ASX RELEASE


24 August 2012
ASX Market Announcements
20 Bridge Street
SYDNEY NSW 2000
Dear Sir / Madam

Response to newspaper comments regarding Watpac's Property Development business

I refer to the article published on Tuesday 22 August 2012 on page 46 of the Australian Financial Review titled
'Watpac takes a $90m hit on the way to the exits'. The article claimed Watpac was "quitting" its Property
Development business.
As a result of the article, Watpac has received a number calls and comments from concerned company stakeholders with regards to the accuracy of the newspaper's statement.
Watpac would like to clarify its position in relation to this matter.
The statement was not based on any comment from Watpac. On the contrary, Watpac is currently implementing a comprehensive strategy in respect of its property development assets, which involves two key components: