acquires communication services provider techex

MELBOURNE – October 6, 2004 - Destra Corporation Limited (ASX:DES) has
announced the acquisition of communication services provider Techex
Communications Pty Ltd (Techex). Techex predominantly provides business
grade data communication services which is a complementary business
offering to Destra’s existing web hosting services.

“The data communication services supplied by Techex are complementary to
the hosting and domain registration services provided by Destra,
allowing
us to offer a one stop shop solution to our expanding client base,“ said
Domenic Carosa, Destra’s CEO. “This acquisition is an important step in
Destra’s broader strategy to increase its total business solutions,
breadth of product offering and growth in business customer numbers.”

Techex had revenues of around $4.5 million for FY04, with normalised
EBIT
profit of over $700,000. The purchase consideration includes a first
tranche payment of $1.5 million composed of $1.2 million in Destra
shares
and $300,000 cash. Subsequent payments are to be made after a 12 month
earn-out period. Voluntary escrow arrangements have been agreed by
Techex
shareholders.

Destra is on target to generate profit for the current financial year
and
the Techex acquisition should bring additional profitability to the
organisation. Destra recorded revenues of $9.1 million for the FY04.

The majority of Techex’s communication services is delivered to
businesses
and government agencies throughout Australia via its national reseller
channel of 130 ISPs, system integrators and value added resellers. “Both
organisations are committed to their channel partnerships and the
enhanced
product range and geographic coverage will add value to these strong
partnerships,” added Carosa.

Synergies between Destra’s enterprise web hosting division
(OzHosting.com
Advanced) and Techex offer cross selling opportunities. The deal enables
each company to leverage its respective product offerings to its
existing
customer base in order to maximise revenue growth and profitability as
well as delivering cost savings from economies of scale. Operational
cost
savings will result with the merger of the two offices as well as
integration of some of the back office functions and sharing of
bandwidth
costs.

“Our union with Destra complements our market offering with best of
breed
hosting, server co-location and domain registration services,“ said
Chris
Collinge, Techex Managing Director. ”We will now be able to offer our
customers a full range of services with a single point of contact and a
single bill. In an increasingly complex business environment, we believe
this is the future of service provision in Australia and we are
confident
that Destra will be right at the forefront."

“Destra will continue to explore complementary business opportunities as
they arise,” concluded Carosa.