CEO Address to Shareholders - November 2006

Nov 28, 2006

ASX RELEASE – Tuesday 28th November 2006

Thank you for attending the 2006 Annual General Meeting. The past year has been devoted to consolidating the TMS business and also to prepare Jumbo for future organic and acquisitive growth. As the dust settles from the TMS acquisition, we have been able to devote more resources in seeking new acquisitions in the technology area.

The full year results show our 4th consecutive year of increasing profit growth with an EBITDA of $870,000 and NPAT of $787,000. While a few expected higher, it is still a positive result during a time when many challenges spring up following an acquisition.   A great deal of time and effort was spent on 2 important projects. 1. The redevelopment of, and 2. The development of the foundation for our own range of proprietary lottery games.   Last month the new web site was launched and it was much more than a new look. The entire site was rewritten in a way that enables us to launch new marketing campaigns and will deliver new features for our customers. If you haven’t already done so, I urge you to try out the new site. Last month also saw the first details of our plans to launch our own range of lottery games. These games are designed to accelerate our growth internationally where we have complete control over game design. We have also secured an insurance policy for a $1 million lottery which will be officially released shortly. While the recent changes in US legislation did not have a material impact to our lottery division, it did have an impact to Global Approach Limited (ASX:GLO), a publicly listed company in which Jumbo is a substantial shareholder. Yesterday Global Approach announced a deal to unwind the recent acquisition of Tusk. This has the effect of increasing Jumbo’s shareholding from 5% to 18% by cancelling 155 million shares thus reducing the number of shares on issue from 219 million to 64 million. This prepares the company for a new direction and hopefully an increase in the value of Jumbos investment. I note that the GLO share price has already made a positive move. There are also a few new faces on the board this year. Mr David Barwick and Mr Jon Starink have joined the board to replace Mr David DeCampo, and Mr David Taplin has become Company Secretary following the passing of Mr Garry Clark. The new board brings renewed vigour in unearthing acquisitions and other opportunities for your company. I acknowledge the efforts of my fellow directors, the entire staff of Jumbo here in Brisbane, Melbourne and overseas as we look forward to an exciting year ahead.   Mike Veverka CEO Jumbo Corporation Limited

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