Placement of 64,250,000 New Ordinary Shares

08 April 2011

The Board of Directors of AusGroup Limited (“Company”) wishes to refer to the announcements of the Company on 24 March 2011 and 5 April 2011 in respect of the Proposed Placement. Unless otherwise defined herein, terms defined in those announcements shall have the same definitions herein.

Further to those announcements, the Company wishes to inform shareholders that the Subscription Agreements between the Company and the Placees have been completed today.

Pursuant to such completion, the Company has allotted and issued 64,250,000 Placement Shares and the existing issued share capital of the Company has increased from 404,856,979 Shares to 469,106,979 Shares.

The listing and quotation of the Placement Shares on the Official List of the SGX-ST is expected to take place on 11 April 2011.

BY ORDER OF THE BOARD
John Sheridan
CEO and Managing Director
8 April 2011