Investor Information Release – OFM/Century merger

Author: John McBain & Chris Martin
Date: 11/07/2006

Century Funds Management and OFM Investment Group

We are pleased to announce the merger of the Century Funds Management group of companies with the OFM Investment Group. The merger affects only the Century management company. The unlisted, direct property investment character of each investment fund remains unchanged.

OFM was established in 1980 as the Over 50’s Friendly Society. It de-mutualised in 2001 and listed on the Australian Stock Exchange in 2002. The merger of Century and OFM is the result of a well considered and planned process by two specialist fund managers both keen to leverage their respective strengths.

Century places a high value on its client and adviser partnerships and we intend to continue this focus going into the future. There are no plans to change the name of the Century group, its manner of operation or its executive and employee team. In particular:

• The existing Century team of John McBain, Jason Huljich, Ross Elsom, David Govey and Matthew Coy will have full responsibility for the day to day operation of the combined company’s property interests and activities.
• All members of the senior executive team have signed long term employment contracts and together hold the largest collective shareholding in OFM. There is a commitment to retain these interests.
• John McBain will join the OFM board. The Managing Director of OFM, Chris Martin, along with the other OFM directors, will join the Century board.

We attach an Information Brochure which sets out in detail the reasons behind the merger and the common vision the combined business has for the future. We shall also hold client briefings in Sydney, Melbourne and Brisbane to introduce you to the combined team.

We, at Century, greatly look forward to working with Chris Martin and his skilled team and to building the combined business, whilst retaining our strong commitment to personal service.

Yours faithfully,

John McBain
Century Funds Management Limited

Chris Martin
OFM Investment Group Limited

PS. Information Brochure attached in PDF format

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