ASX release:The Board of City Pacific Limited has resolved to...

ASX release:

The Board of City Pacific Limited has resolved to defer the interim dividend final instalment
payment date. This is upon consideration of City Pacific’s funding requirements and
objectives to reduce its corporate banking facility and protect shareholder value. The Board
had previously anticipated making the interim dividend final instalment payment on 28
November 2008.
The Board will pay the 2008 interim dividend final instalment as soon as City Pacific is in the
financial position to do so. In light of the current difficult operating environment the Board
cannot be certain of the actual timing. The Board will advise shareholders of the revised
timing when it is in a position to do so.
This decision will allow City Pacific to apply all available funds received through the usual
operations of the Company to reduce the corporate facility and to meet ongoing operational
expenses. The Board has taken this action as part of its measures to strengthen the
Company’s position in the current extremely difficult market environment.
The dividend will consist of 12 cents per share to those shareholders who elected to receive
the cash payment for the interim dividend.