Media Release 2 April 2012

KPMG ADVISING KONDOOT ON $10M CAPITAL RAISING

Kondoot Holdings Limited is pleased to announce that it has engaged KPMG Corporate Finance as its corporate advisor as part of its current prospectus capital raising. This follows the lodgement of Kondoots Prospectus with the Australian Securities and Investments Commission (ASIC) for a raising of up to $10,000,000. KPMG Corporate Finance is proposing to work with an exclusive panel of Australian and overseas brokers who will be promoting the available shares in Kondoot to their clients. KPMG Corporate Finance will also be engaging with financial sponsors as well as strategic investors such as Australian and international listed media and technology companies who may be interested in taking a cornerstone stake in the company. The current offer is open to large investors as well as individual investors interested in participating. Kondoot welcomes approaches from strategic investors, financial sponsors and brokers regarding potential involvement in the Kondoot capital raising. There are 83,333,334 new Kondoot shares offered under the Prospectus at $0.12 each and all applications for shares under the Prospectus must be for a minimum of 16,667 shares ($2,000). The capital raising is still ongoing, with a significant amount of interest received to date. Founded by 21 year old Mark Cracknell and 25 year old Nathan Hoad, Kondoot is the result of 18 months development. The social network platform developed by Kondoot enables celebrities, musicians and businesses as well as general users to publish live and recorded broadcasts as well as video chat and instant messaging. For those looking to monetise social networks, Kondoot also offers the possibility of charging for access to a video stream, allowing record companies the possibility of selling tickets to a gig or public speakers to sell tickets to their presentations online. In commenting on the engagement of KPMG Corporate Finance, Mark Cracknell, Co-Founder and Executive Director, said: We are extremely pleased to be working with a global firm like KPMG as our corporate advisor. We believe that Kondoot has the potential to completely revolutionise the way people communicate, broadcast and interact with each other and KPMG, as a leader in their industry, will help us identify and share the many opportunities our company has to offer potential investors.

Kondoot Holdings Limited ACN 150 272 503 has issued a prospectus in relation to the offer of ordinary shares. You can request a copy of the prospectus by email at invest@kondoot.com or by downloading/viewing it at www.kondoot.com/p/prospectus. Offers of shares are made in the prospectus and if you wish to acquire shares you need to complete the application form included in or accompanying the prospectus. You should read the prospectus before deciding whether to apply for or acquire shares. The information in this press release is general financial product advice only. Kondoot Holdings Limited has not considered the objectives, financial situation or needs of any person. For that reason you should consider the appropriateness of this information before deciding to apply for or acquire shares. KPMG Corporate Finance has been engaged by Kondoot Holdings Limited to advise them on the current capital raising. KPMG Corporate Finance, as adviser to Kondoot Holdings Limited, is unable to provide advice to investors regarding the capital raising. Any comment or information provided by KPMG Corporate Finance to investors should not be construed as advice. KPMG Corporate Finance encourages investors to seek their own independent advice before they make any application for shares in Kondoot.

ABOUT KONDOOT: Kondoot Holdings Limited was founded by 21 year old Mark Cracknell and 25 year old Nathan Hoad. Kondoot is a live video social network that offers users the ability to connect with their friends, family and followers and broadcast themselves to a global audience, at no charge. It combines the usual features of a social network with live video streaming, so that users have the intimacy of live video communication, but the option to broadcast their message to the public at large. The Kondoot team continues to build new features to entertain existing dedicated users and attract new users. Gaming is one of the features that was launched and is now enjoyed by Kondoots users. The use of kondoot.com broadcasting platform via smart phones is another recent landmark release. For more information please visit: www.kondoot.com ABOUT KPMG: KPMG is one of the worlds leading professional services networks with over 140,000 people in member firms in more than 153 countries. In Australia, KPMG has more than 5,000 people, including over 380 partners, operating out of 13 offices around the country. The companys position is built on the professionalism of its people, the quality of the audit, tax, and advisory services it offers and the contribution it makes to the wellbeing of the local communities. For further information regarding Kondoot please contact: Rod North, Managing Director Bourse Communications Pty Ltd T: (03) 9510 8309, M: 0408 670 706 E: rod@boursecommunications.com.au For interest regarding participation in Kondoots capital raising please contact: Luke Lawrentschuk/Nicholas Smedley KPMG Corporate Finance T: (03) 9288 5000

Kondoot Holdings Limited ACN 150 272 503 has issued a prospectus in relation to the offer of ordinary shares. You can request a copy of the prospectus by email at invest@kondoot.com or by downloading/viewing it at www.kondoot.com/p/prospectus. Offers of shares are made in the prospectus and if you wish to acquire shares you need to complete the application form included in or accompanying the prospectus. You should read the prospectus before deciding whether to apply for or acquire shares. The information in this press release is general financial product advice only. Kondoot Holdings Limited has not considered the objectives, financial situation or needs of any person. For that reason you should consider the appropriateness of this information before deciding to apply for or acquire shares. KPMG Corporate Finance has been engaged by Kondoot Holdings Limited to advise them on the current capital raising. KPMG Corporate Finance, as adviser to Kondoot Holdings Limited, is unable to provide advice to investors regarding the capital raising. Any comment or information provided by KPMG Corporate Finance to investors should not be construed as advice. KPMG Corporate Finance encourages investors to seek their own independent advice before they make any application for shares in Kondoot.