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St Laurence Property & Finance Annual Result

11 April 2006

St Laurence Property & Finance Annual Result

St Laurence Property & Finance Limited (SLP&F) is due to announce its result for the year ended 31 March in May 2006. SLP&F previously advised the market in November 2005 that it expected its full year result to exceed last year’s net profit of $18.06 million, subject to the market conditions at the time being maintained.

SLP&F announced today that, due to continued buoyant property market conditions, it expects a significant increase in the valuation of its group property portfolio as at 31 March 2006. As a result, SLP&F now expects its full year profit to 31 March 2006 to be in the range of $30 to $35 million.

Updated independent property revaluations for the portfolio are expected to be confirmed over the next two weeks.

SLP&F will give further guidance on its full year profit result following final confirmation of the updated property revaluations.

ENDS

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