604 page 1/2 15 July 2001

Form 604

Corporations Act 2lXl1

Section 6718

Notice of change of interests of substantial holder

ASG GROUP LIMITEDTo Company Name/Scheme

ACN/ARSN

1. DGtails of substantial holde(I)

Name pARADICE INVESTMENTACN/ARSN (if applicable)

MANAGEMENT PTY LTD

There was a change in the interests of thesubstantral holder on

The previous notice was given to the company on

The previous nolce was dated

2. Previous and present voting power

29 /06 t1616t06 t1514/06 t15

in when last required, and when now required. to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4) Previous notice Present notice

Person's votes Votino oower (5) Person's vote! \/ntinn murpr [5)

FPO 13,157,656 6.487o/o 10,521,787 5.188o/o

3. Changes in relevant interests

Particularsofeachchangein, orchangeinthenatureof,arelevantinterestofthesubstantialholderoranassociateinvotingsecuritiesofthecompanyorscheme,sincethesubstantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofcha nge

Person whoserelevant interest

changed

Nature ofchange (6)

Considerationgiven in relation

to change (7)

Class andnumber ofsecurities2ffp.tpd

Person's votes

affected

SEE ANNEXURE

rl. Present relevant interests

Particuiars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofrelevant

interest

Registeredholder ofsecurities

Person entitledto be registered

as holder E)

Nature ofrelevant

interest (6)

Class andnumber ofsecurities

FPO

Person's votes

SEE ANNEXURE 1

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604 page 212 15 July 2001

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to votinginterests jn the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name Address

Paradice lnvestment Mqt P/L L12,139 Macquarie Street, SYDNEY NSW2000

Signature kname PETER

here 01t 07 / 16

print

sign

MANLEY capacity COMPANY SECRETARY

(1)

DIRECTIONS

lf there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of anequity trust), the names could be included in an annexure to the form. lf the relevant interests of a group 0f persons are essentially similar, they may be referred tothroughout the folm as a specifically named group if the membership 0f each group, with the names and addresses 0f members is clearly set out in paragraph 6 0f theform.

See the definition of "associate" rn section 9 of the Corporations Act 2001.

See the definition of "relevant interest" in sections 608 and 6718(7) ofthe Corporations Act 200i.

The voting shares of a company constitute one class unless divided into separate classes.

The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

lnclude details of:

(a) anyrelevantagreementorothercircumstancesbecauseofwhichthechangernrelevantinterestoccurred. lfsubsection6TlB(4)applies,acopyofanydocument setting out the terms 0f any relevant agreement, and a statement by the person giving full and accurate details of any contract. scheme orarrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

(b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voti ng powers or dtsposal of the securjties towhich the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" if section I of the Corporations Act 2001.

Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, becom eentitled t0 receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must beincluded of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person irom whomthe relevant interest was acquired.

lf the substantial holder is unable to determine the identity of the person (eg, if the relevant interest arises because of an option) write "unknown".

Give details, if appropriate, of the present association and any change in that associalion since the last substantial holding notice.

{2)

(3)

(4)

(5)

(6)

(B)

(s)

(7)

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