Hawkesbridge Private Equity wins new $50 million mandate

Information Release, 1 July 2005

Hawkesbridge Private Equity (Hawkesbridge) is pleased to announce that it has been awarded a $50 million mandate by the New South Wales Local Government Superannuation Scheme (NSWLGSS) to act as trustee and manager of the Regional Development and Private Equity Trust (RDPET). The mandate involves both managing the existing assets of the RDPET and a new cash committment.

CEO of NSWLGSS, Brett Westbrook, said that "Hawkesbridge's proposal to manage the Trust was the most innovative and detailed response received as part of the tender process. The Board of the LGSS was impressed by the experience of staff and their competencies as well as Hawkesbridge's track record in private equity."

Hawkesbridge Investment Directors, Joshua Rowe and David Plumridge said that "winning the RDPET mandate demonstrates the strength of the Hawkesbridge investment process and the success that the Hawkesbridge team has had over the last 2 years. We welcome NSWLGSS as a new investor. This now confirms that Hawkesbridge is recognised as a leading private equity fund manager."

This transaction increases Hawkesbridge's funds under management to $76 million. In addition to managing the RDPET, Hawkesbridge manages the $26 million Hawkesbridge Enterprise Trust which has made investments in ten companies to date, including Noble Beverages, RecruitASP, The Truffle Group, ET Australia and Smarttrack.

For further information, please go to www.hawkesbridge.com.au.