Tuesday 20th October, 2015

Shareholders are advised that QCLNG has requested the repayment of the remaining AUD112.5 million advance payment. This repayment was planned and has been included in the Group's liquidity analysis performed earlier this year.

Following the completion of the third and final step in Aveng's strategy to improve its balance sheet and liquidity position, namely the conclusion of the sale of various properties, combined with current levels of cash generation, the Group has sufficient cash and facilities at its disposal. This position remains in line with the trading statement issued on 11 June 2015 that stated: ?Considering the Group's operating cash flows (including the repayment of the QCLNG advance, if required), future funding requirements, available facilities and related covenants, the Group is considered to be adequately funded at this time and there is no current need for additional capital.?

Aveng intends to settle this liability on or around 28 October 2015. Once settled, Aveng will have removed the cash flow risk on the QCLNG project and will continue to vigorously pursue its legal claims through the arbitration process.

The arbitration proceedings relating to the QCLNG project are well advanced and the formal hearing will start next month, whilst a final award is expected around August 2016.
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