Company Update and Share Buy Back - 30 April 2007

Apr 30, 2007

ASX RELEASE – Monday 30 April 2007

Jumbo Corporation Limited is a successful online lotteries and ecommerce company that operates the popular web site. The company has been trading profitably for the past 4 years and expects to continue to do so.

Jumbo has agreements with Tattersalls’ and NSW Lotteries Corporation until 2010 to resell tickets in popular Australian lotteries such as OzLotto and Powerball. The tickets are sold on the Internet via with sales driven by an aggressive search engine marketing campaign and an expanding affiliates network. Jumbo also owns and operates a network of lottery terminals throughout a number of Pacific Islands such as Fiji, the Cook Islands and Norfolk Island. The terminals sell tickets in Australian lotteries and are promoted via traditional marketing on the islands.   Share Buy Back Jumbo has previously announced its intention to grow through acquisition and has been actively engaged in indentifying and evaluating a number of acquisition opportunities in the E-Commerce and Information Technology Industries. The Board regularly reviews its capital management strategies in order to optimise shareholder value. A share buy back is one such strategy and inter alia the Board has rountinely considered a share buy back having due regard to prevailing share price amongst other factors. At current market prices, Jumbo is capitalised at approximately $8 million. The Directors believe that, at prevailing prices, Jumbo shares represent a better investment opportunity in its particular area of interest than other investment opportunities available to the Company at this time. Following receipt of independent advice, the Directors believe that a share buy back represents a sound capital management initiative to enhance shareholder value. Accordingly, the Company has announced its intention to undertake a on-market share buy back of up to 37 million shares (or 10% of the issued capital) over the next six months. During this period, the Company intends to continue to seek and evaluate appropriate acquisition opportunities. The decision to buy back shares is subject to regular review based on consideration of the Jumbo Corporation Limited share price at the time, financial performance at the time and appropriate acquisition opportunities as may become available to the Company.   Appointment of Share Buy Back Broker Macquarie Equities Limited has been appointed as the broker for the share buy back. The proposed buy back will be undertaken between 1 May, 2007 and 31 October, 2007.   For further Information: Mike Veverka CEO, Jumbo Corporation (07) 3831 3705

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