27 June 2008 ASX ANNOUNCEMENT A.B.C. LEARNING CENTRES LIMITED (ASX: ABS) MARKET UPDATE ON UK BUSINESS The Company wishes to respond to recent market speculation regarding the sale of its UK business. The Company has previously advised the market of an on-going sale process for the UK Vouchers business which is consistent with the Company’s stated aim of de-leveraging the business and strengthening the Company’s capital structure. The sale process for the Vouchers business remains open. If a successful transaction was achieved it would not conclude in the 2008 financial year. The Company has previously advised it was considering selling its property assets in the UK. In addition, the Company is now considering selling the UK nurseries business with the Vouchers business and the UK property assets in a single transaction. A number of highly conditional indicative proposals for the entire UK business have been received. A sales process has commenced and discussions are continuing with interested parties. The details of any successful transaction will be advised to the market. The current sale process envisages that the transaction will complete in the first half of the 2009 financial year and the profit recognised as a one-off item. The Company has given previous guidance of an approximate $100 million profit on the sale of the Vouchers business. If the Company concludes a sale for the entire UK business the profit would be lower as the sale would crystallise into cash the previously recognised $51.1 million discount on the acquisition of the Leapfrog Nurseries business. The Company is unable to give any further guidance at this early stage of the process. Contacts: Investors and Analysts Andrew Barber, General Manager Corporate Affairs 07 3908 2594 Media enquiries Lisa Keenan Kate Inverarity Scott Emerson nightingale nightingale Crook Publicity 0409 150 771 0413 163 020 0401 998 181 03 9614 6930 03 9614 6930 07 3221 7155
ABS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
