The results for the first half of 2009 reflect ongoing global economic uncertainty. This has led to significantly reduced levels of white-collar recruitment in the markets in which Ambition operates. However they also reflect the benefits of the ‘rightsizing’ that the Board and management have undertaken to ensure that Ambition is viable, focused on trading at no less than cash break-even and yet positioned for the pick-up in activity as and when this occurs. Highlights of the results for the six months ended 30th June 2009 are as follows:

• Revenue: $45.6m
• EBITDA: $251k
• Loss before tax: ($281k)

As at June 30th the Group’s net cash position was $1.8m and we have no term debt. The
recently completed rights issue was oversubscribed and has raised a further $2.2
million working capital before costs.

Operating costs for the Group were $32.8m in the first half of 2008, whereas we have
reduced these to $18.4m in the first half of 2009.

The Board is confident that Ambition’s business model is intact and that it is operating
in the right markets in Sydney, Melbourne, Brisbane, London, Hong Kong and Singapore.

During the period, the pace of decline in business confidence that was seen in the fourth
quarter of 2008 slowed noticeably and we saw more stable revenue and marginally
increased visibility.

In the UK, the first six months resulted in break-even at the EBITDA level and, although
we are always striving to produce bottom line profits out of all businesses, we feel that
this is quite satisfactory in an economy still working through significant problems. There
are some signs that sentiment in the City of London has changed although this is yet to
translate in to increased recruitment activity.

In Asia, conditions were marginally brighter and we were EBITDA and EBT profitable. We
are pleased with our market position in both Hong Kong and Singapore.

In Australia, recruitment levels are still declining and unemployment is increasing.
However, the pace of decline is not nearly as rapid as it was 6-9 months ago and there
is a general feeling amongst our clients that the Australian economy is robust enough to
avoid the catastrophic conditions experienced in the US and Europe.

At the end of June 2009, we had 208 people around the world. The Board is confident
that in the current environment this is the appropriate level of resourcing and that we
have the right people on board. We are spending much time on retaining the ‘hearts
and minds’ of our people so that they are clear as to the Group’s strategy and confident
that we will prosper when conditions improve.

More information: Nick Waterworth, Executive Chairman: +61 2 9249 5004

Ambition received valid applications for 9,665,524 shares pursuant to the Rights Issue and
1,658,316 shares pursuant to the Employee Issue. Oversubscriptions of 1,207,534 shares
were received for the Employee Issue, all of which will be allotted.
The resulting shortfall for the Rights Issue is 2,009,493 shares (Shortfall Shares). The
Shortfall Shares will be taken up by the subunderwriters to the Issue. The Issue, including
oversubscriptions and the Shortfall Shares, has raised a total of $2,181,130 before costs.
The Board of Ambition is grateful for the level of support shown by existing shareholders
and particularly heartened by the response to the Employee Issue.
The Company anticipates that the total of 14,540,867 shares to be issued pursuant to the
Issue, including oversubscriptions and the Shortfall Shares, will be allotted and holding
statements dispatched on 17 August 2009.
Enquiries: Nick Waterworth, Executive Chairman (02) 9249 5000

1. A non-renounceable pro rata offer (rights issue) to shareholders of two Shares for every nine Shares held atthe record date (17 July 2009) to raise approximately $1,750,000. Each Share will be offered at an issueprice of 15 cents. The offer will be made under a prospectus which is appended to this announcement andwhich will be sent to shareholders on 23 July 2009.
2. An offer of Shares to Ambition employees(excluding Directors) at 15 cents per Share to raise up to

$250,000 with provision for oversubscriptions of $200,000. Ambition employees will be able to pay for the
Shares for which they subscribe out of after tax salaries and commissions over the next 2 years.

The issue has been underwritten as to $2 million by Baron Partners Limited on the terms and conditions as set out in
the prospectus which was lodged with the Australian Securities and Investments Commission today. The closing
date for the issue is 10 August.
Enquiries: Nick Waterworth, Executive Chairman (02) 9249 5004