OLDFIELDS HOLDINGS LIMITED — Capital/Financing Update 2008

Feb 28, 2008

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OLDFIELDS HOLDINGS LIMITED

ACN: 000 307 988

PO BOX 1613, CAMPBELLTOWN NSW 2560 Telephone: 02 4627 0777 Facsimile: 02 46 27 0888

29[th] February 2008

Oldfields Group expands property portfolio

The Company wishes to accounce that its Shed Holdings Pty Limited 100% subsidiary has purchased a property at 210 Beatty Road Archerfield, Queensland. The purchase price is $1.925M and it is due to settle on 19[th] May 2008.

The Group's businesses currently utilise these premises in its Scaffold division and obtains rent from one of it's associates.

We anticipate gains on this property given the strong demand in Queensland at present.

Gary J Guild Company Secretary