IMPORTANT NOTICE TO DEBENTURE HOLDERS: RECEIVERS & MANAGERS APPOINTED

Joseph Hayes and Tony McGrath of McGrathNicol were appointed Receivers and Managers of Hastings Capital Limited ("HCL") by the secured creditor, Permanent Nominees (Aust.) Limited on 20 August 2008.

Control of the business and assets of HCL rests with the Receivers who are assessing the company's position and action to be taken to maximise the return to debenture holders.

Interest payments and redemptions have been frozen as at 20 August 2008.

The Receivers will report to debenture holders in the coming weeks to appraise investors of the financial position of HCL and the various options available.

If you have any further queries or questions, please use one of the following:

(i) Visit our website (www.mcgrathnicol.com) and select the "Administration section" then "HCL" where regular updates and information for investors will be posted.

(ii) Call the HCL debenture holders' information hotline on 1300 654 221 or (02) 9976 0332.

(iii) Write to:

• The Receivers and Manager
• Hastings Capital Limited (Receivers and Managers Appointed)
• GPO Box 9986
• Sydney NSW 2001
• By facsimile: (02) 9338 2699

(iv) By Email: HCL@mcgrathnicol.com

hastings capital limited is part of the hastings financial services group.