NORWOOD RAISES US$10 MILLION FROM US INVESTORS

Norwood Abbey Limited (OTC:NABYF) (ASX:NAL) today announced that it has reached agreement with US institutional investors to raise US$10 million (approximately A$13.3 million). The agreement has been completed with the assistance of Jeffries & Co. of New York and BBY of Sydney. The funds are in the form of unlisted convertible notes. Indus Capital Partners, a private fund management group focusing on the Asia-Pacific region, is subscribing for US$7 million of the convertible notes and Tiedemann Global Emerging Markets US$3 million.

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