FY2008 Half Year Results and Outlook

Released: 19 Feb 2008

Australian consulting and IT services provider Oakton Limited [ASX:OKN] today announced a record half-year net profit after tax of $12.5 million for the half year ended December 2007 - a 36.3% increase on the corresponding half year period. Revenue increased by 101.3% to $94.65 million and EBITDA increased by 39.0% to $18.31 million during the half year period.

The Oakton Board declared a fully-franked interim dividend of 11.00 cents per share 10% higher than last year’s interim dividend of 10.00 cents per share and 7% higher than last year’s final dividend of 10.25 cents. The dividend will be paid on 30 April 2008 with a record date of 15 April 2008.

Neil Wilson, Oakton’s Managing Director and CEO, made comment on the result: “In the first half of FY2008, Oakton has delivered strong organic growth, while continuing to deliver as planned the integration of Acumen Alliance and the development of our offshore operation.”

“We are particularly pleased with the number of larger projects that have been secured in the first half and we continue to see increasing recognition of our brand and capability in this market. The current demand outlook remains solid and there are still a number of industry based drivers that would suggest that IT investment is still a key component to many clients’ strategic initiatives. The impact of the change of government and current market volatility is still to play out, however there has been no immediate impact.”

Neil Wilson took the opportunity to inform the market of the recent appointment of Steve Parker to the newly created role of Chief Operating Officer (COO).

“Oakton has recently appointed Steve Parker to the role of COO. Steve was previously the Managing Director of UNISYS in Australia and New Zealand, prior to that role Steve held a number of senior executive positions with HP in Australasia and the US. We are delighted to have someone of Steve’s ability and reputation join our company and to contribute to our ongoing expansion plans for the business. Following a transition of day to day operational management to the COO, the CEO role will continue to play a key role with the investment community and key clients / projects. The role will take on a more strategic focus to ensure that the strategy for the company continues to evolve and that the plans for expansion, inclusive of future acquisitions, are allocated the focus to continue to be well developed and executed.”

In conclusion Neil Wilson made the following comments:

“Oakton is on a clear path, with clear objectives, measures and the flexibility to adapt to any changing market conditions and Oakton has an outstanding team of people to deliver to this plan”

Oakton Chairman, Paul Holyoake, commented on the result saying “Oakton have delivered another excellent result for the half year and have continued to focus on building the platform for future growth. On behalf of the Oakton Board I would like to thank our clients, staff and shareholders for their effort and continuing support.”

Please find attached the analyst presentation that will be presented to the investment community over the following two weeks.

For more information, please contact:

Neil Wilson
Managing Director and CEO, Oakton Limited
Tel: +61 3 9617 0200

Michael Miers
CFO
Tel: +61 3 9617 0200

About Oakton Limited: Oakton Limited is an consulting and information technology company listed on the Australian Stock Exchange [ASX:OKN]. Capitalised at approximately $A380 million (February 2008), Oakton has provided services to large and medium sized organisations for more than 19 years. Oakton provides a range of consulting and IT services centred around business operations and systems. The services cover business consulting , IT strategy, planning services, delivery services in solution design, custom software development, packaged software implementation, information management and system integration solutions. Oakton also provides a service offering to fully manage organisations’ operational systems. The company has offices in Melbourne, Sydney, Canberra, Brisbane and Hyderabad (India).

For more information refer to www.oakton.com.au

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