Australian Pipeline Ltd ACN 091 344 704 v Alinta Ltd ACN 087 857 001 [2007] FCA 1046

FEDERAL COURT OF AUSTRALIA

Australian Pipeline Ltd ACN 091 344 704 v Alinta Ltd ACN 087 857 001 [2007] FCA 1046 AUSTRALIAN PIPELINE LTD ACN 091 344 704 v ALINTA LTD ACN 087 857 001, & ORS NSD1710 OF 2006 ALINTA LGA LTD ACN 052 167 405 v AUSTRALIAN PIPELINE LTD ACN 091 344 704 NSD2265 OF 2006

EMMETT J

28 JUNE 2007

SYDNEY IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD1710 OF 2006

BETWEEN: AUSTRALIAN PIPELINE LTD ACN 091 344 704

Plaintiff

AND: ALINTA LTD ACN 087 857 001

First Defendant

TREWAS PTY LTD ACN 120 1111 006

Second Defendant

AUSTRALIAN SECURITIES & INVESTMENTS COMMISSION (NSW)

Third Defendant

JUDGE: EMMETT J DATE OF ORDER: 28 JUNE 2007

WHERE MADE: SYDNEY

THE COURT ORDERS THAT:

1. The first, second, fourth and fifth defendants be released from the undertakings given to the Court on 28 June 2007 as set out in order 2 made by the Court on that date, as from the time of this Order. 2. On or before 14 December 2007, the second defendant (Trewas) and fourth defendant (Alinta) are to cause: (a) the 42,197,224 units in Australian Pipeline Trust (ARSN 091 678 778) (APT) of which the second defendant is the registered holder as at the date of this order (Trewas Units); and (b) the 42,197,224 units in APT Investment Trust (ARSN 115 585 441) (APTIT) that are stapled to the Trewas Units to be either: (i) distributed on a pro rata basis (allowing for rounding) to shareholders of Alinta, except in the case of foreign shareholders or shareholders who would otherwise receive an unmarketable parcel (as defined in the Market Rules of ASX Limited) or who hold less than 1,000 shares in Alinta, in which case Alinta may vest the units to which those shareholders would be entitled in a nominee for sale and distribution of the net proceeds of sale to the relevant Alinta shareholders; or (ii) sold or disposed of to purchasers, by way of bookbuild managed by an investment bank or licensed stock broker (which holds an Australian Financial Services licence that entitles them to conduct the bookbuild) appointed by Alinta, in such a way that that no person and their associates (as defined in section 12 of the Corporations Act 2001) is permitted to receive pursuant to the bookbuild more than 5% of the units in APT (and units in APTIT stapled to the units in APT) then on issue and that the first, second, fourth and fifth defendants and their associates (as defined in section 12 of the Corporations Act) not receive any units as a result of the bookbuild. 3. The proceeding be otherwise dismissed. 4. There be no order as to costs. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules. IN THE FEDERAL COURT OF AUSTRALIA