CIC RESPONDS TO GOOGONG GROUNDWATER ISSUE

Today's Canberra Times report relating to groundwater at Googong highlights an important area for CIC Australia and one that we and our team of technical experts has been working on for more than six years.

With any new development, and particularly one the size and scale of Googong, years of research and a range of rigorous technical studies are undertaken before the first sod is even turned. The aim of these studies is to assess possible impacts, including those related to heritage, environment, biodiversity, ecology, threatened species, Indigenous Australians, and climate change.

Water is a major issue, and is obviously at the forefront of our studies to determine the feasibility and viability of Googong as a township. High-level government and community scrutiny demands that we take the issue seriously, as do our board members and shareholders.

As progress towards the township continues, our work on water is also progressing. It is being undertaken in close consultation with the appropriate federal, state and local government and regulatory authorities, and to the letter of the law. And as with all projects being undertaken by CIC, our work is also focusing on innovation-new ways of thinking and new approaches to doing.

We'll keep you posted with more information on water at Googong, and provide more detail about how we are managing the groundwater. In the meantime, our team will continue working with groundwater specialists and the NSW Office of Water to ensure our development proposals meet the government's strict environmental guidelines, as well as our ethical standards and commitment to environmental and social sustainability.