ALF Group Holdings AG – Reverse Split Update Zurich – 29th November 2010 – The Directors of ALF Group Holdings AG (ALF) are pleased to confirm that all the required documentation to facilitate the reverse split was completed and lodged within the timetable previously announced. All necessary documents including the global share certificates are with Clearstream for them to manage the process and issue the new shares, which includes the publication of a notice of the reverse split. The Directors will keep the market informed as they receive information from Clearstream.

Whilst the final process is slightly delayed to our original expectation, it is vitally important that Clearstream are allowed sufficient time to ensure that the reverse split is done correctly and professionally. ALF expects to receive an update from Clearstream shortly and will announce it as soon as possible.

At that time ALF will also publish full details of the application process for relevant shareholders to be allocated their free shares in ALF from Kingsley Finance Co Limited For further information please contact: ALF Group Holdings AG Level 29, Chifley Tower 2 Chifley Square Sydney, NSW 2000 Australia Telephone +61-2-9293-2500 Fax +61-2-9293-2930 Website: www.alfgroupag.com E-mail: Legal Disclaimer This press release contains forward-looking statements based on beliefs of ALF management.

When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend", "plan" and "project" are intended to identify forward-looking statements.

Such statements reflect the views of ALF Group Holdings AG as of the date made with respect to future events and are subject to risks and uncertainties.

Many factors could cause actual results to be materially different from those projected here, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services and changes in business strategy.

ALF disclaims any intention or obligation to update these forward-looking statements.
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