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MEDIA RELEASE ? FOR IMMEDIATE RELEASE

AusGroup wins A$16m contract for

Onshore Gas Plant

Storage tanks for Onshore Gas Plant

Part of Northern Australian Gas Project

SINGAPORE ? 26 Nov 2007

an energy and resources specialist, would like to announce that it has won a contract

worth approximately A$16 million for work on an onshore gas plant.

Under the terms of the contract, AusGroup will design, supply, fabricate and construct 4

storage tanks to be used for an unnamed major client?s onshore gas plant. The contract

will commence immediately with completion expected in approximately 9 months.

The tanks will be fabricated in AusGroup?s operational headquarters at Kwinana, Perth

and assembled at the nearby Australian Marine Complex (AMC) on specially designed

grillage. Upon assembly, the tanks will be loaded from the AMC waterfront onto a client

supplied barge and transported more than 3000km to the client?s onshore gas plant site

located in the Northern Territory, Australia.

AusGroup will also be showcasing its logistical expertise in such projects by providing

support to the construction company responsible for this project. The construction

company will use a rail and winch system designed and supplied by AusGroup during? AusGroup Limited (?AGL? or ?AusGroup? or ?the Group?),

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the installation of the storage tanks under the supervision of AusGroup?s site

management team.

Mr Stuart Kenny, Managing Director of AusGroup commented, ?This contract continues

to display the depth of expertise and record being developed by AusGroup as a

specialized service provider to the strengthening Oil and Gas market in Australia. With

AusGroup?s track record in securing work with major players, this translates to an

abundance of opportunies to win further contracts.?

--The End--

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ABOUT AUSGROUP LIMITED

AusGroup Limited is a mainboard-listed energy & resources specialist. It is primarily based in

Australia, where it is a dominant player in the supply of total engineering solutions, which includes

fabrication, mechanical installations and maintenance. Being involved in the building, maintaining

and upgrading of infrastructure, plant and equipment used in the extraction and processing of

energy & resources, AusGroup is well positioned to benefit from the increasing capital

investments in these industries. Through its acquisition of Cactus Engineering, AusGroup has

established a presence in Singapore, which will be used as a platform to more regional growth.

For more information please visit our website at: www.ausclad.com.au

ABOUT BLACKTIP PROJECT

In June 2006, Eni started the development of the Blacktip gas field located in the Timor Sea,

approximately 110 km off the coast of Northern Australia. The development of this project

envisages the drilling of two development wells, the installation of a production platform, the

laying of a 108 km long offshore pipeline and the construction of an onshore gas treatment plant

with a capacity of 1,3 billion cubic meters/year. The Blacktip field is fully owned and operated by

Eni and is located in the Bonaparte Basin at a water depth of some 50 meters.

Issued for and on behalf of Ausgroup Limited

By Financial PR Pte Ltd

For more information, please contact:

Mark LEE, Marklee@financialpr.com.sg

James KOH, James@financialpr.com.sg

Tel: (65) 6438 2990

Fax: (65) 6438 0064