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CHALLENGER LIMITED M&A Activity 2005

Dec 18, 2005

64641_rns_2005-12-18_616fd5a8-805c-4b69-ac2e-8b7497901759.pdf

M&A Activity

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MARKET RELEASE

19 December 2005

UPDATE ON ENDEAVOUR PORTS OFFER FOR PD PORTS

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES, UNITED KINGDOM, CANADA OR JAPAN.

19 December 2005, Sydney - Challenger Financial Services Group Limited (CGF) and Challenger Infrastructure Fund (CIF - ASX:CIFCA), as members of the Endeavour Ports Limited consortium, today advised that the consortium would not be revising its offer for PD Ports plc.

ENDS