Shareholder Update December 2008 Website: www.cityviewcorp.com Email: [email protected] ASX: CVI NASD: CTVWF FSE: C4Z This presentation may contain references to assumptions, representations, estimates, budgets and forecast outcomes that are uncertain by the nature of the business and no assurance can be given by CityView Corporation Limited. that its expectations, estimates, budgets and forecast outcomes will be achieved. Actual results may vary materially from those expressed herein.

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Strong Liquidity & Easy Transferability

Share Trading Volumes December 2007: January 2008: February 2008: March 2008: April 2008: May 2008: June 2008: July 2008: August 2008: September 2008: October 2008: November 2008:

122,091,785 105,575,453 102,308,787 141,420,900 64,361,369 168,532,450 157,447,948 114,738,147 88,309,817 184,912,482 257,092,332 66,727,705

Note: CityView shares are freely transferable between its US Register and Australian Register. 2

Commodity Basket CityView has accumulated a valuable commodity portfolio of copper, gold, diamonds and rare earths. CityView's strategy is to secure Government endorsed legal title to key resources in Africa and upgrade them to bankable feasibility/ production for minimum dilution to CityView's share capital. Management has a long successful track record in mining and energy.

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Why a Commodity Basket is still desirable despite the recent price falls Gold: There is no better regulator for the value of currency than gold. Copper: The BRIC economies Brazil, Russia, India and China are still in a metals-intensive stage of development. Diamonds: Supply of rough diamonds is declining. Oil: World consumption of oil exceeds new discoveries of oil

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Capital Structure Shares on Issue at December 1, 2008 (ASX : CVI) (OTCBB : CTVWF) (FSE : C4Z) Total:

Options on issue: (15c / Nov 2009)

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498,054,228 96,530,070

Management Chairman:

Manuel Africano

CEO:

Mark Smyth

Company Secretary:

Paul Williams

Non Exec Directors:

Robbie Brothers Philip Rand Wayne Reid

Advisory Board:

Conrad Maher Bart de Boer David Boote Paul de Chazal Nik Hoexter Kevin Sylvester Leith Wale

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Management Experience Manuel Africano:

Minister of Mines, Angola

Mark Smyth:

Selection Trust, Australia

Paul Williams:

General Gold, Mauritania

Robbie Brothers:

Wheelock Marden, Hong Kong

Philip Rand:

Equator, UK

Wayne Reid:

Nabisco, Australia

Paul de Chazal:

Simmons & Simmons, UK

Nik Hoexter:

Selection Trust/BP, British Gas, UK

Ian Egan:

BHP, Australia

Conrad Maher:

Occidental Petroleum, USA

Bart de Boer:

Occidental Petroleum, USA

David Boote:

Occidental Petroleum, USA

Kevin Sylvester:

Phillips Petroleum, USA

Leith Wale:

Nopco, Germany

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The story so far - 2006 March: Mark Smyth accepts position of CEO of CityView, a technically insolvent company listed on ASX.

May: CityView's pays off all debts and changes focus from Indonesia to Angola.

July: CityView acquires 30% working interest in the Longonjo metals & Ucua beryllium projects in Angola.

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The story so far - 2007 February: CityView commences on-site work programme in the Longonjo licence area. September: CityView confirms extensive mineralisation at its Catabola prospect in the Longonjo licence. December: CityView acquires interest in Fortitude Minerals Limited (“Fortitude”) the holder of interests in seven concession areas in Angola.

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The story so far - 2008 March: CityView transfers its Longonjo and Ucua interests to Fortitude. June: Price WaterhouseCoopers Report completed.

August: CityView negotiates participation in a refinery.

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Why Angola? Angola has become Africa’s largest oil producer: current oil production almost two million barrels of oil per day. Angola had US$19 billion in foreign reserves in October 2008 Angola’s growth rate in 2008 is running at approx. 27%. Angola has huge potential for minerals and diamonds. Angola’s sovereign risk rating has risen to 3 tier range. Favourable tax breaks and working conditions. Small population.

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Projects & Prospects 1.

Zenza/Dondo copper licence – 747 sq km

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Cachoeiras copper licence – 3615 sq km

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Benguela copper licence – 3943 sq km

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Benguela SW copper licence – 355 sq km

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Bentiabe copper licence – 183 sq km

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Ucua gold/beryllium licence – 1369 sq km

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Chipindo gold licence – 1433 sq km

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Longonjo copper/gold rare earths licence – 3750 sq km

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Longonjo diamond licence – 3000 sq km

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Luachisse diamond concession – 2700 sq km

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Nhefo diamond concession – 3280 sq km

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Angola Metals CityView owns 46.1% of Fortitude, which is chaired by Ian Egan. Fortitude holds a controlling interest in nine concession areas totaling more than 18,000 square kilometres of prime mineralised areas in Angola.

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Fortitude - Project Licences Licence

Percentage

Area

Copper:

Cachoeiras de Binga Zenza Dondo Benguela Benguela South West Bentiabe

80% 3,615 sq km 70% 747 sq km 70% 3,943 sq km 80% 355 sq km 80% 183 sq km

Gold: Carbonatite: Diamonds: Pegmatite:

Chipindo Longonjo Minerals Longonjo Diamonds Ucua

60% 1,433 sq km 70% 3,760 sq km 38% 3,000 sq km 70% 1,369 sq km _______________ 18,405 sq km

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Fortitude - Metals Portfolio Five copper licences running for several hundred kilometres along the western seaboard of Angola and encompass the greater part of the Upper Cuvo formation, where copper mineralisation has been reported along its entire length. It has the potential to be a new copper province. Included amongst the copper licences is Cachoeiras de Binga on which over 6,000 metres of core has been drilled. Fortitude's objective is to bring this resource to a bankable feasibility for early production. It will be a low cost operation.

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Fortitude - Metals Portfolio (cont) Chipindo Gold licence area with high gold grades reported in artisinal workings. Its geology is similar to the Minas Gerais gold area of Brazil and to the Kalgoorlie region of Western Australia. Longonjo copper-gold-rare earths licence area containing Catabola and Longonjo Carbonatite. At Catabola copper and iron oxide mineralisation has been identified over a 1.6 kilometre strike. At Longonjo Carbonatite niobium, tantalum and uranium minerals have been identified. Longonjo diamond licence ultimately to be transferred to CityView's diamond portfolio.

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Diamond Concessions CityView holds a 10% net profit interest in the Nhefo and Luachisse alluvial and diamond concessions held by Canzar Resources Limited and Endiama, the Angolan Government diamond authority. Documentation is being prepared for CityView to be granted equity in Canzar Resources Limited as a credit for approx. Aus$14 million past expenditure. Canzar’s Percentage Nhefo Luachisse

42% 41%

Area 3280 km² 2700 km²

Production is planned to begin in late 2009 with a 200 tonnes per hour production plant installed at Nhefo, followed by the installation of a similar plant at Luachisse.

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Refinery Negotiations are continuing for CityView to take part in a refinery capable of refining approx. 50,000 bpsd of crude oil which is to be upgraded to 100,000 bpsd. The refinery will be located in Nigeria and the approximate production breakdown is estimated to be; Product LPG Naptha Fuel Oil Megas Kero & Diesel Asphalt

Rate (BPSD) 1550 3784 8772 17370 13964 4560

West and Southern Africa do not have enough refinery capacity. This situation is forecast to continue. Much of the fuel consumed in West Africa has to be imported from Europe. Consequently refined products are in short supply and very expensive. 19

Summary Emerging from decades of war, Angola is finally open for business. It is currently the fastest growing economy in Africa. Whilst recognised for its oil and diamonds wealth, it is also minerals rich, with many areas yet to see any form of modern exploration. CityView has developed excellent connections there and a strong and experienced management with a good mix of technical and financial skills Joint ventures with powerful African groups. High grade projects in copper, gold, diamonds and rare earths.

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Luanda Port, Angola

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