MYSTATE LIMITED — Capital/Financing Update 2011

Dec 19, 2011

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ASX Media Release

20 December 2011

MyState Financial receives investment grade rating from S&P

Hobart, December 20: MyState Limited (ASX: MYS), the diversified financial services group which recently merged with The Rock Building Society, today announced that its whollyowned subsidiary MyState Financial has received an investment grade rating of „BBB‟ from Standard & Poor‟s, the international rating agency.

Mr John Gilbert, MyState Limited‟s Managing Director, said: “We are very pleased that MyState‟s financial strength and risk management practices have been recognised by Standard & Poor‟s with this investment grade rating for one of our banking businesses.

“We expect the rating will enable us to diversify MyState‟s sources of funding which will not only strengthen our competitive position but possibly reduce pressure on funding costs. In addition, the rating will create opportunities and flexibility surrounding capital management of the MyState Group enabling future growth and, in particular, realising the potential of the recent merger with The Rock.”

Mr Gilbert added: “Our rating is good news for our wholesale customers and those businesses wanting to bank with us. It‟s proof that our customers bank with a solid institution and this fact will be comforting to many in the current global economic conditions. Importantly, there have been organisations that would prefer to bank or invest with us but were previously unable to because we were not rated. Now that MyState‟s financial strength has been recognised we look forward to welcoming these organisations.”

ENDS

About MyState Limited

MyState Limited is a non-operating holding company and is a major Tasmanian based listed diversified financial group. It was formed in September 2009 to effect the merger of MyState Financial (MSF), an authorised deposit-taking institution, and Tasmanian Perpetual Trustees (TPT), a trustee and wealth management company. On 1 December 2011, MyState Limited gained court approval to affect a merger with The Rock Building Society (The Rock) and The Rock became a subsidiary operating under MyState Limited.

MyState Limited, MSF and The Rock are regulated by APRA and MyState Limited was enabled under Tasmanian legislation to own TPT, an authorised trustee company. TPT continues to be a registered superannuation entity (RSE). MyState Financial, The Rock and TPT hold Australian Financial Services Licences and Australian Credit Licences issued by ASIC.

Registered Office

23 Paterson Street Launceston 7250

For more information:

Analysts: Paul Viney, Company Secretary and Chief Financial Officer, MyState Limited – (03) 6348 1170 Media: Anthony Tregoning or Ashley Rambukwella, FCR – (02) 8264 1000 or (02) 8264 1004