Ekourier Oct 2008

Property Development Pipeline Upgrades, Expansions and New Development

Hoxton Park The base building works on this new centre are now complete along with the fitout of the retail office and self storage areas. Opening took place on the 16th October 2008. Our neighbour is a new Bunnings store, it also opened at the same time as us.

Chatswood Demolition and the first and second floor concrete slabs are now complete. The storage fitout has started and we are on track to open Stage 1 during December.

K ennards Kat een to Stay Please join us in welcoming the newest member to THQ. Our cat Frankie (formerly know as Bella) decided to come and live with us late last year. We had planned to re-home Frankie, but once we caught him and took him to the vet for a check up we decided to keep him at THQ to keep the mice and pigeons away. He can be seen sunning himself in the garden or smooching round Daves legs looking for a feed. Next time you visit THQ be sure to keep an eye out for our new friend.

Chatswood front office area

Newcastle Work is complete with the team now moving into their new office

KSS Hoxton Park viewed from Lyn Parade

Ian Rigby, John Young and Bruce Newburn inside the new office at Newcastle

The Team at Hoxton Park L to R - Michael Macheledt, Sam Kennard, Darren Marshall, Steve Cliff and Neil Mason

-Lynda Walsh

-Michael Macheledt

Getting Bluer The 2008 culture survey has revealed a strong blue bias once again. The constructive styles have all remained, and even grown, past the 50% line. This is an outstanding outcome and suggests the initiatives and refinements that continue in KSS are fruitful. It’s Constructive... So What? Many people wonder why we put so much effort into our company culture measurement and development. Quite simply: we believe a constructive culture will have more engaged people who will enjoy work and have greater commitment.This will result in us having happier customers and a stronger business.

adapt to change and handle growth easier. In fact, they will be more inclined to initiate change, innovate and pursue business growth challenges. In recent history our Blue constructive culture has been a major contributor to successfully handling some big challenges, including: • The acquisition and integration of Millers in 2004-05 • A volatile industrial relations climate in 2005-06 • Interstate growth and development • Acquisition and integration of N.Z. sites in 2007-08 Our staff turnover is identified as a key challenge for KSS, and continued leadership development will be a focus in 2008-09 it is expected that leadership

skill development and reducing staff turnover will further improve the KSS culture.

KSS 2008 Circumplex

We expect constructive people in a constructive workplace will be able to

- Sam Kennard

7

Kennards Kourier October 2008