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GENERAL: SGL: Speirs Group Announcement

20 Aug 2010 4:54 pm

SGL 20/08/2010 GENERAL

REL: 1654 HRS Speirs Group Limited

GENERAL: SGL: Speirs Group Announcement

20 August 2010

Speirs Group Limited, via its wholly owned subsidiary Speirs Investments Limited, holds 2 million perpetual bonds issued by Allied Nationwide Finance Limited (ANFL), and has an option to 'put' those bonds to Allied Farmers Limited on or about 30 September 2013 at a price of $1 per bond, plus any accrued or unpaid interest.

Given today's receivership announcement by ANFL, the directors of Speirs Group Limited advise that, as part of the audit programme currently being completed for the year ended 30 June 2010, they will be considering any group impairment provisioning of the investment in ANFL bonds that may be necessary.

ENDS End CA:00198647 For:SGL Type:GENERAL Time:2010-08-20:16:54:14

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