AUSTRALIAN GROWTH MANAGERS LIMITED ("AGML")

AGML is the holder of Australian Financial Services Licence No. 288721 (issued on 6 February 2008).

AGML is a wholly owned subsidiary of Primary Securities Ltd.

AGML is the responsible entity for five managed investment schemes:

• Plantation Forestry Hardwood Project - ARSN 115 525 196
• Plantation Forestry Hardwood Project No 2 - ARSN 087 818 782
• Australian Growth Timber Project No 3 - ARSN 093 113 565
• Australian Growth Timber Project No 4 - ARSN 096 164 153
• Australian Growth Timber 2002/2003 - ARSN 100 466 126

The management of all these schemes is subcontracted to RuralAus Plantation Management Pty Ltd, a wholly owned subsidiary of RuralAus Investments Limited.

RuralAus Investments Limited (and Australian Growth Managers Limited) came out of administration on 29 April 2005.  The new management has now terminated the leases (or licences) of those growers who did not pay their lease (or licence) and management fees.  The woodlots for the remaining growers are being reallocated to ensure all growers have viable woodlots. 

The schemes are based in Bremer Bay, Western Australia and Kangaroo Island, South Australia.

To view the most recent financial or plantation reports please use the following link:  www.ruralaus.com.au