mfs announcement just out...re..ciy

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City Pacific Limited
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www.citypac.com.au
ASX / Media Release February 14, 2008
CITY PACIFIC MAINTAINS INTEREST IN MFS FINANCIAL SERVICES
City Pacific Ltd (CIY) confirms it is about to commence due diligence with a view to
potentially acquiring certain assets owned by MFS Limited’s Financial Services business
including control of the MFS Premium Income Fund.
City Pacific confirms that it has no current financial exposure either as an investor or lender
to any member of the MFS Limited Group.
CEO Phil Sullivan said the company has maintained an ongoing interest in acquiring certain
assets of the MFS Financial Services business since an initial offer was made at the
invitation of MFS in January.
“Our expression of interest is subject to detailed due diligence, exclusivity and break fees,”
he said.
“We continue to believe there are substantial synergies and revenue enhancement
opportunities by acquiring some of the assets of the MFS Financial Services business”.
City Pacific will only acquire certain MFS Financial Services assets in circumstances where,
after completing detailed due diligence, the Board of City Pacific determines that the
acquisition builds shareholder wealth for City Pacific and improves the prospects of fund
liquidity and return to MFS investors.
“City Pacific has significant expertise in funds management and property development and
has the appropriate skills and experience to manage, further develop and grow assets
acquired.”
Mr Sullivan said any potential purchase would involve nominal up front cash consideration
with the remainder of the purchase consideration being deferred and contingent on the
retention of investor funds.
“It would be inappropriate to make further comment in relation to this transaction until due
diligence is completed. We will continue to keep the market informed on any further
developments regarding this process.”
CITY PACIFIC LIMITED
Phil Sullivan
Managing Director & CEO
About City Pacific Limited
City Pacific Limited commenced operations in 1997 and listed on the ASX in July 2001 (ASX: CIY),
gaining entry into the ASX 200 in June 2005. City Pacific is a diversified financial services group with
core business units in financial services, managed funds and property.
City Pacific is one of the largest non-bank lenders in Australia and has over $1 billion of funds under
management. In addition to this it has a residential loan book of $3.3 billion and commercial mortgage
assets under management of approximately $800 million. City Pacific offers products that range from
equipment finance and leasing to home loans, personal finance, loan securitization and property
finance.
City Pacific has a range of significant property joint ventures with established industry property groups
that include Mirvac Group, Raptis Group and the Indigo Group.
City Pacific is also a major shareholder in two publicly listed property companies, CP1 (ASX: CPK)
and Indigo Pacific Capital (ASX: IPA), and is the recipient of dividend streams from each of the
companies. Website: www.citypac.com.au
Investor enquiries contact: Media enquiries contact:
Lee Danahay Greg Price
Group Executive – Investor Relations Group Executive – Corporate Affairs
City Pacific Limited City Pacific Limited
(07) 5554 0200 (07) 555 40216
0401 996 500 0400 200 827