Chief Executive Officer's address to AGM

Nov 27, 2002

27 November 2002 Company Announcements Australian Stock Exchange Limited Level 6, Riverside Centre 123 Eagle Street Brisbane QLD 4000

Subject: Chief Executive Officer's address to AGM

Dear Sirs,

Attached is a copy of the text of the Chief Executive Officer's address to the Jumbo Corporation Limited annual general meeting of shareholder, which commenced at 3:00pm today.

For further information please contact Mike Veverka, CEO of Jumbo Corporation on 07 3831 3705. Yours faithfully Jumbo Corporation Limited Bruce David Burrell Company Secretary           ADDRESS BY MIKE VEVERKA - CEO OF JUMBO CORPORATION - TO THE ANNUAL GENERAL MEETING OF SHAREHOLDERS HELD AT 3:00PM ON WEDNESDAY 27 NOVEMBER 2002   I would like to welcome all shareholders to the 2002 Annual General Meeting of Jumbo Corporation Ltd.   2nd Year OF CONTINUED GROWTH I am please to report that the 2002 financial year was the company's second year of improving results, with 4 straight quarters of increasing turnover and revenue. The company also turned around its negative cash flow into an increasing positive cash flow in the 3rd and 4th quarter. I think it's worth comparing the results for the most recent September 2002 quarter with the corresponding quarter 1 year ago. *turnover up from $1.24 million to $7 million per quarter *revenue up from $320,000 to $1.5 million per quarter *opening cash flow improved from a negative $44,000 to a positive $147,000 per quarter This was primarily a result of our successful implementation of the Jumbo ecommerce software that was completed 2 years ago in late 2000. From that time forward the company has grown for 9 straight quarters during a very difficult time in the industry.   INCREASING PRODUCT RANGE Our range of products has increased over the year to give us a broader foundation to grow revenues. DVD's and CD's are our latest addition with sales commencing from the Jumbomall website ahead of the busy Christmas season. We are expanding the range of titles to offer over 12,000 DVD and over 75,000 CD titles which wil rival many of the biggest DVD and CD sites on the Internet. The products will initially be only available to customers in the USE and Canada which remains the main market for Jumbo.   BENON TECHNOLOGIES PTY LTD Benon Technologies, the operating company for the Jumbo business, performed well in the 2002 financial year with its first annual profit. this company is responsible for the majority of the results for the Jumbo group and is expected to continue its growth in the year ahead.   STARTUP COSTS IN SUBSIDIARY COMPANIES During 2001, Jumbo supplied startup capital for Building Sit Services (Aust) Pty Ltd, Dealer Dan Pty Ltd and Online Computing Australia Pty Ltd. This had a significant contribution to the loss recorded for the 2002 Financial year. All these companies are now up and running and require minima further capital. My expectation is for these companies to start making an improved contribution to the group in the year ahead.   SUCCESSFUL CAPITAL RAISING Towards the end of the 2002 financial year, Jumbo successfully raised $180,000 from its shareholder share purchase scheme. I am happy with this result considering the difficult market conditions and I would like to thank the shareholders for their support.   THE VISION AHEAD Now that the company has reached its current size, a number of challenges lie ahead to grow to the next level. We have already begun planning and executing strategies to allow the company to continue its growth. At last years AGM I said that I expected the share price would eventually reflect what I consider to be the true value or the company. despite our positive results, this has not yet happened. However I still expect that as we continue tog row more shareholders will begin to realise the value in Jumbo resulting in a strong share price. The last 2 years have demonstrate that the Jumbo software can perform well and that the business can grow strongly. I am encourage by the results and would like to thank the rest of the Jumbo team for their hard work over the past year. (For further information please contact Mike Veverka on 07 3831 3705).   Mike Veverka CEO Jumbo Corporation Limited Phone 07 3831 3705 Fax 07 3831 9720

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