THORNEY OPPORTUNITIES LTD — Capital/Financing Update 2011

Jun 28, 2011

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30 June 2011

The Company Announcements Office Australian Stock Exchange Limited Level 4, 20 Bridge Street SYDNEY NSW 2000

Wentworth Holdings Limited – Dividend and Business Update

Highlights

• Wentworth to undertake a strategic review of its business

• Wentworth announces an intention to pay a dividend of 0.5 cents per share (unfranked) for the financial year ending 30 June 2011.

• Wentworth forecast a consistent result for the year ending 30 June 2011

Strategic Review

Wentworth has been highly active in the past 12 months exploring a number of opportunities to grow the property management business and expand into other sectors. Whilst this work is continuing, the board believe that it is prudent to undertake a strategic review of the business and its assets. This review is expected to take 3 months.

Dividend

Wentworth has continued to enjoy consistent earnings and the directors are delighted to announce the intention to pay a dividend of 0.5 cents per share (unfranked) for the financial year ending 30 June 2011, to be paid in approximately October 2011.

Forecast Financial Performance

Caption	Forecast FY11($M) (1)	FY10($M)
Normalised EBITDA	2.743	3.169
EBITDA	3.392 (2)	2.061 (3)
Profit/(loss)after tax	0.146 (4)	(1.626)

Notes:

• (1) Unaudited management accounts

(2) Includes $0.725M profit on sale of Vesture Limited shares.

(3) Includes $0.801M share based payments and $0.307M in legacy costs.

(4) Assuming change in rent roll useful life from 7 years to 8 years.

FY11 has been a period of stabilisation and building for future growth. To this end, investments have been made in;

• A National Business Development Manager and Business Development Managers to grow properties under management ; and

• A revised incentive programme designed to attract and retain talent in a very competitive labour market.

Whilst Wentworth has experienced reduced letting fee income (due to lower than normal vacancy rates) and a decrease in properties under management, strong expenditure control has managed the EBITDA result, allowing the forecast dividend payment to occur.

For all queries please contact:

Mr Ron Hollands Company Secretary 03 8591 0520

Wentworth Holdings Limited ABN 41 080 167 264

144 Church Street T 03 8591 0500 Brighton VIC 3186 F 03 9592 7607 E enquiries@wentworthmutual.com