CEO’s column Page 2

Putting real meaning intoThe term pioneering Page 3

New Travel Tower Page 4

Brave men stout hearts Page 5

Share price keeps rising Page 6

Boom placed in ASX Top 200 Page 6

Lifting and access solutions - market points to Boom and Sherrin Hire... as preferred supplier.

Users of crane hire services and accessequipment hire services have beenshowing an increasing trend towards

using the combined services of BoomLogistics and Sherrin Hire.

Filings with the Australian Stock Exchangeshow that Boom Logistics, together with itssubsidiary company Sherrin Hire, hasreported a huge increase in revenue.

Figures quoted in Boom’s latest six monthfinancial report which include the subsidiarySherrin Hire, report the large increasein turnover.

For the six months to the 31st December 05,the accumulated revenue was $121.9 mrepresenting an increase of 105% on theprevious corresponding six months.

“The successful aquisition of Sherrin Hire byBoom Logistics in August 05, and subsequentorganic growth rate of 14% for the combinedbusiness, signals customer willingness to useBoom and Sherrin Hire, more so than before,”said Rod Harmon, Managing Director ofBoom Logistics.

The important thing for customers and theirpreferences for Boom and Sherrin Hire as

Continued on page 3

▲

Innovative design withlatest Travel Towers.

What’s Inside

1

The two recently acquired Travel Tower units witha maximum safe reach height of 55 m, a maximum

working load of 700 kg.and an 8 x 8 Rough Terrain truck.

The Sherrin Hire division of Boomrecently acquired two of the latest and most innovative designs in high reachTravel Towers.

Maximum lift height is an incredible55 m and the reach can extend as farout as 29 m. Maximum lift capacity is700 kg. and the hydraulic winch, which is mounted in the basket is capable oflifting 300 kg. This is an additionalfeature that is not available in other 55 mTravel Towers.

These new units will typically service high voltage power transmission lines. Thisoften involves travelling over difficultsurfaces and so the truck has an 8 x 8Rough Terrain configuration and is fitted withone of the most advanced computerisedmanagement systems.

Gross Vehicle Weight is 32 tonnes.

Two of Boom’s cranes at work at a distant mine sitein W.A. - 180 tonne and 200 tonne Grove cranes.

With Boom’s and Sherrin Hire’s network of depotsacross Australia, distant sites are not a problem.

CEO’sColumnby Rod Harmon

For our customers, of both Boom andSherrin Hire, it continues to be goodnews since last reporting to readers

via this column.

Importantly, our fleet has been significantlyexpanded, ensuring that we can have cranesand access equipment out on the job whenand where our customers require.

Our operations supporting mining at oneof the word’s largest coal deposits in theBowen Basin, have been significantlyexpanded - in terms of equipment and skilledpeople - following the recent acquisition ofCamilleri Industries Australia based inMackay, Queensland. I would like to warmlywelcome, to Boom, the team at CIA.

Further additions have been to our TravelTower fleet at Sherrin Hire. This is partof ensuring we continue to maintain aposition of preferred supplier in this sector,as well as continuing to provide innovativeand state-of-the-art services to ourcustomers. Servicing of high voltage powertransmissions lines represents a majorpart of the work and hence reliability aroundthe clock, 7 days a week is critical. Boom iswell placed to maintain a high level ofreliable support.

Our crane fleet now exceeds 490 units.By far the biggest fleet in Australia!enabling us to live up to our statementof Providers of Lifting Solutions to Australia.

Our Sherrin Hire division has continuedto enhance its standards of excellencewith its fleet of access equipment andcomplimentary equipment.

Our ability to now provide a completetailored lifting solution on a national andlocal basis, supported by our depth ofengineering skills and high safety standards,provides our customers with a high degreeof flexibility and assurance of outcome.

Our staff, at both Boom and Sherrin Hiredepots, 52 in all, across all states of Australia,are achieving higher levels of efficiency forour customers.

The issue of developing people - especiallybringing on younger people is veryimportant to us. Training facilities continueto be developed for a wide range of staff.We are eager to develop operator skillsin the future, we are also committed toapprentice schemes.

Staff training and apprenticeships. One of the great things about the Boomworkforce is the relatively extensiveexperience in its ranks.

Boom is, however, quick to recognise theneed to continue to supplement such ateam with young up and coming people

thereby continuing its strength. Hence the importance Boom places on implementing anApprenticeship Scheme.

Young apprentices can see a strong futurein the industry ... and a company that can offerso many different employment opportunities.

2

Degree of difficulty... 8.5 out of 10.

A major engineering milestone was recentlyundertaken in Perth which involved theconstruction of two tunnels under William St.,in the CBD, for the Southern Railway Project.

A key part of the work was lifting the hugeTunnel Boring Machine into place for theLeighton Kumagai Joint Venture. We usedtwo big cranes, a 400 tonne Liebherr and a300 tonne Demag for the job of lowering themassive 14 m. deep launch box at theEsplanade site.

“We had to top and tail the main part of the136 tonne Tunnel Boring Machine to lowerit 18m below ground. This was a major task,”said Ray Bullard of Boom’s Welshpool depot.

“It was probably the sort of job that no oneelse in Perth could have done at the time. Thekey part of the success was the huge amountof detailed planning in advance.

“The contractor chose mobile hydrauliccranes in order to minimise set up time to justtwo hours, despite the congestion and liftdifficulties. If a crawler had been used, itwould have taken two days to set up,”explained Ray.

The big message for observers of the projectis that for a very difficult lift where the skillsof experts are required, Boom Logistics hasthe heavy lift supervisors, the ideal operatorsand the right equipment to complete the lifton time.

The two Boom cranes at the Perth site ...the task was to top and tail the huge 136 tonne Tunnel Boring Machine.Photo courtesy Leighton Kumagai Joint Venture.

The financial markets continue to give ourperformance a strong endorsement.

This is especially gratifying for our employeesand suppliers, many of whom hold shares inBoom Logistics.

The steadily growing share price is not theonly indicator of success... it is also what astuteanalysts are saying about our management

ability, the skill of our workforce, ourdirection for the future and the industrysectors in which we operate.

A few brief figures on Boom Logistics today.

Staff; now over 1,300 people, Depots; 52across Australia. Cranes across Australia; 490and over 2,000 pieces of other equipment

The recent capital raising has refulled thetanks for future acquisitions and organicgrowth. Importantly, for our customers, itcreates the ability for Boom to continue toincrease our provision of services with ourfleet of cranes and equipment.

“We want to continue to meet the new andadditional needs of our customers, maintainhigh standards with cranes and to maximise thecapability of our staff,” explained ManagingDirector, Mr. Rod Harmon. Putting real meaning into

the term ‘partnering’.

One of the buzz words in industrythat has been used in recentyears has been the term ‘partnering’

... but it is not all that often that it is appliedin the fullest and most co-operative way.

The relationship between Belle Bane, aVictorian based engineering companyspecialising in conveyor maintenance, andBoom’s crane hire depots in Victoria(Braeside in Melbourne and Morwell in theLatrobe Valley) has emerged as one ofthe best examples of a supplier - customerpartnering agreement.

“It has arisen out of many years of workingtogether and adopting a position of trust byboth companies,” said Brenton Salleh, GeneralManager for Boom Logistics in Victoria.

“And, we would agree that is the basis of ourworking together,” said Ian Daye, a director ofBelle Banne.

One of the good things that has emergedout of the partnering deal for both partiesis the method of charging, by Boom, for cranehire services.

“It is a give and take arrangement,”said Brenton.

“We look at Belle Bane’s maintenance workover a two year period and estimate whatis needed from Boom, we then estimate apool of hours and structure a lump sumcharge accordingly.

“A more-or-less fixed price is a greathelp to Belle Banne for their tenderingin a very competitive market. Our longstanding involvement with Belle Banne, on anexclusive supplier basis, has helpedus fully understand their business and be areal partner with them.

“We track usage of our cranes during theyear and if there is a major under use

we rebate money back to Belle Banne.Equally, if there is extra to the contractrate of usage, there is an adjustmentfor extra agreed charges. We have workedtogether for several years in this way,”added Brenton.

As Ian explained, his company has foundthis approach of establishing a pool of hours,has been a good way of avoiding problemswith costs.

The partnering concept also extends to ensuringthat Boom has cranes available at all times.

Belle Banne has a major commitment inthe coal mining area of the Latrobe Valleyin Victoria ... in particular the maintenancework on the conveyor belt system for movingcoal, from the coal face to fire the generators.

There are around 70-80 million tonnes ofcoal that has to be moved annually on50 km of conveyor system in one of theLatrobe Valley contracts. With coal supplyreliability being critical for the electricitygenerators it is absolutely critical thatmaintenance is kept up to date and theconveyors keep working.

Boom, as part of the partnering arrangementwith Belle Banne, positions itself to give total24/7 support.

Another raising of

capital ... $70 m.

3

To further improve our ability to meet theneeds of the huge coal mining region inCentral Queensland - one of the world’s largestcoal deposits and mining operations - Boomhas added another 48 cranes to its fleet basedin the Bowen Basin.

This increase in fleet numbers followedBoom’s acquisition of Camilleri IndustriesAustralia, based Mackay.

Boom’s expanded fleet, experienced executiveteam, high standards in staff training, excellentsite supervisors and very skilled craneoperators, provide mining companies and theircontractors with an exceptionally highstandard of support and service.

Boom expandscrane fleet inCentral Qld.

a preferred supplier, is the ability to providea one-stop-shop for lifting and accessequipment, supported by skilled experts andhighly experienced staff.

Whatever our customers might need inlifting equipment, mobile cranes and accessequipment such as Elevating Work Platforms,Boom Lifts, Travel Towers and complimentarysupport equipment, Boom and Sherrin Hireare delivering these services effectively and efficiently.

Lifting and accesssolutions- market points to Boom

and Sherrin HireContinued from page 1

A more or less fixed price from Boom is a great help to Belle Banne for their tendering, says

Brenton Salleh of Boom Logistics, pictured above.

Living proof of the true meaning of partnering ... the working relationship between Belle Banne and Boom Logistics.Pictured is Ian Daye, Director, Belle Banne, left, Brenton Salleh, General Manager, Victoria, Boom Logistics and

Richard Hull, Director of Belle Banne, at Belle Banne’s new head office in Dandenong South, Victoria.

A large amount of crane work wasinvolved in a recent equipment shutdownat the Port Hedland plant of one of thesubsidiaries of BHP Billiton - theworld’s biggest mining company.

Huge quantities of iron ore aremined by the company andshipped out through PortHedland, in Western Australia.This requires maintenanceprogrammes to be completedright on time and withinstringent safety standards.

Boom Logistics was thecrane hire company ofchoice and, following thesuccessful completionof the work, Boomreceived this letter ofacknowledgment andthanks. Well done toall involved.

New Travel Tower

increases rangeof access

equipment ... 18 m. lift.

Organizations requiring Travel Towers haveconsistently returned to Boom / Sherrin Hire.The latest addition to Sherrin Hire’s fleet willno doubt add to the value of our services forour customers.

The new Travel Tower, known as a Gloveand Barrier unit, has recently been addedto the Sherrin Hire fleet, primarily for use bypeople servicing power transmission lines.

As a heavily insulated unit, they more thancomply with the latest Australian SafetyStandards. Improvements include excellentinsulation for the bucket (a further advanceover other units in the fleet) as well asenhanced insulation around the whole unit.

The new Travel Tower, which has achieved new standards in design.It features more fibreglass components ... has a reach height of 18 m.

In particular, the lower boom is heavilyinsulated - if it touches a live cable it doesn’tshort circuit to ground.

The new units are also equipped with a flyboom, totally constructed of GRP fibreglasswhich is fully moulded. It is different toother booms in that it is all fibreglass withno steel sections moulded in at the ends.

Reach height is 18 m. and operating radiusis 11 m.

Insulation rating is 132 kV.

To help users of the Travel Towers, it is fittedwith a radio remote control operating system.

Basket capacity is 350 kg. net.

A competition has been set up to help find aNational Safety Message for Boom Logisticsand Sherrin Hire to promote across itsnational business ... and a handy prize isthere for the winner.

“We see the safety message being used topromote and raise safety awarenessthroughout our entire network of depotsacross Australia.” said Frank Legena,National Manager - Quality, Safety & Risk,at Boom Logistics.

All staff members are encouraged toenter the competition. Simply create amessage and post or e-mail itto our communications consultants,Northfield Communications Pty. Ltd., at139 Beach St., Port Melbourne , Vic., 3207.E-mail: northcom@bigpond.net.au

Ensure your name, address and phonenumber is clearly marked.

Entries close on the 28th July 06.

A safety kit (including a fire extinguisher)will be supplied for the car and home of thewinner of the competition.

Get on board. This is your opportunity tomake a positive contribution to safety in theBoom Logistics work place.

4

BHP Billiton acknowledgesBoom standards.

Competition forNational

Safety Message

... Boom is in there too

The world’s biggest ocean yacht race,The Volvo Ocean Race, previouslyknown as the Whitbread Round the

World Race, captures the imagination of manymany people.

It is the extreme conditions, the world leadingtechnology in the yachts and the deep keels ofthe men who sail the remarkable 21 m. (70 ft.)craft that deliver such a good result ... theseare but just some of the drivers.

The race started in the famous naval port ofPortsmouth, England, travelled down the westcoast of Africa, literally flew across theSouthern Indian Ocean - pushed by theRoaring Forties - stopped for a rest period inMelbourne and received help from BoomLogistics. It then pushed on to round CapeHorn via the incredibly temperamental DrakePassage then on to New York for another spell,then across ‘The Pond’ to Portsmouth, on tothe Hebrides off northern Scotland and finallyto Gothenburg, in Sweden, an overall distanceof 31,250 nautical miles.

When the craft ventured well south into icyseas, visibility might be only 400 metres attimes and sailing through the gaps between icebergs could require deviations as little as 10degrees. Imagine trying to achieve that in highwinds and heavy seas !

It’s life at the extreme ... the Everest of sailingand requires the utmost skill, endurance andcompetitive spirit. These were some of thereasons that inspired Boom Logistics to offersupport to the race.

Another part of the great test for the crewsis the conditions in which they live,accommodation for a crew of 10 is aboutthe size of a single car garage and the bunks,about 45 cm. wide, are constantly moving. No fresh food is taken on board and the crewexperience temperatures from -5 to 40+degrees Celsius. Only one change of clothes istaken on board. The boys trust their boat to theskipper while they also experience hunger andsleep deprivation .. usually no more than fourhours of sleep at a time.

What is it that drives men to endure suchdeprivation? There is no specific answer ... itsmore than the thrill of a win.

We asked another great sportsman whoendures similar deprivation - one of theworld’s top mountaineers. He too could notreally offer a detailed explanation but didquote another famous sailor - Captain JamesCook who said: “I want to sail as far as mancan sail ... and then beyond.”

It’s part of the great human spirit ... deeplyseated determination hidden in the depths ofsome human minds ... a drive that takeshumanity on to better things, a force whichhas resulted in you and I living a far better lifethan earlier generations.

Despite the extreme conditions for which thecraft are built they can sail at extreme speeds.To compare ... the fastest Sydney to Hobartyacht on record Wild Oats covered thedistance in just under two days (1 day,18 hours 40 minutes and 10 seconds).A V70 craft, as used in the big Volvo race,when travelling at high speed, could coverthe same distance in just over half the time... 24 hours!

We are talking speeds of 23.45 nautical milesper hour, with one of the two ABN Amroboats, compared with Wild Oats 14.74 n. milesper hour.

One of the secrets for the great speed isthe canting keel - the angle of the keel, inrelation to the underside of the hull, canbe hydraulically controlled. As good asthis relatively new technology is, it hasbeen the cause of about 90% of the boatbreakdown problems.

When tapped on the shoulder to help theseintrepid men, Boom responded and wasprepared to go that extra mile.

Involvement was initial de rigging (removingthe mast) from all but one boat, then liftingthe boats from the water and placing eachcraft into a custom made cradle. These craft,each worth $20 m, had to be handled withgreat care !

The Boom fleet included a 140 tonne Grove tohandle Movistar, a 120 tonne Demag forEriccson and Mad Max and a 250 tonneDemag for extra support.

To bring extra skill to bear, Boom Logistics’dogman Brent Stacey, himself an intrepidsailor racing smaller craft, attended each dayto help with the much appreciated crane work.

“We discovered down at the Docklandssite that the ABN Amro marquee hadthe best breakfasts by far, The Piratesof the Carribbean had the best lunchesand the best dinners were an even splitbetween Ericcson and ABN Amro. All ofthem good sports,” said Brent.

5

Brave men ... stout hearts ...performing despite the conditions.

One of the two superb 21 m racing craft sponsored by ABN Amro that reflect great advances in technologyand achieve incredible speeds in open seas, around 23.4 nautical miles per hour.

Dogging was part of the careful crane workwhen lifting the $20 m. craft back into the water.

Pictured is Boom Logistics’, Brent Stacey, himself astar performing yachtie, in slightly smaller craft.

Good news for investors ... large and small.

The April 06 report from the highly regardedshare brokers and investment advisers, ABNAmro, comments very favourably on theperformance of Boom Logistics.

They retain their ‘Buy’ recommendation basedon Boom’s share price of around of $4.55 ...and they also forecast a target price of $4.95. Itis a price upgrade of 13%.

“Boom is the industry leader and consolidatorin a very fragmented market,” said ChrisSleep, Analyst with ABN Amro.

“Recent strength (particularly Sherrin)reminds us that Boom (so far) has a very strongrecord in finding, executing and integratingacquisitions,” he added.

Dismantle the crane ... butdon’t break the glass !

Done ... and with a$150K bonus for

the customer !The tower crane stood alongside a 40storey glass faced building and, in someplaces, alarmingly close to the glass ... just15 cm. away.

This allowed very little room for error when‘climbing down’ the tower on this site inMelbourne’s C.B.D.

There were issues such as the possibility oftower flex, of up to 30 cm., when tensionwas released as a result of the tower’s staysbeing disconnected ... let alone the effectsof any unexpected wind gusts.

It was an exercise based on absolute precision,skill and experience.

The tower had originally been ‘climbed up’by the company which had been doingthe crane work but the head contractor,Multiplex, choose Boom Logistics for thevery tricky task of climbing down the tower.

For Multiplex the selecting of Boom alsomeant a considerable cost saving.

Whereas the conventional approach wouldhave been to position the dismantling crane inthe busy C.B.D. street, Bourke St., with theattendant traffic management issues andinterrupted tram services, Boom was able toengineer a way of positioning the mobile(dismantling) crane quite differently byadapting to a suspended concrete floor slab onthe building site itself.

The need for traffic management and hold upsfor trams was avoided.

Boom personnel and the engineer on the jobestimated our better way saved Multiplexat least $150,000. Great work guys.

Boom entry intoASX Top

200 Index.

A remarkable milestone was achieved inMarch this year by Boom Logistics.

Standard & Poor’s Index Services, the leadingprovider of equity indices in Australia,announced Boom Logistics’ inclusion in thekey ASX200 Index.

In short, this means that from a much smaller,somewhat humble beginnings in 2002 andfloating on the Australian Stock Exchange inOctober 2003 (still as a relatively smallcompany in ASX terms) the company hasgrown in an extraordinary way to be includedin the top 200 companies listed on the ASX.

Lifting solutions services are electing to useBoom Logistics.

This recognition provides our customerswith added security in using BoomLogistics’.

“This is a great result, and will trigger someindex buying as Index Managersre-weight to the new composition of theASX200,” said Naomi Flutter of EquityCapital Markets in the Sydney office theworldwide Deutsche Bank AG group.

6

$

$

$

$

$

$

This graph shows the steadyrise in Boom’s share price fromthe Initial Public Offering inOctober 03 to April 06.

A growth from $0.80¢ to $4.60(as at early May 06) showsa rise of $3.80 (475%)in 30 months. That equatesto an average annual growthof 190%. A very healthyreturn from a solid company.

NORTHFIELD 1810 05/06

To climb down this Tower Crane, which was asclose to the glass as 15 cm. in some sections the

building contractor, Multiplex, called in theexperts Boom Logistics. The upside for Multiplex,

a saving of more than $150,000.