Company

News 2011

Western Australian property developer Port Bouvard Limited (Company) (ASX: PBD) is pleased to advise that it has today appointed Mr Mark Jewell, executive director of FKP Property Group (FKP), as a non-executive director of the Company. FKP hold 29.47% of the Company's shares.

Additionally, Mr Geoff Grady, Chief Operating Officer of FKP, has today resigned as a non-executive director of the Company. Mr Grady was appointed as a non-executive director of the Company on 23 July 2010. Mr Grady will continue in a new role as alternate director for Mr Jewell.

Mr Jewell is a senior property executive with over 20 years' experience in the Australian development industry. He spent a number of years as an executive director of the Sunland Group and more recently has filled the role of Chief Operating Officer of Sunland Group, Australian operations.

Acting Chairman, Mr Stephen Court, welcomed Mr Jewell to the Board and said that with his experience in the property industry, he will make a valuable contribution to the group. Mr Court also thanked Mr Grady for his contribution as a member of the Board during the past twelve months.

<<END>>

Stephen Court
Executive Director
Port Bouvard Limited
T: +61 (0)8 6436 2200

John Wroth
Chief Executive Officer
Port Bouvard Limited
T: + 61 (0)8 6436 2200

David Tasker / Felicity Nuttall
Professional Public Relations
T: +61 (0)8 9388 0944
M: +61 (0)433 112 936
E: david.tasker@ppr.com.au