26 November 2008 CHAIRMAN’S ADDRESS On behalf of my fellow directors, Mr Adrian Giles, Mr Adrian Vanzyl and Mr David Burden, I would like to welcome you to the 2008 Annual General Meeting of Ansearch Limited. If I had to characterise in a word the year just gone as it relates to Ansearch, I would have to say “transformation”. This transformation commenced back in mid to late 2007 with changes to the directors of the Company, whereby over several months a completely new, unified board of directors was appointed. I joined the Board in late October 2007 following a period of some instability, and was subsequently appointed as Chairman in December 2007. Mr Adrian Giles joined in December 2007, Mr David Burden joined as CEO in February 2008, and Dr Adrian Vanzyl in April 2008. All of the current directors bring considerable industry knowledge and experience. They each have extensive industry and business connections, and all have performed leadership roles in taking small entrepreneurial companies and growing them into substantial and robust operations that were leaders in their field. In addition, Dr Adrian Vanzyl brings specialist experience growing technology businesses in the United States and throughout Asia, Mr Adrian Giles brings a considered decision making style and a fitting risk management approach, Mr Burden brings managerial leadership and execution capability, and I bring board leadership and the entrepreneurial spirit. Working in harmony, this new board actively supports Mr Burden in his capacity as Managing Director and Chief Executive Officer of the Ansearch group of companies. Mr Burden is also supported by a passionate and committed new executive management team, with Mr Damian Element appointed as Chief Financial Officer in November 2007, and they along with Mr Andrew Beecher at Webfirm, Mr Josh Edis at Searchworld, and Mr Steve Jones at Ansearch Media have demonstrated exceptional leadership during this period of change. The management team in turn is supported by an eager and industrious staff, who together work tirelessly to meet the needs of our stakeholders. I cannot speak highly enough of this dedicated team of professionals. The team has been very focused during the year on the transformation of the Company from a small entrepreneurial start up into a scalable business with new systems and infrastructure that are required to support the growing revenue stream, the increasing customer base and an expanded product and service range. Upon his appointment, Mr Burden revamped and simplified the structure of the organisation, creating three core divisions (Webfirm, Searchworld, and Ansearch Media). This organisational transformation had a range of positive flow-on effects including changes to the management structure of the group to ensure teams stay focused on set objectives, and a total overhaul of the remuneration structure for the team to ensure they are rewarded on performance and are aligned to the goals of our Shareholders. The business was again transformed by the acquisition of Webfirm in June 2007, bringing to the Company an entirely new customer base of small and medium sized organisations keen to do better business online. This represented a big change for our organisation, and balanced our previously technology driven business with a new product and service business. It is fair to say that during the first 6 to 8 months, Ansearch did not provide the direction and support to Webfirm that was needed, however this was quickly addressed following Mr Burden’s appointment and the Webfirm team have been going from strength to strength ever since. Management has transformed the operations of Searchworld in the United States, with the appointment of a new team which has shown great success in a short space of time with a number of early sales wins.

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We have totally overhauled our core search engine www.ansearch.com.au with a new look and feel, and the incorporation of the blinkx video search, making this engine an excellent Australian alternative and one of which the team is very proud. We have extended our reach into the mobile advertising market, signing key partnership agreements. Another area of transformation for the business has been in its approach to the market, which is now more solid and direct. Our announcements carry more substance and are more directly linked to revenue generation, and we have received feedback from the market that this approach is well regarded. Our transformation has included the taking of some hard decisions. We have had to cut a number of non-performing projects and become more focused. In the tightening market we have had to reduce the number of staff we employ and become leaner, and we have had to review our accounts and carefully assess the effect of market conditions on our business. So, are there any benefits to all this transformation? I believe so. The list of accomplishments of the team during the year just passed is lengthy and impressive. We have a board that works cohesively, a strong management team passionate about being part of a successful business, and a more highly performing and efficient team. Webfirm has expanded to Melbourne and now Sydney. It has streamlined its Perth business and has more proficiently completed hundreds of website development projects during the year. Searchworld has expanded to encompass new business from the United States, built a new global search advertising platform, and increased customer usage on its search engines. Ansearch Media has signed up a range of well-respected new websites and increased the number of national and international sites and page impressions that it represents. Our annual revenues continue to grow, we have a significantly improved cost structure, and profitability is not far away. Our team are determined to see our financial position continue to improve. The efforts of the team were publicly recognised several times throughout the year, with Ansearch being awarded 2nd place in the Deloitte Technology Fast 50, followed up by 8th place in Deloitte’s Asia Pacific Fast 100. Just a few weeks ago the Company was awarded 7th place in the BRW Fast 100, and on 14 November the Company came 5th in the 2008 Deloitte Technology Fast 50, one of only 8 listed companies on the list, and the only company to make the top 5 two years in a row. What these awards indicate is that the team’s hard work is translating into results. In summary, this transformation of the Company means we are better placed than ever to take advantage of the shift of traditional media advertising to online banner and search advertising, and the trend of small and medium sized businesses to grow their online presence. The transformation of the company has a few remaining steps. The first and most important of these is to bring Ansearch to a position of profitability as quickly as possible. This remains number 1 goal of the board and CEO. As a result of the investment we have made this calendar year, in terms of management, infrastructure, products and service, we anticipate that profitability is on the horizon, and if the US initiatives continue to perform in accordance with expectations and general market conditions do not substantially worsen, we expect to achieve positive operating cash flow within this current year. Given that we are well advanced in our transformational activities, the next key activity for the directors and senior management is to better promote the Company in the marketplace, not only to our customers and potential customers in the industry segments and geographic locations in which we operate, but also in the capital markets and to the shareholders who have shown the company support. As you are aware, we have included in today’s formal business a resolution to change of name to Webfirm Group Limited. The board and management of the Group recognised that the Company has expanded beyond its original vision of capitalising on the growth of search and online advertising, and now has a

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broader range of both customers and products and services. We hope that the market will come to know us as the team of expert professionals to call for assistance in improving their Web presence. The new directors have assumed responsibility for a company with a long and interesting history, and some remnants of this history remain with us. In time we will take steps to streamline our corporate structure, and remove a number of dormant legacy companies from the group. Successful transformation does not occur undirected. It comes about through motivated entrepreneurial people recognising opportunity, actively pursuing it, and making the necessary changes which allow the realisation of the value of the opportunity. The evolution of the Company is an ongoing process, and a journey for the stakeholders, and if we continue to meet with success then arguably the transformation will be enduring. We acknowledge that market conditions are tough at present, and it is a testimony to the management and team that they are able to continue to expand and grow the business in spite of the challenges that the markets are presenting. As your fellow shareholder, my optimism remains high that the efforts of the team to transform Ansearch (soon to be Webfirm Group) from a small business into a large business will translate into rewards for the stakeholders, and that this process is well advanced. In closing, I’d like to thank you, our shareholders, for not only your continued interest and support, but also for your patience and ongoing commitment to the Company during this period of transformation. I strongly believe your patience will be well rewarded in the years to come. CEO’S REPORT I am pleased with the state and speed being achieved with the transformation of this business. Considering the economic turmoil of the past 12 months and the considerable changes that the executive team and I have made at the operational level in the past 9 months, it is extremely rewarding to be able to make these improvements and still generate growth. I would like to thank the Board and the team for their support over my first few months. We are all very determined to make this company one that we are not only proud of, but one that rewards the patience of our shareholders. The business today is operationally very different from the start of the year and it will continue to evolve over the coming months as we continue our improvement program. We have achieved a vast amount in the past 9 months but we remain firmly focussed on returning the business to profitability and into a cashflow positive state. Looking at the three operational divisions: The many changes made to the operations of Webfirm across sales, telemarketing, customer service and production combined with product enhancements are driving increased revenue from a lower cost base. In fact, October 2008 was the strongest new revenue in Webfirm’s 8-year history. Our Western Australian sales are increasing with increased activity from both new and existing customers, our new Melbourne shopfront is ahead of its revenue target and we have now established a Webfirm operation from our existing premises in Sydney. With the economic downturn both our existing and new clients are focused on the efficiencies they can drive from online marketing. As a result we are seeing a strong increase in new websites, existing website updates, search engine optimisation and search engine marketing demand. While advertising budgets, particularly those of SME’s, are under pressure, we are consistently finding that our customers are asking us how to get more value from increased online spend. As long as the underlying trend of the shift from offline to online continues then Webfirm is well positioned to capitalise on this growth. In the next quarter we plan to continue improving the operational efficiencies that we have introduced at Webfirm. These include our new CRM platform, reporting system, website development technology and we will continue to refine our lead generation and sales methodology. Both the new Sydney and Melbourne operations will remain a key focus and we will roll out our new Agent strategy and appoint new sales agents in territories we are currently not serving.

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Searchworld continues to grow its revenue base and we are seeing early positive results from our new US operation commenced in October. Although based in Boston, the team have a global focus and are winning new clients in the USA, South America, Europe and the UK. These sales are coming from partners looking to acquire our search advertising feeds to monetise their publisher networks or parked domain portfolios. In the next quarter we will continue to bed down the new US operation and provide it with more resources as its revenue increases. In addition we will continue to roll out the Searchworld Network and also make improvements to our recently refurbished search engines Ansearch, Anzwers and our newest engine www.soush.com Our Media business is feeling the economic slowdown more than the other divisions and we have reduced the headcount in this team in line with the revenue. Media is continuing to sign new publisher clients, the most recent win was the Biggest Loser Club, a lifestyle club based around the Biggest Loser TV show due to go to air next year in February. Preliminary interest for the advertising packages on this site has been strong. Over the next quarter we will be evaluating improvements that can be made to the future business model for media. The group reported a net loss of $6.7 million for the year ended 30 June 2008. This loss included a number of non-cash adjustments, share based expenses and impairments of assets, leaving a normalised operating loss of $2.8 million. The Board has taken a very pragmatic view of the balance sheet in relation to the carrying value of our assets to ensure that moving forward we are very well positioned. Revenue for the financial year was up a solid 46% on the previous year to $12.3 million. In the last quarter we reduced headcount by 25% and terminated a number of projects that were not geared for immediate results. Trading in the current financial year saw first quarter results softer than expected and represented a 17% decline in revenue over the previous quarter. However, as previously suggested the second quarter is expected to be strong and this was confirmed in October with monthly revenue increasing 55% over the average monthly first quarter revenues, November revenue should hold most of these gains. . Historically December and January are slower months for Webfirm and the Media business, however we expect our Searchworld business to continue to grow over this period. The capital raising program recently undertaken raised $1.42 million towards the expansion and growth initiatives the company has in place. Whilst the first two tranches of the program were fully subscribed, the third tranche (a share purchase plan offered to all shareholders) fell short of our expectations due to the further market deterioration that occurred immediately following the offer. The cash reserves of the company are being carefully managed. Based on current business trading and economic conditions and our forward forecasts we believe that the business has sufficient cash to see us reach profitability. However, as precautionary measure we are taking steps to secure alternative financing should economic conditions continue to deteriorate. With the approval of shareholders, the Company will change its name to Webfirm Group Limited and I anticipate that this will occur in February 2009. We are excited about projecting a new image and brand to the marketplace, especially one that more closely represents the current team’s values. The director’s have also taken the decision to undertake a share consolidation program to commence immediately following this meeting. The company has an extremely large number of shares on issue, and the consolidation will give the Company a capital structure more appropriate to its size and business. It is also expected that the consolidation will remove some of the volatility in share price movements. There remains a lot to do, but we are seeing excellent results from the initiatives that we have already commenced. Our revenue growth last year was pleasing, and this year our revenues have bounced back strongly after a slow first quarter of this year. Our team is in place and motivated, and with the strength of our growing Searchworld and Webfirm customer base we expect to see profitability in the not too distant future. I would like to thank all of our shareholders for their continued support.

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Ansearch Limited

Annual General Meeting 2008Annual General Meeting 2008

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DisclaimerDisclaimerDisclaimerDisclaimer

This presentation is not and does not constitute an offer, invitation or recommendation to subscribe for, or p , ,purchase any security and neither this presentation nor anything contained in it shall form the basis of any contract or commitment. 

Reliance should not be placed on the information or opinions contained in this presentation. This presentation does not take into consideration the investment objectives, financial situation or particular needs of any particular investor. Any decision to purchase or subscribe for shares in Ansearch Limited should only be made after seeking appropriate financial advice.

No representation or warranty express or implied is made as to the fairness accuracy completeness orNo representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, Ansearch Limited Limited and its affiliates and related bodies corporate, and their respective officers, directors, employees and agents disclaim any liability (including, without limitation any liability arising from fault or negligence) for any loss arising from any use of this presentation or its contents or otherwise arising g g ) y g y p gin connection with it. 

The forecasts and other forward‐looking statements set out in this presentation are based on a number of estimates, assumptions and pro forma adjustments that are subject to business, economic and competitive uncertainties and contingencies, with respect to future business decisions, which are subject to change and in many cases outside the control of Ansearch Limited. The forecasts contained in this presentation may vary from actual financial results, and these variations may be material and, accordingly, neither the Company nor its Directors can give any assurance that the forecast performance in the forecasts or any forward‐looking statement contained in this presentation will be achievedcontained in this presentation will be achieved. 

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Chairman’s Address

Mr. Andrew BarlowMr. Andrew Barlow

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TransformationTransformationTransformationTransformation

Positive change made throughout the company across all levels.

Business restructure

Executive restructure

Board restructure Significant corporate

restructure and recapitalisationrecapitalisation.

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HighlightsHighlightsHighlightsHighlights

• High performance team.

• Webfirm expansion to Sydney and Melbourne significant operational efficiencies.

• Searchworld USA expansion and new global search platform.

• Media success in newMedia success in new publisher acquisition.For

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Recent AwardsRecent AwardsRecent AwardsRecent Awards

5th Place 2008 7th Place 2008

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Continued FocusContinued FocusContinued FocusContinued Focus

R d fit bilit• Revenue and profitability

• Positive cashflow

• Name change to Webfirm Group

• Streamlined corporate structure

• Business growthBusiness growth

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CEO’s Report

Mr. David BurdenMr. David Burden

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Operational UpdateOperational UpdateOperational UpdateOperational Update

• Extracting greater efficiencies across sales, production and customer service units.

CRM, hosting environment, statistics enhancement, new development environment

• Expanding product range• Expanding product rangeWeb express, email, SEM, media buying

W A li l i i• Western Australia sales increasing

• Melbourne shop ahead of targets

• New Sydney operation commenced

• Sales agents to be appointed in more locationsSales agents to be appointed in more locationsFor

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Operational UpdateOperational UpdateOperational UpdateOperational Update

• Strong growth from new US operationO 50 t i dOver 50 new partners signed

Global focus – South America, USA, Europe and UK

C t ti h dCustomer connections have commenced

• Q2‐Focus on growing US operational revenue

Expand Searchworld network

Further improve search engines www.anzwers.com.au, www.ansearch.com and www.soush.comF

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Operational UpdateOperational UpdateOperational UpdateOperational Update

• Feeling effects from slow down and switch to performance based advertising

• Revenue growth flat

• Recent wins includeRecent wins include the Biggest Loser Club

• Evaluating new• Evaluating new business modelFor

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FY 08 ResultsFY 08 ResultsFY 08 ResultsFY 08 Results

Revenue grew 46%. Operational loss of $2.8M which after a number of non-cash adjustments, share based expenses and impairments of assets resulted in

Revenue grows 46% 

a net loss of $6.7M.

Headcount reduced by 

gto $12.3M

Business 

25%

restructured Balance sheet well positioned for expected growthgrowth.

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FY 09 UpdateFY 09 UpdateFY 09 UpdateFY 09 Update

Forecasting to return to profitable g pmonthly trading this financial year.

December & January 

di i llQ2 Revenue much stronger. October revenue up 55%

traditionally slower, but expecting 

Q1 Revenue 

revenue up 55%.  Searchworld growth

softer than expected. Down 17% on previous 

Long term future strategy unveiled in Q3 / Q4.

pquarter

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Cash PositionCash PositionCash PositionCash Position

• Capital raising program raised $1.42M

• Based on the current trading and market conditions and our forward forecasts we believe that the business has sufficient cash to see it become profitable.

• As a precautionary measure we are taking steps to secure alternative financing should economic conditions continue to deteriorate.

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Activity TimetableActivity TimetableActivity TimetableActivity Timetable

• Re branding the business to Webfirm Group to occur• Re‐branding the business to Webfirm Group to occur in Q3 (if approved by Shareholders)

• 5:1 share consolidation to occur immediately following AGM (subject to Shareholder approval) 

• Q2 Results – end January

• Long term strategic plans announcing Q4For

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Questions

Annual General Meeting 2008Annual General Meeting 2008

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