Low performer??????*This stock reported earnings of 5c per share...

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Low performer??????

*This stock reported earnings of 5c per share in their last annual report.

* it has a PE of 5.21

*asset backing of 28c per share.

* share price has risen from 7c to 28c from 2002 to 2006.

*84 million shares on the register, 62% million held by top 20 shareholders.

If they can pull this deal off, it's a steal !
Now we know why Axiom held back on positve news in the half yearly report.
They are buying a cash positive business at nearly assest value, that is a huge deal !
Wait until the market does a few numbers.


PRINCIPAL ACTIVITY
Eumundi Group Limited (EBG, formerly Eumundi Brewing Group) is involved with
owning and leasing of hotel and gaming assets and retail investment properties

AIRLIE BEACH LAGOON HOTEL: EBG has formed a joint venture with FKP Limited to
develop a 6,273 sqm beachfront site at Airlie Beach. The $36 million integrated
development will include a 125-room hotel, retail outlets, community facilities
and supporting infrastructure. EBG will own and operate the hotel's licensed
premises as well as the lifesaving and outrigger club on the beachfront
development. Operations were forecast to commence in late FY06.

ASPLEY AND SUNNYBANK HILLS INVESTMENT: In March 2004 EBG acquired hotel and
shopping centres in Aspley and Sunnybank Hills in Brisbane for $31 million. The
facilities were leased to the Sydney based Murphy Hotel Group. In september 05,
EBG sold the Jackson Road Shopping Centre at Sunnybank for $15.3M.

IMPERIAL HOTEL EUMUNDI PTY LTD: EBG operates the Ashmore Tavern and the Imperial
Hotel located at Eumundi on the Sunshine Coast, north of Brisbane. EBG was
planning to dispose of the Imperial Hotel for $4.5 million in FY05.

BANKSIA BEACH SHOPPING CENTRE: On November 05, EBG purchased the Banksia Beach
Shopping Centre on Bribie Island, QLD. The centre includes 1698m2 IGA
Supermarket and 10 specialty stores including a pharmacy, medical centre,
bottleshop, newsagent, and bakery. The acquisition also includes an additional
6356m2 of land.

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2. De Luca Group Superannuation Fund – De Luca Group Super Fund 6,204,792 7.36%
3. Ganbros Pty Ltd 4,902,693 5.81%
4. Ganboys Pty Ltd 4,730,190 5.61%
5. Gansons Pty Ltd 3,868,490 4.59%
6. Jalsea Pty Ltd 3,308,914 3.92%
7. Deluca (Adm) Pty Ltd 1,777,519 2.11%
8. RBC Dexia Investor Services Australia Nominees Pty Ltd 1,430,000 1.70%
9. Archer Management Pty Ltd – Archer Super Fund 1,422,000 1.69%
10. Mr. J M Ganim 1,326,400 1.57%
11. Natpac Financial Services Pty Ltd - Robert Blann Superfund 1,158,932 1.37%
12. Chriswell Pty Ltd – Christine Weller Family Account 1,107,681 1.31%
13. Dreamtouch Pty Ltd – Brian Weller Family Account 1,107,681 1.31%
14. Nipruma Pty Ltd – Kim Weller Family Account 1,107,681 1.31%
15. Mrs. Tracy Fraser 1,047,080 1.24%
16. ANZ Nominees Limited - Cash Income Account 994,204 1.18%
17. Hatfree Pty Ltd - Freeman Super Fund 917,500 1.09%
18. Bawden Custodians Pty Ltd Terton Corp P/L S/F 860,000 1.02%
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52,912,232 62.74%