TELSTRA GROUP LIMITED — Capital/Financing Update 2010

May 3, 2010

Sydney Hong Kong Shanghai Singapore

CXN c o mpletes KAZ Singapore acquisition

Connxion Ventures Limited (ASX: CXN) today, 4 May 2010, announced that it has completed the acquisition of the KAZ Singapore business from Telstra International. Th e transaction delivers the following benefits to CXN:

• The ability to jointly cooperate with Telstra International on new bu s iness opportunities in Asi a and the Sub Continent

• A fully functional o p erations hub in Singapore

• A modern data cent

• re

• A state-of-the-art c a ll centre

• Several 3 - 5 year contracts with international blue chip customers

• Annual revenue of c irca AUD $4.5m.

The consideration was paid f or in cash.

KAZ Singapore will make an immediate contribution to CXN’s earnings and t h e company is already pursuing organic gr o wth opportunities marketing the business’ services to existing CXN customers.

CXN’s Chief Executive Officer Bill Brooks commented, “We are pleased to ha v e completed this transaction ahead of sc h edule. The business will now be rapidly integra t ed into CXN, and already we are aggressi v ely pursuing a number of promising organic growth opportunities.”

Connxion Ventures Strateg y “Unleashing Customer Intelligence.”

CXN invests in and offers a co m plete data and transaction solution to clients that ra n ges from online document creation and delivery to payments, loyalty and rewards programs. CXN is positioned for continuous growth as companies are increasingly adopting these data and transacti o n related services to generate greater ef f iciencies and grow their business in this new and ch a llenging environment.

Media Relations Contact:

Ben Jarvis m: 0 413 150 448 e: b en@sixdegreesmedia.com.au

==> picture [216 x 84] intentionally omitted <==

==> picture [216 x 84] intentionally omitted <==

==> picture [165 x 84] intentionally omitted <==