Media release - 27^th July, 2012

Doug McCluskey appointed new board member for Raine & Horne

Leading real estate group Raine & Horne has appointed former PricewaterhouseCoopers (PwC) partner Doug McCluskey to its board effective 1 August 2012.

After 33 years with PwC, Mr McCluskey joins the board of Raine & Horne Holdings, the parent of Raine & Horne Pty Limited, which has a large network of offices in Australia and overseas.

“Doug has enjoyed a successful career with PwC, and was responsible for reshaping the professional services firm’s Private Client Services practice, which includes 45 partners and 700 staff,” says Angus Raine, CEO Raine & Horne.

“In his role as National Managing Partner, Private Client Services, Doug was able to achieve almost 50% business growth between June 2008 and June 2011.”

In addition, Mr McCluskey also reshaped and built PwC’s national government and healthcare practices, doubling turnover between July 2005 and June 2008.

According to Mr Raine, Mr McCluskey will be an excellent fit for the Raine & Horne board given his experience as a member of numerous finance and audit committees for a number of clients throughout his career.

“Over the years, Doug has also worked with many clients who have franchising businesses, covering a wide range of industries including coffee, food, retail and real estate, and he will prove a major asset in helping the board steer Raine & Horne’s strategic direction,” says Mr Raine.

“He has also assisted many businesses with the development of reporting frameworks and Key Performance Indicators (KPIs), while also acting as CFO for a number of clients.

“During his time as a consulting partner with PwC, Doug provided private and public companies with advice on corporate governance, risk management and board process.”

Also a former executive director of PricewaterhouseCoopers Securities Pty Ltd, Mr McCluskey has significant commercial experience internationally, having lived and/or worked in the UK, Europe, Asia and the US.

Mr McCluskey is a Fellow of the Institute of Chartered Accountants in Australia, a Chartered Tax Advisor, a Fellow of the Australian Institute of Management and a Member of the Australian Institute of Company Directors.

His academic qualifications include a Bachelor of Commerce degree from University of Queensland, while he has also completed the Managing Professional Services Firms course at Harvard Business School.

In July 2011, Mr McCluskey was appointed by the Health Minister to the Board of the Central Coast Local Health District and subsequently, to the Northern Sydney Local Health District Board.

-ENDS-

For further media information contact:

Angus Raine, CEO Raine & Horne on 0409 920 697

Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400

PricewaterhouseCoopers stalwart joins Raine & Horne board