Yet another aquisition this is shaping up to be huge .Wentworth...

Yet another aquisition this is shaping up to be huge .

Wentworth Mutual Limited Level 1 T 9489 5333
ABN 41 080 167 264 415 Roberts Road F 9489 5344
Subiaco WA 6008 E [email protected]
4th July 2006
The Company Announcements Office
Australian Stock Exchange Limited Level 4,
20 Bridge Street SYDNEY NSW2000
WENTWORTH HITS A BIG CENTURY
Wentworth Mutual Ltd (ASX:WWM), continues with its rapidly expanding property management
operations by announcing its latest and largest Real Estate and Property Management acquisition.
The Group has purchased the Number 1 Century 21 operation in Victoria - Century 21 Wilson Pride St
Kilda, who also have Offices located in the other inner Melbourne suburbs of Carnegie and Brighton.
Century 21 Wilson Pride St Kilda, Carnegie and Brighton have over 2,500 properties under management
and the inclusion of these properties will take the Wentworth Group portfolio of properties under
management to 8,000 plus throughout Australia. It will also strengthen Wentworth’s real estate sales
capability by locking in to Century 21 Wilson Pride St Kilda’s sales volume of over $100 million. The
acquisition also includes a shareholding in the rapidly expanding Mortgage Fair (mortgage finance) broking
business, which will provide a further cross marketing opportunity for the Group nationally.
Paul Hearnden, Managing Director of Century 21 Wilson Pride St Kilda commented that, “the decision to
incorporate our business into theWentworth Group is one we deliberated over very seriously. Our decision
was made once we understood the Group’s strategic objectives and expansion plans and we want to be part
of those. We see this as a ‘ground floor’ opportunity to have an impact in revolutionising the real estate
industry.” He also stated that, “Wentworth will be retaining all of our existing staff as we believe this is
most important for our client relationships and smooth integration.”
In commenting on the acquisition, Executive Director of Wentworth Mutual Ltd, Kingsley Lamont said,
“we are excited to have attracted one of the largest real estate businesses in Victoria into our corporate
family. The business portfolio and culture of Century 21 Wilson Pride St Kilda fits neatly into our ever
increasing team and will provide further depth and volume which we will use to drive economies of scale
and increase profitability.” Lamont went on to state that, “the location of the Century 21 Wilson Pride’s St
Kilda, Carnegie and Brighton offices place us squarely in the inner city regions which, in the past, has been
very closely held and difficult to enter. Entering this region through Century 21 Wilson Pride St Kilda gives
us immediate access to a lucrative and developing market.”
Century 21 Wilson Pride St Kilda joins the Wentworth Group on 4th July 2006 and joins the growing list of
acquisitions that Wentworth have conducted since November 2005. The purchase consideration is being
settled as a combination of cash and shares in Wentworth, the details of which are confidential and have not
been released.
Further information may be obtained by contacting WWM’s media liaison consultant, Mark Silveira on 03
98480777 [email protected]