sale of gold coast hotel, page-4

28 August 2008
The Manager
Company Announcements
ASX Company Announcements Office
SYDNEY NSW 2000
CP1 LIMITED (ASX code: CPK)
SALE OF GOLD COAST INTERNATIONAL HOTEL
Cira International Pty Ltd, a joint venture company owned by CP1
Limited and Raptis Group, announced today that it has entered into a
binding contract of sale with Amalgamated Holdings Limited for the
Gold Coast International Hotel at the sale price of $56.5 million.
Settlement expected to occur on or about 10 September 2008.
This divestment is in accordance with the Board’s focus on
consolidating and reducing debt in light of the current market
conditions.
CP1 LIMITED
Lee Danahay
Company Secretary
(07) 5572 8500