29/01/2009

Market update for half year ended 31 December 2008

Plan B Group Holdings Limited (“Plan B” or the “Company”) advises that, based on unaudited management accounts, for the half year ended 31 December 2008 (“1H09”) it expects net profit after tax (excluding any adjustment for goodwill impairment) to be in the range of approximately $1.6 million to $1.7 million.

The expected result is consistent with recent trading performance statements made by the Company, in particular at Plan B’s Annual General Meeting (“AGM”) in November 2008. It reflects a decline in revenue during the period, in line with the previously advised reductions in Funds under Management, Administration or Advice, and the high proportion of non-staff costs that are largely fixed in the short to medium term.

As indicated at the AGM, Plan B has been quick to implement a Company wide program to achieve significant savings in total operating expenses, the benefits of which will be ongoing in future periods. Plan B is pleased to advise that this program achieved an expected 10% reduction in total operating expenses in 1H09 compared with the previous corresponding period last year. The Company’s cost containment focus positions Plan B well to take full advantage of improvements in market
conditions.

The Company expects to finalise and release to ASX its results for 1H09 on 18 February 2009, at which time the Board will also advise on any non-cash adjustment it considers necessary to the carrying value of the goodwill in the Company’s New
Zealand operations given the present market conditions.