Australian Stock Exchange Preliminary Final Result

28 August 2007 The Manager Company Announcements Office Australian Stock Exchange Limited

Preliminary Final Result For The Financial Year Ended 30 June 2007

Ariadne Australia Limited (“Ariadne”) has today released its preliminary final result, reporting a profit before income tax of $3,562,000 and a profit after income tax of $8,338,000 for the year ended 30 June 2007 (before and after income tax profit for the previous corresponding period was $7,126,000)

Property The Ariadne Property Division reported a profit of $4,680,000 for the year. Disposal of the Portal Stage 3 site generated a significant profit and cash return for the group. Profits were also earned from continuing sales in the Botanic and Element on Coolum projects.

The Botanic land subdivision is now completely sold and five units remain for sale in Element on Coolum. The sale of Ariadne’s 50% interest in Viridian Noosa generated $27,000,000 in cash which will be redeployed in new projects. The Viridian Noosa Stage I & II projects were successful and contributed solid profits in previous years. A loss was incurred on the sale of Element on Coolum Stage III.

The Skyline project, a 192-unit riverside residential apartment development in the Brisbane CBD, is scheduled for completion mid-October 2007. This project, a joint venture, with Seymour Group and Watpac Limited is 80% sold. The sales rate for remaining units is expected to lift post-completion, with remaining stock forecast to be sold by June 2008.

New appointments have been made to the company’s senior management team in order to actively pursue new property development and investment opportunities.

Ends

© Scoop Media