RESIMAC GROUP LTD — M&A Activity 2006

Dec 5, 2006

Level 2, The Atrium Building 168 St Georges TerracePERTH WA 6000 توری ، ۱۰۰۰ د ۲۰۱۰ د ۱2010 1926 08 Dephone Facsimile: 08 9261 7079

Wednesday, 6th December 2006

HOMELOANS LTD PURCHASES INDEPENDENT MORTGAGE CORPORATION ("IMC")

Homeloans Limited ("Homeloans") today announced the acquisition of the business of Independent Mortgage Corporation ("IMC") for approximately $16 million.

The purchase will be debt financed and comprises:

• an upfront payment of $13 million; and
• a deferred component payable in July next year.

IMC is a successful Melbourne based mortgage originator of managed and brokered loans with long term established customer and funder relationships.

Brian Jones, Managing Director of Homeloans Ltd said that the acquisition is part of Homeloans' longer term strategic intent to increase its presence in the non-bank lender market.

Mr Jones went on to add that the acquisition will:

• increase Homeloans loan book by almost 25%
• increase Homeloans' penetration in the Victorian market, especially in the retail $\blacksquare$ space; and
• provide a new and different delivery channel for its products and services. $\blacksquare$

IMC employs approximately 27 full time and consultant staff and Homeloans has retained the services of IMC's two principals until 30 June next year to assist in the assimilation of IMC with Homeloans

The acquisition will be earnings accretive for Homeloans.

All enquiries should be directed to:

Jarrod Smith Finance Director (02) 8267 2007 0409 813 958