Ian William Donaldson AM
FCA, FICD, AAUQ
Independent Chairman

Mr Donaldson has been the Chairman of City Pacific since commencement of the business in 1997. Mr Donaldson is a Fellow of the Institute of Chartered Accountants in Australia and was State President of the Queensland branch in 1996. He is the immediate past Chairman of the firm Hall Chadwick (now known as William Buck) in Queensland (established 1888) and a past Chairman of the Leukaemia Foundation of Australia. He is an experienced director of public and private companies.

He has played a leading role in the advancement of the mortgage industry in Australia, with particular emphasis in promoting the mortgage securitisation industry in Queensland. Ian was appointed inaugural Chairman of the Mortgages (Secondary Market) Board by the Queensland Government in 1984, and held this position until June 1990.

Ian brings to City Pacific considerable experience as a director of public companies, and specialist knowledge in mortgage securitisation. He sits on City Pacific's Audit Committee.

Thomas William Swan
BBus, GradDipBusIP, MComLaw, DipFS(FP), FPNA, ACIS, MAICD
Independent Deputy Chairman

Mr Swan holds graduate and post-graduate qualifications in accounting, management, information systems and business law. He is a Fellow of the National Institute of Accountants and Associate of the Chartered Institute of Secretaries and Administrators. Mr Swan is the chairman of Swan & Baker Pty Ltd, which operates as a business advisory and public accounting practice originally commenced by him in 1977.

City Pacific is able to draw on Mr Swan's experience in these areas to direct the sound administration and management of the company. Mr Swan has been a Director of City Pacific since incorporation in 1997, and is chair of the company's Audit Committee.

Shane L. Stone AC PGDK QC
B.A (ANU)., LL.B (Melb)., Grad Dip Ed Admin (ACAE)., Dip Tchg (RCAE)., T.P.T.C., FACE., FAIM., FAICD
Independent Director

Mr Stone is a former Chief Minister of the Northern Territory and immediate past Federal President of the Liberal Party. Mr Stone is a Companion of the Order of Australia (AC), Australia's highest civilian honour. He is the executive chairman of APAC Group, which provides advice to companies operating in the Asia Pacific region and helped secure Australia's largest ever export sale through the $25 billion LNG project in Guangdong Province, China.

Mr Stone is also on the Board of Australian Healthcare Technologies Ltd and is a foundation member of the Advisory Board of PT Thiess Indonesia. He is on the Board of the Australian Children's Television Foundation, and is also Chairman of the Defence Reserves Support Council. Mr Stone brings to City Pacific extensive background in Government, a clear understanding of the role of a non executive independent director and an ability to deal with financial matters.

He has a strong legal background, being a former barrister and having served as Attorney General. An invaluable skill that Shane brings to the table for City Pacific is his ability to interpret and implement the complex provisions of the finance and banking sector legislation. He holds a seat on City Pacific's Audit Committee.

Philip Keith Sullivan
Managing Director and Chief Executive Officer

Mr Sullivan has been actively involved in property investment and development for over 30 years across many sectors of the property market. He currently holds directorships with a number of public and private Australian investment and development companies and has been the Managing Director of City Pacific since its incorporation.

Mr Sullivan has a detailed understanding of the elements necessary to properly assess risk and the processes required to manage large scale property based construction projects. He chairs the Company's Executive Credit Risk Committee.

City Pacific utilises Mr Sullivan's experience to enhance the company's understanding of trends in property markets, essential in mortgage lending and the related credit policy issues.

Steve McCormick
Executive Director / Group Executive — Property Development Finance

Mr McCormick joined the Board on 20 June 2008 as an Executive Director.

Mr McCormick is Group Executive for Property Development Finance at City Pacific, a position he has held since July 2006.

With almost 30 years experience in banking and finance and exposure to retail, commercial property finance and corporate banking, Mr McCormick progressed to a senior role as a Regional Property Finance Manager for Westpac in New Zealand.

A position as Regional Manager for a financial institution with a loan portfolio that included a mix of residential, commercial and property development lending, preceded his appointment to the Company in early 2005.

Steve manages strategic relationships and communication with institutions, lenders and borrowers with overall responsibility for the management of the loan portfolio and cash flow of the First Mortgage Fund.

Steve plays a crucial role in the successful management of the loan portfolio and the Directors consider him to be a valuable addition to the Board.

Mr McCormick sits on the City Pacific Executive Credit Risk Committee.

James Timothy Finucan
LLB, B. Bus (Acc.)
Company Secretary / Corporate Counsel

Mr Finucan joined City Pacific in February 2006, bringing a depth of experience in property development and corporate restructuring law. During his previous posting with prominent Queensland law firms, Mr Finucan gained great exposure in their Commercial divisions. He advised on matters concerning corporate structuring and development work, including prominent property transactions. Mr Finucan spent 2 years as a legal consultant in the United Kingdom, advising Public companies on commercial matters and consulting on Private Public Partnerships of property developments.

Mr Finucan advises the City Pacific Board on a range of legal matters, streamlining the relationship between City Pacific and external legal counsel. Mr Finucan is a Solicitor of the Supreme Court of Queensland and the High Court of Australia and a member of the Australian Corporate Lawyers Association.