CHALLENGER LIMITED — Board/Management Information 2009

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MARKET RELEASE

RESIGNATION OF DIRECTORS

Tuesday 8 September 2009, Sydney –Mr James Packer and Mr Ashok Jacob have resigned from the Board of Challenger Financial Services Group Limited (ASX:CGF), effective today.

This follows last week’s sale by CPH of 122 million CGF shares.

Challenger CEO Dominic Stevens thanked both Mr Packer and Mr Jacob on behalf of the Board.

“James and Ashok have been valued and active members of the Challenger Board since their appointment in November 2003. Their commitment over the last 6 years has been significant to the development and growth of the company” said Mr Stevens.

Ends

Suzanne Evans, Head of Investor Relations, Challenger Financial Services Group. 02 9994 7125 Stuart Barton, Head of Marketing & Communications, Challenger Financial Services Group. 02 9994 7008

Further enquiry:

Challenger Financial Services Group Limited A.B.N 85 106 842 371