14 August 2012

ASX Announcement Unaudited Net Tangible Asset Backing and Investment Update - 31 July 2012

The unaudited Net Tangible Asset (NTA) backing per share for Signature Capital Investments Limited (the

Company) as at 31 July 2012 is as follows:


NTA per share - before deferred tax on unrealised income and

31 July 2012 A$ per share (unaudited) 30 June 2012 A$ per share (unaudited)

gains (1) 0.373 0.382

NTA per share - after tax 0.373 0.382

The Net Tangible Asset value is determined in accordance with Australian Accounting Standards (AASBs) including Australian interpretations adopted by the Australian Accounting Standards Board (AASB), the Corporations Act 2001 and using unaudited market value estimates for the Company's investments at the end of the month being reported. The number of shares used for the purpose of the NTA calculation at 31 July 2012 was 66,954,310 (1) The calculation is based on the Company's interpretation of ASX Listing Rule 4.12 and industry practice.

In the event the Company generates future taxable profits, and subject to meeting the relevant tests imposed under Australian tax legislation, the Company has an unrecognised deferred tax asset which may reduce tax payable on these profits. As at 31 July 2012, the unrecognised deferred tax asset was $41.0 million (61.2 cents per share). The ability to utilise realised tax losses is dependent upon the Company meeting the Continuity of Ownership Test or, failing that, the Same Business Test as set out in Division 165 of the Income Tax Assessment Act 1997. These tests are applied at the time the Company seeks to utilise its losses.

Investment Portfolio

The investments of the Company based on unaudited market value estimates as at 31 July 2012 were:

Investment Strategy Currency Value A$ million %


Blackrock UK Equity Hedge Fund Equity Hedge - Europe GBP 2.4 9.7

Tasman Market Neutral Fund Equity Hedge - Australia AUD 2.4 9.7

Vinva Australian Equity Market Neutral Equity Hedge -Australia AUD 2.6 10.4

King Street Europe Arbitrage - Event Driven EUR 2.0 8.0

Balestra Global Trading USD 2.0 8.0

Canyon Balanced Fund Arbitrage - Event Driven USD 1.1 4.4

Pacific Alliance Asia Arbitrage - Event Driven USD 1.0 4.0

Investment proceeds receivable USD 0.4 1.6

Cash and equivalents USD 3.9 15.7

Cash and equivalents AUD 7.1 28.5

Total investment assets 24.9 100.0

The investment portfolio comprises investments and proceeds receivable denominated in a mix of currencies, namely USD, EUR, GBP and AUD. Key currency rates for the AUD as at 31 July 2012 were 1.0526 (USD),

0.6701 (GBP) and 0.8578 (EUR).

Signature Capital Investments Limited