PEET LIMITED — Capital/Financing Update 2006

Nov 19, 2006

Enriching lives since 1895 Asset Manager Land Syndicator Fund Manager www.peet.com.au

Perth Level 7, 200 St Georges Terrace, Perth WA 6000 PO Box 7224 Cloisters Square WA 6850 Telephone (08) 9420 1111 Facsimile (08) 9481 4712 Email perth@peet.com.au

20 November 2006

Australian Stock Exchange Limited Exchange Centre Level 4 20 Bridge Street SYDNEY NSW 2000

Dear Sir / Madam

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001 (CTH)

Peet Limited (Peet) seeks to rely on section 708A(5) of the Corporations Act 2001 (Cth) (the Act) in respect of its recently concluded institutional placement.

Accordingly, Peet gives notice under section 708A(5)(e) of the Act of the following details:

• (a) on 18 November 2006, Peet issued 20,000,000 fully paid ordinary shares (Shares);
• (b) Peet issued the Shares without disclosure to investors under Part 6D.2 of the Act:
• (c) as at the date of this notice, Peet has complied with:
  • the provisions of Chapter 2M of the Act as they apply to Peet; and $(i)$
  • $(ii)$ section 674 of the Act; and
• (d) as at the date of this notice, there is no information to be disclosed that is 'excluded information' within the meaning of and as required by sections 708A(7) and (8) of the Act.

Yours sincerely PEET LIMITED

Nito-D

DOM SCAFETTA COMPANY SECRETARY