Numeria Finance Limited (In Receivership)

Press Release
No embargo
February 18 2008

Numeria Finance Limited (In Receivership)

Grant Graham and Brendon Gibson of KordaMentha, Receivers of Numeria Finance Ltd, announced today an estimate of the outcome to debentureholders who are owed $6.7million.

"From our early analysis, we expect to return 38-51 cents in the dollar of the principal outstanding at receivership, to debentureholders. A further 19 cents could be returned depending on successful resolution of claims already in dispute with the first Receivers of Capital + Merchant Finance Ltd (In Receivership)" said Mr Gibson.

"While legal issues will determine the outcome in the related party advances under review and in dispute, the profile of the Finance Book and Loans is also a risk area. One-third of the Finance Book is in arrears. We will update debenture holders periodically as we progress. However we are mindful of the concerns of debentureholders and wished to give an early estimate to debenture holders", said Mr Gibson.

"We are continuing collections of the loan book and are responding to parties interested in purchasing the loan book" he added.

ENDS

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