Sydney

Level 41, Aurora Place 88 Phillip Street Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au

Telephone 02 9994 7000 Facsimile 02 9994 7777

19 February 2007

The Manager Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

Dear Sir

Re: Notice of ceasing to be a substantial holder ~ Wide Bay Australia Limited (WBB)

We enclose notice of ceasing to be a substantial holder in Wide Bay Australia Limited. This notice is given by Challenger Financial Services Group Limited and each of its subsidiaries named in Annexure 1 to this notice.

Yours faithfully

Sysne Koppenhamp

Suzie Koppenkastrop Company Secretary

attach

Level 10, 101 Collins Street PO Box 297, Flinders Lane, Melbourne VIC 3000 Telephone 03 8616 1800 Facsimile 03 8616 1899
Level 9, CUA Building 175 Eagle Street GPO Box 3234, Brisbane QLD 4001 Telephone 07 3218 8000 Facsimi Melbaurne Brisbane Perth Adelaide

Challenger Financial Services Group Limited ABN 85 106 842 371 Challenger Group Services Pty Limited ABN 91 085 657 307
Challenger Life No.2 Limited ABN 44 072 486 938 AFSL 234670 Challenger Commercial Lending Limited ABN Challenger Usted Investments Limited ABN 94 055 293 644 AFSL 236 887 CIF Investment Trust 1 ARSN 114 139 703 CIF Investment Trust 2 ARSN 114 139 632
Challenger Wine Trust ARSN 092 960 000 Challenger Management Services Lim

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Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

1. Details of substantial holder (1)

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial inciding notice to the company or scheme are as follows:

3. Changes in association

The following persons who have become associates (3) of ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

4. Addresses

The addresses of persons named in this form are as follows:

Signature

This is page 1 of 3 pages of Annexure 1 referred to in Form 605 signed by me and dated 19/02/2007

Suzie Koeppenkastrop
Suzie Koeppenkastrop
Company Secretary

This is page 2 of 3 pages of Annexure 1 referred to in Form 605 signed by me and dated 19/02/2007

Suzie Koeppenkastrop
Suzie Koeppenkastrop
Company Secretary

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This is page 3 of 3 pages of Annexure 1 referred to in Form 605 signed by me and dated 19/02/2007

Suzie Kooppenkastrop
Company Secretary

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This is page 1 of 1 page of Annexure 2 referred to in Form 605 signed by me and dated 19/02/2007

Sur 2 Koppenhearing

Transactions on ordinary fully paid shares:

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