22 July 2008: South Australian ASX listed companies significantly outperformed against the S&P/ASX 200 benchmark for the three months to 30 June 2008, according to the latest Deloitte SA Index released today.

Deloitte Corporate Finance partner, David Hill, said the Deloitte SA Index increased by 29.2% during the three month period to 30 June 2008, compared to the S&P/ASX 200, which decreased by 2.6%.

“Led by the significant growth in Santos Limited’s share price, the energy industry achieved the largest positive organic growth during the three months to 30 June 2008, rising by 45.3% on a total market capitalisation basis. This gave the Deloitte SA Index a massive boost,” Mr Hill said.

The Deloitte SA Index increased by 13.3% during the six month period to 30 June 2008, compared to the S&P/ASX 200, which decreased by 17.7%.   It also increased by 0.9% over the twelve month period to 30 June 2008, compared to the S&P/ASX 200, which decreased by 16.9%.

The Deloitte SA EIR (Energy, Infrastructure, Resources) Index increased by 42.9% during the three month period to 30 June 2008, compared to the respective S&P/ASX Indices, which increased by an overall 14.1%.

Deloitte EIR partner, Jason Handel, said that overall, there was a significant appreciation in the South Australian market due to an improvement in Santos Limited’s share price.

“Rising oil prices have provided the impetus in driving the company’s share price to all time highs along with continued speculation regarding Santos Limited’s future as a potential acquisition target,” Mr Handel said.

“The improvement in the Deloitte SA EIR Index was further consolidated due to strong performances by Flinders Mines Limited, Ferraus Limited and Sapex Limited.  The movement in the index has been very much a reflection of what has been the flavour of the 3-month period – oil and iron ore.”

The Deloitte SA EIR Index increased by 18.9% during the six month period to 30 June 2008, compared to the respective S&P/ASX Indices which increased by an overall 3.5%.  Over the twelve month period to 30 June 2008, the Deloitte SA EIR Index decreased by 4.1%, compared to the respective S&P/ASX Indices which increased by an overall 8.3%.

The SA Index, compiled by Deloitte, is based upon publicly available information provided by the ASX and utilises the market capitalisation weighted share price performance of each South Australian listed company.  The impact of dividends and capital returns is excluded from the Index.

Jason Handel
Partner
Assurance and Advisory
Tel: +61 (0) 8 8407 7148
Mobile: 0416 239 692

David Hill
Partner
Corporate Finance
Tel: +61 (0) 8 8407 7181
Mobile: 0414 905 387