Hastings Diversified Utilities Fund : HDF notes APA announcement

Hastings Funds Management Limited ABN 27 058 693 388

AFSL No. 238309

Level 27, 35 Collins Street Melbourne VIC 3000 Australia T [phone]

F [phone]

www.hfm.com.au

Melbourne, London, San Antonio, Sydney

ASX Announcement

Hastings Diversified Utilities Fund (HDF) Total pages: 1

25 July 2012

HDF notes APA's announcement

A subcommittee of independent directors of Hastings Funds Management Limited (HFML), as Responsible Entity for HDF, notes APA Group's (APA) ASX announcement today that it intends to increase its takeover offer for HDF.

A subcommittee of independent directors of HFML will meet to consider the terms of the announcement and will keep the market informed of any developments as appropriate.

For further enquiries, please contact:

Colin Atkin

Chief Executive Officer

Hastings Diversified Utilities Fund

Tel: [phone]

Fax: [phone]

Email: [e-mail]

Website: www.hfm.com.au

Simon Ondaatje

Head of Investor Relations

Hastings Funds Management

Tel: [phone]

Fax: [phone]

Email: [e-mail]

Website: www.hfm.com.au

Jane Frawley

Company Secretary

Hastings Funds Management Limited

Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties including Westpac Banking Corporation ABN 33 007 457 141, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.