Notification of Joint Venture Company

30 June 2009

AusGroup today announced that its Australian subsidiary, Ausclad Group of Companies Limited, has formed a joint venture company with Industry Partners Pty Ltd, a specialist Labour Supply company.

The equal joint venture in the name of Resource People Pty Ltd has been established to provide improved flexibility in the way the Group manages project related employees on Western Australian projects.

The Joint Venture has been developed and implemented in response to recent changes to Australian employment laws.

The Joint Venture will have no impact on Group earnings this financial year.