Villa World : Eynesbury Sales Update

30 May 2014

As previously announced, the Company has entered into unconditional contracts for the sale of the Eynesbury project (in which the Company holds a 50% interest).
Settlement of the sale is in two tranches. The first was scheduled for 30 May 2014 (having been previously extended by agreement) and the second is scheduled for 2 March 2015.
The purchaser has paid deposits totalling $6 million. On 31 January 2014, the total deposits were released to the Eynesbury Joint Venture.
The Company advises that agreement has been reached with the purchaser to extend settlement of the first tranche until 27 June 2014, in exchange for payment of an extension fee by the purchaser. The purchaser has the right to call for settlement at any earlier time.
The settlement date for the second tranche remains unchanged.

For investor and media enquiries: Craig Treasure

Managing Director Tel: (07) 5588 8888 securityholder@villaworld.com.au

Shareholder queries: Email: securityholder@villaworld.com.au; Website: www.villaworld.com.au

Online: www.investorcentre.com; By mail: GPO Box 2975, Melbourne VIC 3001

Tel: (within Australia) 1300 651 684: (international) +61 3 9415 4000

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