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To: Australian Stock Exchange Limited
From: Broad Investments Limited (“BRO”)
Date: 2 March 2007

The Board is pleased to advise that as foreshadowed in previous releases, it is actively
pursuing opportunities and has held discussions with several parties with a range of
value adding proposals and in recent days has reached an advanced stage of
discussions and negotiations with at least one group and hopes to complete a
transaction within the next fortnight, which in its opinion has the potential to add
substantial value for shareholders.