PACIFIC CURRENT GROUP LIMITED — Capital/Financing Update 2012

Jul 9, 2012

==> picture [280 x 56] intentionally omitted <==

10 July 2012

TREASURY GROUP LIMITED NEW BOUTIQUE FUND MANAGER ANNOUNCEMENT

==> picture [127 x 27] intentionally omitted <==

Treasury Group Limited adds an Asian Alternative Specialist

In line with Treasury Group’s (TRG) approach of looking to work with outstanding investment talent globally, TRG is pleased to announce it has entered into a partnership agreement with Octis Asset Management Pte Ltd (Octis).

TRG has acquired a 20% equity stake in Octis with an option to increase that by a further 10% if hurdles linked to new funds flow are satisfied. Funding of the acquisition was from working capital and the strike price of the option is correlated to the prevailing net asset backing at the time the options are exercised. The initial acquisition price for the 20% stake was approximately $224,000.

Founded in 2007, Octis is an Asian multi strategy equity manager based in Singapore. The investment team, headed by Jerome Ferracci who has 27 years of experience, has achieved an outstanding track record with +22% net returns since inception against - 21% for the MSCI Asia Pacific index (as at 31/05/2012).

“We have been interested in diversifying into alternatives and have been actively searching for opportunities. We are very pleased about partnering with a quality business that offers access to Asia with low volatility. We look forward to assisting in the growth of Octis both in Australia and overseas” said Andrew McGill, Treasury Group Chief Executive Officer.

“We have been very impressed by TRG’s performance in partnering boutique fund managers, and are very confident of the synergies created with our partnership.

On one hand TRG has a proven outstanding track record in terms of product development and distribution, whilst on the other hand we strongly believe in our capability of bringing significant value to investors by mastering equity risk at a low level of volatility through our alternative investment products” said Jerome Ferracci

Octis currently has $50 million in funds under management.

For further information:

Joseph Ferragina Chief Financial Officer +61 2 8243 0400

Treasury Group Limited ABN 39 006 708 792 Level 14, 39 Martin Place, Sydney NSW 2000 phone 028243 0400 facsimile 028243 0410

Octis Asset Management Pte Ltd

The Octis team consists of six people of whom three are traders with a cumulative 40 years of market experience working in large big institutions. Of the other three, one derivatives specialist is dedicated to business development and two administrative officers are responsible for operations, controls and administration.

The team has worldwide experience in equity derivatives and macro strategies. Jerome Ferracci is a former CEO of HSBC Financial Products and Global Head of Equity Derivatives for Europe and Asia in Paris, London and Hong Kong; Joel Guglietta has 16 years of experience and is an ex BTIM Portfolio Manager in long-short equity and macro in Sydney and HSBC in Hong Kong; Wu Yuan is the quantitative equity trading specialist and Stephane Coupleux has an MSC in Mathematics (Dauphine - ENSAE), is a former Portfolio Manager at BlueCrest and an ex Equity Derivatives Researcher for BNP New York.