Jumbo Signs TMS Share Sale Agreement

May 12, 2005

ASX RELEASE – Thursday 12th May 2005

Jumbo Corporation Limited (JUM) is pleased to announce that it has signed a Share Sale Agreement to acquire Melbourne based online lottery business TMS Global Services Pty Ltd (TMS), a wholesaler and online retailer of lottery products through agreements with Tattersall’s (Victoria) and the NSW Lotteries Corporation.

As per the Heads of Agreement announced 22nd March 2005, the purchase is subject to shareholder approval and JUM has called a General Meeting of Shareholders to be held on Wednesday 18th May 2005 to vote on the acquisition. Details of this meeting were released on 31 March 2005. JUM has also recently completed a comprehensive Due Diligence on the acquisition. TMS has an unaudited Gross Transaction Value in excess of $19 million per annum and earnings before interest, tax, depreciation and amortisation of $925,000 for the 12 month period ending 30 June 2004. TMS has been profitable in FY03, FY04 and HY Dec 04 with increasing revenues. The acquisition of TMS will substantially strengthen JUM’s consolidated revenue and expands its operational activities into new growth areas. JUM has a Gross Transaction Value of $35 million per annum, revenues of $7.7 million and has been profitable in FY03, FY04 and has recently announced a profit of $247,857 for the 6 months ending 31 December 2004. For further information, please contact: Mike Veverka, CEO Email: mike@jumbocorporation.com Web: www.jumbocorporation.com

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