PROGRAMMED MAINTENANCE SERVICES LIMITED ABN 61 054 742 264 www.pmsltd.com.au

52 RICKETTS ROAD MOUNT WAVERLEY VICTORIA 3149 PO BOX 331 MOUNT WAVERLEY VICTORIA 3149 TELEPHONE (03) 9562 8033 FACSIMILE (03) 9562 8006

ASX Announcement 18 October 2007 Company Announcements Office Australian Stock Exchange Limited Exchange Centre Level 4 20 Bridge Street SYDNEY NSW 2000 Dear Sir,

ANALYST PRESENTATION Please find attached a copy of the presentation to be given later this morning by Mr. Max Findlay, Managing Director of Programmed Maintenance Services Limited to a group of fund managers and investment analysts at the UBS Emerging Companies Conference in Sydney. Yours sincerely, PROGRAMMED MAINTENANCE SERVICES LIMITED

Ian H. Jones Secretary F

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UBS Emerging Companies Conference18 October 2007

Max Findlay, Managing Director

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Agenda

• Business overview• Major customers• Strategic Direction• Financial Highlights – Year Ended 31/3/2007• Recent ASX Announcements

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• The PMS business was founded in 1951• Floated on the ASX on 1 October 1999• Currently maintain over 60,000 buildings & structures for over

5,000 customers throughout Australia, NZ & the UK• Branch office network in Australia (over 50), NZ (15) & UK(9)• Over 150 apprentices

Business Overview

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Painting Services•Over 5,000 long term maintenance painting

programmes in AUST, NZ and UK•Specialised internal and external painting•National painting and re-identification

programs

Business Overview (continued)

• Maintenance programmes terms range up to 12 years

• Year 1 – initial refurbishment• Year 2 onwards – regular ongoing

maintenance• Funds are invested to provide for

future revenue streams• Provides for forward work scheduling• Customers retain a financial

guarantee

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6

%of Work Performed% Value of Payments

Foundation Business Model

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Business Overview (continued)Grounds Services• National grounds management contracts,

including Telstra, Safeway Petrol Plus, Coles Express & Defence

• Sports turf management, including Hawthorn and Richmond Football Clubs

• Landscaping works focusing on water conservation and sustainable open spaces

• Grounds maintenance for schools, hospitals, aged care and commercial facilities

Building Services• National facility maintenance contracts

for Myer• Aged care refurbishment works• National R & M and facility management,

eg Medibank Private, AEC and Hoyts

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Business Overview (continued)Barry Bros.• High pressure water jetting• Vacuuming• Non destructive digging• CCTV surveys, and water recycling• Plant shut down works

Tungsten• FM & PPP consulting services• Facilities management• Operational site management• Infrastructure and assurance

management

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Business Overview

Merged with Integrated Group on 7 June 2007

Three Businesses

Workforce – recruitment and labour hire services in Australia to the industrial, manufacturing and resources markets

Marine – vessel management, manning and catering services in Australia and New Zealand

Maintenance – managed labour, supervision and technical maintenance services in AustraliaF

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WORKFORCE

ASSETMANAGEMENT

PROPERTYMAINTENANCE

Facilities & InfrastructureManagement,

Industrial Services

Painting, Corporate Imaging, Grounds & Building Services

Temporary & Permanent Recruitment, Managed Labour, Marine Services

OUR BRANDS OUR SERVICES

Post Merger Business Overview

“Provider of workforce, property maintenance and asset management services”

Our strategic business model has been redefined and represented in a pyramid shape to capture our brands, capabilities and services.

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Aust. Painting13%

New Zealand5%

Building Services5%

Industrial Services4%

Grounds4%

United Kingdom3%

Tungsten7%

Workforce41%

Marine16%

Maintenance2%

Revenue by Business

Aust. Painting33%

New Zealand12%

Building Services

12%

Industrial Services

8%

Grounds10%

United Kingdom

9%

Tungsten16%

Aust. Painting67%

New Zealand15%

Building Services

1%

Industrial Services

13%Grounds

4%

1988Revenue $46m

1999Revenue $85m

Aust. Painting100%

2007Revenue $333m

Pro-forma* Revenue $801m

* Pro-forma revenue per Scheme Booklet

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Major Customers

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STRATEGIC DIRECTION

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Core Business Strategy

Grow Organically and through Acquisition

Expand our range of services to existing geographicalmarkets by acquiring new businesses and expanding existing service lines

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Esperance

Ipswich

Integrated GroupIncluding:-Perth - 9 officesMelbourne – 8 officesSydney – 6 officesBrisbane – 5 offices

PMS GroundsPMS Building Services

PMS Painting Services

Tungsten Group

PMS Industrial Services (Barry Bros)

Geographic Expansion (post merger)

ParaburdooPort Hedland

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Geographic Expansion (post merger)

London

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Strategic progression

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Market View from Floatcash flow concernslow payout ratio (32% in 2000)low franking (nil in 2002)P/E ratio of 10x

Strategic Development

Corporate Strategy Market Strategy

Unique Product

Customer Base• long term• geographic spread• broad range of industry

sectors

(PaintingProgrammes)

MultipleOutsourced

Services

Key Asset

expandedrange ofservices

Key Actions* grow “do and charge” services

(organically and by acquisition)* improve operating cash flows* increase dividend payout leverage

Increased Shareholder Valuegrowth in share pricegrowth in P/E ratio to > 17xincreased dividend payout (60% in 2007)dividends are 100% franked

• trade-based maintenance services

- painting- grounds- building services- industrial services

• management solutions• labour outsourcing

- Integrated merger

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Benefits of Strategic Development

• Accelerating growth of group operations with service diversification

• Increased marketing opportunities- to cross sell range of property services- facilitates property services from a single supplier- opportunity to expand our client base

• Reduction in business risk• Improved opportunities for staff• Improved financial measures

- better operating cash flows- higher dividend franking capability

INCREASED SHAREHOLDER VALUE

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Outsourced Services Supply Chain

Labour Supply Maintenance Services

Management Solutions Partnerships

• Providing a workforce

• Spot buys

• Individual labour hire at customers request

• Time & materials

• Scope of skills (trade, engineering, project management)

• Single or multiple services

• One-off events as well as programmes

• Local and national

• Low tech & high tech

• Managed outsourced solutions

• Long-term and integrated

• Multi-services

• Alliance model

• Public Private Partnerships (PPP)

• Corporate Real Estate (CRE)

• Complex and large solutions

• Large national customers

• Possible funding stake• Very long term (>15

years)

$0 – 50k $20k – $1M $0.5M – $10M > $20 MTransaction

Value :

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Strategic Rationale – Integrated merger

Full service offering with an opportunity to add greater customer value

- ability to leverage existing customer relationships of PMS and Integrated to provide PMS services to Integrated customers and vice versa

- resources dedicated to co-ordinating cross-selling activities

Greater labour flexibility- ability for PMS to meet customer demands more quickly and flexibly through its ready

access to Integrated’s large workforce pool

Larger geographic footprint- faster penetration of Integrated’s workforce business into new geographic markets and

industry sectors using PMS infrastructure- opportunities in regional Australia and New Zealand to work from PMS offices

The merger with Integrated Group will deliver a range of strategic and financial benefits for the PMS Group

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Strategic Rationale – Integrated mergerBroader industry coverage leading to a more diversified earningsbase

- further development of PMS services to Integrated’s customers in the oil and gas industries

Operational improvements- increased scale and capacity of internal support functions enables improvements in the quality of service, lower unit costs and greater investment in technology

- operating cost savings from the elimination of duplicated functions- greater opportunities for employees, leading to improved retention and attraction of high quality candidates

Superior financial scale- enhanced financial strength to pursue growth and seek further acquisitions- larger listed company with increased investor interest and liquidity in shares

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FINANCIALHIGHLIGHTS

Year Ended 31/3/2007(Pre Merger)For

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Consistent Growth

NPBT

NPAT

Revenue

Profits - left hand axis in A$mRevenues - right hand axis in A$m

-

5

10

15

20

25

30

35

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Prof

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$m

-

50

100

150

200

250

300

350

Rev

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A$m

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EBIT Margins

0

5

10

15

20

25

30

35

40

45

2000 2001 2002 2003 2004 2005 2006 2007

EBIT

A$m

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

EBIT

/Rev

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%

EBIT EBIT/Revenue

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Dividends

02468

101214161820

2002 2003 2004 2005 2006 2007

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Recent ASX Announcements• From Chairman’s Address to AGM 5 August 2007

• Because of the cold and wet winter, both the Australian and New Zealand painting businesses have had a slow start to the new financial year.

• The trading results of the Integrated businesses of Workforce and Marine have met expectations for the month of June 2007, since forming part of the PMS Group.

• Consistent with previous years, the directors expect to give guidance for the year ending 31 March 2008 upon the release in late November of the results for the half year ending 30 September 2007.

• We are confident that the cost synergies of $2.5 - $3.0 million in the second year of the merger will be achieved

• Max Findlay, who has been the Managing Director for the last 18 years, has indicated his intention to retire in 2008. To ensure a smooth transition, the Board has implemented its succession plan and appointed an executive search firm to evaluate some outstanding internal candidates against the external market.

• From Announcement 1 October 2007

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Questions?

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