SRG GLOBAL LIMITED — M&A Activity 2007

Dec 17, 2007

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ASX / MEDIA ANNOUNCEMENT 18 December 2007

GCS Announces Acquisition of Concrete Contracting Businesses

Construction services group Global Construction Services (ASX: GCS, “GCS Group”) is pleased to announce the acquisition of two Western Australian concrete contracting businesses, Newave Contracting Pty Ltd (Newave) and Blueline Contracting Pty Ltd (Blueline) with effect from 1 January 2008.

The final purchase consideration for the two companies is expected to be approximately $7.9 million of which approximately $4.5 million is represented by net tangible assets. The final amount is to be determined following completion of accounts by Newave and Blueline as at 31 December 2007.

Consideration for the acquisition will be satisfied by the issue of 333,333 shares in GCS at an issue price of $1.50 and a cash payment of approximately $7.4 million, $2 million of which will be deferred until Newave and Blueline achieve an agreed EBITDA milestone.

The cash component of the acquisitions will be funded from cash reserves and debt.

The acquisitions are expected to be earnings accretive in their first full year under GCS Group ownership.

Newave and Blueline are involved in the supply and installation of concrete, together with related labour services to customers predominantly in Perth’s commercial construction industry.

One of the company’s customers is CASC, a subsidiary of GCS Group.

GCS Group Managing Director Enzo Gullotti said the acquisitions were part of the Company’s growth strategy to diversify into related industries and expand the product range through acquisitions.

“The acquisition of Newave and Blueline increases the Group’s product range and customer base enabling us to offer a more comprehensive service to customers and cross sell both new and existing products and services,” said Mr Gullotti.

“Newave and Blueline have been in the Western Australian construction industry for the past seven years and have a good reputation in the building services market.

“Given that GCS already operates in this sector, we believe the acquisition and integration risk is low.”

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The management team at both Newave and Blueline are to be retained within the GCS Group.

“We believe these businesses represent a good fit with GCS’s existing operations and will have a positive earnings per share impact,” said Mr Gullotti.

He added that GCS Group continued to assess a range of growth opportunities.

The acquisition is subject to finalisation and execution of formal documentation. It will be effective from 1 January 2008, with formal settlement expected to take place late January 2008.

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Further Information: 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 in new markets, diversify into related industries and industry sectors and acquire selected new businesses that create value for shareholders.