GUD Holdings Limited

A.B.N. 99 004 400 891

29 Taras Avenue, Altona North, Vie 3025

Australia.

PO Box 62

Sunshine, Vie 3020

Australia.

Telephone: +61 3 9243 3311

Facsimile: +61 3 9243 3300

Email : gudhold@gud.com.au

Interne t: www.gud.com.au

2 January, 2013
Manager, Company Announcements
ASX Limited
Level 4, 20 Bridge Street
Sydney NSW 2000
Dear Sir

Managing Director

The Managing Director of GUD Holdings Limited (GUD) Mr lan Campbell, whose current employment contract expires on 1 July 2013, has informed the Board of Directors that he does not wish to extend the contract beyond that date and will leave the Company at that time.
The GUD Board has reluctantly accepted Mr Campbell's decision and acknowledges his excellent contribution as Managing Director aver the past 14 years. The Board is in the process of appointing an executive search organization to facilitate the external element of the search for a replacement.
Yours sincerely

IL Ross M Herron Chairman

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