Press Release

27 October, 2005 An idea to generate new opportunities and stimulate growth for the local business community will be realised today with the official opening of the Wollongong Exchange at the City Beach Function Centre. The Wollongong Exchange is a joint initiative of the Newcastle Stock Exchange (NSX), Wollongong City Council and the Illawarra Business Chamber. While the NSX provides the infrastructure for the Wollongong Exchange, it will operate with the full involvement of its local partners, giving it a strong local identity. Established via the signing of a ‘heads of agreement’ on August 30, the new Wollongong Exchange will allow local businesses access to listing opportunities offered through the NSX and its accompanying market services. Taking just under 12 months to establish, the Wollongong Exchange is already operational with one local law firm attaining advisor accreditation with the NSX. There is also significant other interest from local firms to join the advisor network, generating income and expertise locally to support localised stock market listings Local businesspeople attending today’s opening will be given further information on how they can list with the Wollongong Exchange and the benefits which are connected to their listing. Lord Mayor of the City of Wollongong, Councillor Alex Darling, who first floated the idea of establishing the Wollongong Exchange, said the official opening of the Wollongong Exchange represented a milestone achievement in the city’s economic progress. “There is no doubt Wollongong is moving forward on many fronts and the opening of this Exchange demonstrates this city is serious about creating opportunities for local investment and advancement,” Councillor Darling said. “The door has been opened for local business to grasp new capital opportunities and go beyond what might have seemed the maximum possible not so long ago. We look forward to seeing those businesses and the community as a whole reap the rewards.” President of the Illawarra Business Chamber, Mr Terry Wetherall, said the Wollongong Exchange would form an important step in securing the future of local businesses and the regional economy. “This exercise has been an investment in finding new ways to address some obstacles put in front of Illawarra businesses which may have, in the past, prevented growth and new job creation,” Mr Wetherall said. “The potential benefits to the local economy which will flow from the Exchange make the Illawarra Business Chamber a proud supporter of this initiative and we urge our members and other businesses in the region to find out more about the advantages.” Michael Cox, Chief Executive Officer of the NSX, said his organisation was pleased to welcome the Wollongong business community into the NSX structure and looked forward to a fruitful relationship. “Since re-establishment in 2000, the NSX has gone from strength to strength with its secondary exchange position enhanced through the purchase of the Bendigo Stock Exchange and now the opening of the Wollongong Exchange,” Mr Cox said. “Illawarra businesses which connect to us through the Wollongong sub-market will be making contact with services and facilities which have delivered results to businesses and their communities, something we seek for all of our listed members.” Further information on the new Wollongong Exchange is available by contacting the local adviser on 0416 369 662 or by visiting https://www.nsx.com.au/wollongong.