INTERVIEW WITH MR. COLM O’BRIEN, CHIEF EXECUTIVE OFFICER, ASPERMONT LIMITED (ASP)

“Aspermont Enters New Sector”

http://www.brr.com.au/event/49534

WEDNESDAY, AUGUST 20, 2008, 10:15 AM.

            BRR    Welcome to Boardroom Radio. Today I am speaking with Mr. Colm O'Brien, the Chief Executive Officer of the Australian integrated media company,

10                    Aspermont Limited. Welcome, Colm and some recent good news for your shareholders with the announcement of another new venture for Aspermont.

            ASP     Thanks, James. Yes, we recently advised the market and our shareholders that we will be investing over 3 million into new venture with one of Australia's leading agricultural information providers, the Kondinin Group

15                    and also the Grain Growers Association.

            BRR    Yes, Colm, this is another information-related business for you but this time outside of your traditional mining sector focus.

            ASP     Yes, James. It is. Aspermont has established a joint venture business with

20                    Kondinin Group and Grain Growers specifically with a view to assisting in product development across a range of agriculture information services so we will take our experience and expertise from our more traditional sectors including mining and apply these into the agriculture and agribusiness sectors. This will include publishing, training, consulting, trade and investment

25                    conferences which are really all areas that Aspermont has a significant level of experience to date. Also Kondinin brings some very good specialist skills and a proven track record, particularly around the training and consulting aspect of that.

30        BRR    Yeah, more specifically, about the transaction, what is involved and how will the new venture, the Kondinin joint venture, actually operate?

            ASP     Look, Aspermont will take a 50% interest in the joint venture with the remainder of it being split between the Kondinin Group and GGA with Kondinin Group having slightly more than GGA in that aspect. The

35                    transaction itself is a little over 3 million of new capital into the business as pure working capital. This will occur probably over about a 3-1/2 to 4-year period and be very much directed towards product development. We have got an outstanding record in developing new products and services and information markets and we are really positive about the growth in the

40                    agribusiness in this country and also globally. So we think coming into sector...we are there at the right time, plenty of growth potential and market share to be earned through highly customized competitive offering and that is something we really understand, James.

45        BRR    Now, Colm with the mining sector and commodity market still performing very well, some shareholders could ask why would you not follow the same path, why would Aspermont not do more of the same.

            ASP     Well, we have done very well out of our traditional market, James, and intend to continue to do so. However, we view the agriculture sector as a key area of future growth, particularly in the provision of high quality technical, practical and educational products where there is probably good room for growth right now for that. The Kondinin joint venture itself represents a huge opportunity for Aspermont to enter this key growth sector with reputable and very well

5                      established partners.

            BRR    Colm, speaking of the partners, can you tell me a little bit about the new partners?

            ASP     Yes, look, very quickly, the Kondinin Group was established in 1955. It has

10                    remained one of the country’s most respected membership groups and produces a diverse range of information products. It has close to 7,000 members who very much respect the brand and respect the organization that was set up. It is also probably working in the sector that is still quite under serviced as regards quality information, which obviously is where we want to

15                    play. On the other side, the Grain Growers Association is Australia's single largest grain producer. It is a membership organization with approximately 17,000 members on the East Coast. They provide a range of information service as well to the members and indeed to the sort of broader grain growing community so look together it is a tremendous platform for us to

20                    contribute towards building further the investment in the joint venture also outlines Aspermont’s commitment to grow its current products and services across both existing and new sectors.

            BRR    From this point, this is, in fact, the second major announcement regarding

25                    investment in a new venture that Aspermont has made this year. How is the UK acquisition of mining communications progressing?

            ASP     James, it has gone exceptionally well since our April announcement. Technically speaking, it was not a new venture. We held a share in the mining communications business and hence, we already had a strong working

30                    relationship right across the organizations. This has allowed us to really roll up our sleeves and deliver what can best be described as an amazing opportunity. The group now owns one of the world's most established mining publishers and competent groups with clear synergies with our existing businesses here in Australia. I suppose what we have learnt in the first few

35                    months of the acquisition and integration is just how much potential we now have as a group to develop a platform from which to promote the products and services into new and indeed existing geographical markets for Aspermont. At the moment, we are working through this over the rebranding, product alignment and product expansions and I am looking forward to

40                    updating the market as these new initiatives come through. In essence, James, we remain absolutely committed to growing all our sectors and delivery channels. We continue to seek out quality partners that complement our strategic direction. From my point of view, I am incredibly excited about the Aspermont story and the myriad of opportunities that lay before us as a

45                    group.

            BRR    Well, Colm, we certainly appreciate you taking the time to give us an update on the latest news from Aspermont, and we look forward to the progress with the business in the near future as well.

            ASP     Thanks, James.

INTERVIEW CONCLUDED

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