Living and Leisure Australia Group

Financial Report for half year ended 31 December 2008


02/27/09

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Our Business

Living and Leisure Australia Group operate in the leisure industry through Australian Alpine Enterprises Pty Ltd ("AAE"), the Oceanis Group ("Oceanis") and the Treetop Adventures business. Our businesses are outlined below:

Snow Holidays from AAE
Hotham Hotham, in Victoria, is widely regarded as the snow enthusiasts' mountain. Known as the 'powder capital' of Australia, Hotham has some of the best snow sport terrain around.
Falls Creek Falls Creek is a beautiful snow laden village and Victoria's largest ski and boarding resort. Falls Creek is famous for its village which has over 25 restaurants and a large variety of accommodation to choose from.
Aquariums by Oceanis

Visit www.oceanisgroup.net for more information about the Oceanis Group.

Melbourne Aquarium
Home to thousands of aquatic animals, the must-see Melbourne Aquarium is an entertaining and educational experience with four exciting worlds to discover and enjoy. The uniquely different adventures of Antarctica, Weird & Wonderful, River to Reef and Sharks Alive, along with daily animal feeds and diver presentations, make Melbourne Aquarium a completely engaging experience.

UnderWater World UnderWater World, Sunshine Coast Queensland: Be surrounded by over 25,000 weird and wonderful sea creatures at Queensland's largest Oceanarium and Aquarium. A premier attraction on the Sunshine Coast, UnderWater World offers an amazing experience for people of all ages. Come face to face with sharks, be enchanted by seals as they show off, gasp at crocodiles and marvel at the cheeky otters. Visitors can also have the experience of a lifetime by diving with the sharks or swimming with the seals!
Siam Ocean World
Siam Ocean World, Bangkok Thailand: Your journey in Siam Ocean World will take you through seven different zones - 'Weird and Wonderful', 'Open Ocean', 'Deep Reef', 'Rainforest', 'Rocky Shore', 'Living Ocean', and 'Sea Jellies'.
Busan Aquarium Busan Aquarium, Korea: The Busan Aquarium is dedicated to the education and entertainment of its visitors to increase awareness and encourage actions that positively contribute to the improvement of the world's aquatic environments. Take pleasure in a visit to Busan Aquarium situated on beautiful Haeundae Beach.
Shanghai Chang Feng Ocean World Shanghai Chang Feng Ocean World ("SCFOW"): At SCFOW, we welcome you to the largest shark and beluga exposition in China and the most beautiful ones in the world. SCFOW was opened in 1999 at a cost of in excess of US$20 million. Since its opening, SCFOW has received over 4 million visitors. The aquarium is home to over 10,000 animals from 300 species. Aquarium display is located just beneath an ornamental 13 meters deep lake under in Shanghai famous park, which poses major experiences with the Amazon rainforest, Caribbean coral reefs, mysterious Deep Ocean, Penguin display. Underwater and animal shows are one of the major features in the aquarium. The 2,000 seater Beluga Whale Show stadium was opened to the public in 2004 at a total investment of RMB50 million. Beluga show is the only polar mammal show in Eastern China. More animals will join in our big family soon; they are California sea lions, Africa fur seals, Japan dolphins, and Polar beluga. At the meantime, the new performance will be the most spectacular marine mammal shows in China.
Treetop Adventures

Visit www.australiantreetopadventures.com.au for more information about the Australian Treetop Adventures.

Otway Fly Otway Fly (Otway Ranges, Victoria, Australia): Elevated 600 metres high, the Otway Fly Treetop Walk and Zip Line Tour is set in the tree tops of the magnificent Otway Ranges, approximately two-and-a-half hours from Melbourne by road. The Otway Fly features a 45 metre high viewing tower, unique springboard cantilever and a zip line that traverses from one platform to another, all high within the canopy of a Beech Myrtle forest.
Illawarra Fly Illawarra Fly (Knight's Hill, New South Wales, Australia): Illawarra Fly is set on a prime location on Knight's Hill escarpment, just one-and-a-half hours drive from Sydney, overlooking the vast coastal strip from Kiama through to Illawarra. Illawarra Fly features a spiral lookout tower, two cantilever arms to the edge of the escarpment, cafe and arts and craft centre.