WINGARA AG LTD — Capital/Financing Update 2012

Nov 7, 2012

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8 November 2012

Company Update

Biron Apparel Limited (ASX:BIC) ( Company ) provides this update to the market in relation to the proposed transaction announced on 12 December 2011 (proposed transaction ).

Biron is pleased to announce it has engaged Strategic Capital Management ( SCM ) to act as its advisor to assist in completing the proposed transaction with Cypher Pty. Ltd ( Cypher ).

As part of the engagement, SCM will assist Biron with the following;

• a) Assist the Company in raising capital sufficient to meet the capital required to meet the minimum work commitments in hand.

• b) Assist in the preparation and review of the offering and information documents in connection with such raising.

• c) Assist the Company with the Notice of Meeting (NOM).

• d) Assist the Company in evaluating its strategic options and initiatives.

• e) Assist the Company in raising capital to acquire bolt-on businesses.

• f) Assist the Company in relisting on the ASX at a point in time acceptable to the Company.

SCM is an Australian head quartered investment service firm with global networks, focusing on alternative investment opportunities, product development and asset management since 2000.

Biron is pleased to partner with SCM to allow the Company to proceed with the proposed transaction and future opportunities for the Company and its shareholders.

Biron appreciates the patience and understanding of all our shareholders during this period and is working towards providing shareholders with value.

George Karafotias

Director

Registered Office 101 Rathdowne Street Carlton VIC. 3053