Ironbridge

9th March, 2005

Affinity Health Limited ("Company") announced today that AH Holdings NV, the owner of the Company, has approved the appointment of Citigroup Global Markets Australia Pty Limited and UBS AG to review capital restructure options of the Affinity Health Group.

In making the announcement Affinity Health Managing Director, Robert Cooke, said that the performance of Affinity Health has been good and that the time was right to be examining the future structure for Affinity Health Group. This includes the possibility of listing Affinity Health Group shares on the Australian Stock Exchange through an Initial Public Offering ("IPO"). In the event that an IPO occurs, then the Company may undertake an early redemption of its listed debt securities ("Notes") (ASX code AFYHA).

"The price at which the redemption would occur is $106.00 per Note. Interest will continue to accrue up until the redemption date", Mr Cooke said.

"Current and potential holders of the Notes are advised that there is no guarantee that an early redemption will occur. Formal notice of an early redemption will be provided in accordance with the terms of the Notes issue.

"As set out in the Notes Prospectus, in the event of an IPO, Australian and New Zealand resident Holders will be entitled to exchange up to 50% of their Notes into equity in the IPO at a 5% discount to the price paid by retail investors", Mr Cooke said.

Mr Cooke said no decision has yet been made to list Company shares on the Australian Stock Exchange but Affinity Health will keep the market informed of future developments.

For further information:
Peter Mahon
Royce Communications
03 9639 2300