company forward” said Peter Wise.

The win comes soon after MPower was restructured in July 2009, creating a new brand and corporate structure that unites the Group’s diversified offering of stored, emergency, generated and green power solutions. MPower, which specialises in providing innovative and dependable power solutions for every purpose, has reclassified its activities into eight discrete divisions across multiple geographies.

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The A$32 million Gorgon power contract represents a significant milestone for the MPower Group which recorded annual revenue across all divisions of A$47 million in the last financial year. The scale of the contract, which is by far the largest ever awarded to a Tag Group company and a very significant increase to the project base, will further enhance the platform from which the MPower business can continue to grow and expand into new and exciting areas.

ENDS

For further information please contact:

Nathan Wise Head of Corporate Development Tag Pacific Limited Tel: +61 2 8275 6000

About Tag

Tag Pacific Limited is a Sydney based strategic investor listed on both the Australian Securities Exchange and the New Zealand Stock Exchange. Tag is a boutique investment house that invests in a range of growth sectors; creates and enhances value and aims to achieve above average returns.

Tag’s philosophy is to: > Invest in businesses and activities that have elements of value or potential.

Actively participate and guide strategic expansion.

Meld or transform the nature of the investments to enhance and create value.

Maximise gains in the medium to long term.

www.tagpac.com

About MPower

MPower is a leading provider of innovative and dependable power solutions in Australia and New Zealand. MPower provides a diverse range of stored, emergency, generated and green power solutions for every purpose. The group has evolved as a result of a series of acquisitions since its inception in its current form in 1995. Elements of the group date back over 75 years to McKenzie & Holland in New Zealand. MPower is majority owned by Tag Pacific Limited, an investment company listed on the Australian and New Zealand stock exchanges.

The company has a broad distribution network across Australia, New Zealand and Fiji. It offers a vast range of power solutions to an equally diverse range of customers, from mining companies, small businesses to electrical wholesalers. The solutions offered include batteries and chargers, power electronics, uninterruptible power supplies, portable generators, emergency lighting, solar power products, standby power systems and military specification generators.

www.mpower.com.au

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