PRL GLOBAL LTD — Board/Management Information 2003

Mar 26, 2003

Asset Backed Holdings Limited ABN 70 006 788 754

Level 2. Troika House 129 Melville Parade, Como Western Australia 6152

Postal: Locked Bag 4 COMO WA 6952

Phone: (618) 9474 1799 Fax: (618) 9474 2281

Email: email@abh.com.au

ASSET BACKED HOLDINGS LIMITED

27 March 2003

BY EMAIL

The Companies Announcement Office Australian Stock Exchange Ltd Level 10 Exchange Centre 20 Bond Street SYDNEY NSW 2000

Dear Sir

Please be advised that Mrs Karen Margaret Armstrong resigned as Company Secretary of Asset Backed Holdings Ltd on 26 March 2003.

Mr Kroyer continues as the sole Company Secretary for the Company.

Yours faithfully

NIELS J KROYER Company Secretary