SOUTHERN CROSS ELECTRICAL ENGINEERING LTD — Capital/Financing Update 2012

Jun 28, 2012

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SOUTHERN CROSS
ELECTRICAL
ENGINEERING LIMITED
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ASX RELEASE

30 June 2012

SXE Increases Banking Facility

Southern Cross Electrical Engineering Ltd (ASX:SXE) is pleased to announce that the Commonwealth Bank of Australia (“CBA”) has increased SXE’s financing facility for the provision of bank guarantees and working capital to $40 million and raised the permitted limit of other bonding to $20 million.

This increases SXE’s potential bonding capacity from $40 million to $60 million.

CBA has also released the $5 million restricted term deposit that SXE was required to maintain as a consequence of the breach of banking covenants in the prior year.

SXE Managing Director Simon High said “This increase in our banking and bonding facilities provides capacity to support our projected growth opportunities in the short and medium term.”

The financing facility is subject to normal commercial terms and conditions and matures on 31 July 2013.

For further information please contact:

Simon High Managing Director/Chief Executive Officer Southern Cross Electrical Engineering Ltd Telephone: +61 9236 8300 Email: simon.high@scee.com.au

Chris Douglass Chief Financial Officer Southern Cross Electrical Engineering Ltd Telephone: +61 9236 8300 Email: chris.douglass@scee.com.au