Realestate.com.au - Ray White Group Sells REA Group Shares Wed, 1 Jul 2009 17:23:00 +1000       8 months, 3 weeks ago

ASX Announcement 1 July 2009 Ray White Group sells REA Group shares REA Group Ltd (“REA”) has been informed by the Ray White Group that Ray White Group sold its shareholding in REA yesterday, with the sale of 13,503,584 shares. This represents 10.6% of REA's issued share capital. REA has been informed that this sale of shares was to a range of existing and new shareholders, with the greater number of the shares being sold to new shareholders.

Sam White, Deputy Chairman of the Ray White Group, will retain his personal shares in REA, and remains a director of REA. Sam White said: “I remain committed to the REA Group as both a shareholder and as a member of the board. The sale of the shares owned by the Ray White Group will allow Ray White Group to invest back in our core family business and fund other emerging opportunities.” Greg Ellis CEO of the REA Group said: “We are excited about the expansion of the share registry across the Australian investment community.

I am also pleased that Sam remains a board member and shareholder.” “As a business we still see Sam White as both an important customer and a valuable member of our board, taking into consideration his knowledge and expertise in the property market.” For further information please contact: Georg Chmiel 03 9843 4262 e: georg.chmiel@rea-group.com REA Group Limited ABN 54 068 349 066 Level 1, 678 Victoria Street, Richmond Vic 3121, Australia t +613 9897 1121 f +613 97987 1114 w rea-group.com.