Rebel Sport Limited’s consolidated net profit for teh first fiscal half-year, which ended December 31, 2005, was $12.9 million, a $2.8 million or 28.5% increase on
the $10.1 million achieved for first half of 2005. This is equivalent to 16.66 cents per share for the six months ended 31 December 2005 compared to 13.04 cents per sharefor the six months ended 1 January 2005. This is a record first half result for the Group.

The above results are after the adoption of Australian equivalents to International Financial reporting Standards (“AIFRS”). Had the Group continued to report under AGAAP for the six months ended 31 December 2005, net profit
attributable to members would have been $13.7 million, compared with $10.5 million for the comparative period, an increase of 31.3%. Sales revenue for the six months ended 31 December 2005, when compared to the six months ended 1 January 2005 increased by 13.5% from $161.9 million to $183.9 million. Sales revenue on a same store basis increased by 7.1%.

During the current financial period, Rebel Sport opened six new stores, bringing the total number of Rebel Sport stores to 62. In addition, one new Glue store
was opened in Tuggerah (NSW), bringing the total number of Glue stores to 9. In the second
half of FY2006 the retailer may open up to two new Rebel Sport stores and will open one new Glue
store at Penrith (NSW), in conjunction with the relocation of the Penrith Rebel Sport store.

Sales for the consolidated group for the seven weeks ended 18 February 2006 have increased
by 11.2%. Sales on a sames store basis increased by 5.3% for the same period.

An interim fully franked dividend of 7.5 cents per share (2004: 5.0 cents) has been declared
by the Board. The dividend will be payable on 10 April 2006 to shareholders registered on
3 April 2006 and transfers will be received by the Company until 5.00pm on that date.