BRISBANE
Level 12, 300 Queen Street
Brisbane QLD 4000
GPO Box 2456
Brisbane QLD 4001
T 07 3229 7129 F 07 3229 5796
ACN 079 453 955 National Phone: 13 47 69 Email: [email protected]
City Pacific Limited
DEVELOPING FINANCIAL OPPORTUNITIES
FINANCIAL SERVICES
FUNDS MANAGEMENT
PROPERTY
SYDNEY
Level 12, 32 Martin Place
Sydney NSW 2000
GPO Box 969
Sydney NSW 2001
T 02 9238 0822 F 02 9238 0833
MELBOURNE
Level 7, 50 Market Street
Melbourne VIC 3000
PO Box 275, Collins Street West
Melbourne VIC 8007
T 03 9629 1777 F 03 9629 1677
GOLD COAST
City Pacific House, 2 Miami Key
Broadbeach Waters QLD 4218
PO Box 783
Pacific Fair QLD 4218
T 07 5554 0200 F 07 5575 6366
www.citypac.com.au
ASX / MEDIA RELEASE FEBRUARY 27, 2008
CITY PACIFIC ENDS MFS DUE DILIGENCE
City Pacific Limited (CIY) has ended due diligence of certain assets owned or
controlled by MFS Limited’s financial services business, including the MFS Premium
Income Fund.
City Pacific CEO Phil Sullivan said the Board of City Pacific has resolved that it will
not make an offer for any assets owned by MFS Limited’s financial services
business.
“After considering the merits of any proposed transaction, the Board has determined
that it would not be in the best interests of City Pacific shareholders or investors to
proceed,” he said.
City Pacific stands behind the strength of the City Pacific First Mortgage Fund model
and its success which is driven by the company’s ability to lend to the right
developments secured by a first registered mortgage over real property in Australia.
All discussions between the parties have ceased.
City Pacific confirms that it has no current financial exposure either as an investor or
lender to any member of the MFS Limited Group.
CITY PACIFIC LIMITED
Phil Sullivan
Managing Director & CEO
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