SRG GLOBAL LIMITED — Capital/Financing Update 2007

Aug 16, 2007

ASX / MEDIA ANNOUNCEMENT 17 AUGUST 2007

GCS GROUP LISTS ON ASX TODAY

Construction services group Global Construction Services (ASX: GCS, "GCS Group") today made its debut on the Australian Stock Exchange.

The Company has completed a $20 million Initial Public Offer (IPO) through the offer of 20 million shares each at an issue price of $1.00 each. Upon listing, the Company has 65,328,058 shares on issue and a market capitalisation at the listing price of $65.3 million.

GCS Group is a diversified construction services company that provides scaffolding, formwork, material hoists and temporary accommodation to customers in the residential, commercial and industrial construction industry.

The Company has grown rapidly and profitably in Western Australia over the past 4 years and on listing will implement a strategy to pursue organic and acquisitive growth opportunities throughout Australia.

For FY08, GCS Group has forecast a net profit of $8.2 million on revenue of $52.2 million.

This equates to earnings per share of 12.5 cents and a price earnings multiple at the $1.00 issue price of 8 times.

In May 2007, GCS Group acquired CASC Constructions Pty Ltd, a Western Australian company providing formwork and related labour services as a sub-contractor to large construction companies undertaking major construction projects.

GCS Group will use the proceeds of the Offer to fund the final payment for the acquisition of CASC Constructions and for working capital as the Company embarks on its growth strategy of expanding the existing businesses and targeting acquisitions.

Managing Director Enzo Gullotti said GCS Group was very pleased with the strong investor support for the IPO, especially from the range of institutional investors who have become shareholders.

The IPO closed substantially oversubscribed on 3 August 2007.

Mr Gullotti said GCS Group was a proven operator in its sector and the ASX listing was the next logical step for the Company as it pursues its growth strategy.

"The ASX listing will provide us with ongoing access to the capital markets to fund future growth opportunities and provide increased financial flexibility as we embark on a strategy of organic and acquisitive growth," said Mr Gullotti.

"Over the next 12 months, we plan to expand our product and service range and broaden our customer base significantly."

"We are delighted to offer our shares to retail and institutional investors and commit to delivering long term shareholder value," he said.

Bell Potter Securities acted as lead manager and underwriter to the Offer.

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Katherine Knox
Porter Novelli
(08) 9386 1233
0421 186 129

Or visit: http://www.gcs-group.net

About GCS Group

GCS Group (ASX: GCS) is a construction services company that supplies equipment to the construction industry such as scaffolding, formwork, material hoists, temporary accommodation and chemical toilets together with a range of related labour and design services.

GCS Group is forecasting a net profit of $8.2 million for FY08, equating to 12.5 cents per share.

GCS Group's strategy for growth is to focus primarily on servicing the West Australian construction industry. In addition, the Company intends to explore opportunities on the East Coast as well as diversify into related industries and industry sectors and acquire selected new businesses that create value for shareholders.