ALS LIMITED — Capital/Financing Update 2009

Oct 1, 2009

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1 October 2009

Dear Shareholder

Campbell Brothers Limited – Rights Issue

On 1 October 2009, Campbell Brothers Limited ( Campbell Brothers ) announced a renounceable rights issue ( Rights Issue ) of 1 fully paid ordinary share in Campbell Brothers ( New Share ) for each 6 Campbell Brothers shares held by shareholders at an issue price of A$22.00 per New Share. The Record Date for the Rights Issue is Monday, 12 October 2009 ( Record Date ).

The Rights Issue is to be implemented under section 708AA of the Corporations Act 2001 (Cth), as modified by ASIC Class Orders CO07/571 and CO08/35. The Rights Issue will raise approximately A$196.6 million, and is fully underwritten by J.P. Morgan Australia Limited and RBS Morgans Corporate Limited.

Campbell Brothers will not issue a prospectus for the Rights Issue. Instead, an offer document detailing the Rights Issue ( Rights Issue Booklet ) will be sent to eligible Campbell Brothers shareholders shortly and will be made available on Campbell Brothers’ website at www.campbell.com.au. The Rights Issue is open to eligible Campbell Brothers shareholders on the share register as at the Record Date with registered addresses in Australia and New Zealand as defined in the Rights Issue Booklet. All other shareholders are not eligible to participate in the Rights Issue.

Entitlements to acquire New Shares pursuant to the Rights Issue are renounceable and will be traded on the ASX. Under the Rights Issue, eligible shareholders can choose whether or not to take up their entitlements in whole or in part and whether or not to apply for additional shares in excess of their entitlement. Eligible shareholders who do not participate in the Rights Issue may sell their entitlements on the ASX. If shareholders take no action, they will not be allocated New Shares and their entitlements will lapse.

The New Shares will rank equally with the existing ordinary shares from the date of issue. The current number of ordinary shares on issue in Campbell Brothers is approximately 53.6 million. Under the Rights Issue, approximately 8.94 million shares will be issued and the number of Campbell Brothers shares on issue at the completion of the Rights Issue will be approximately 62.6 million.

The indicative timetable for the Rights Issue is as follows:

Event	Date
Rights trading commences	Tuesday, 6 October 2009
Mailing of Rights Issue Booklet and Entitlement andAcceptance Form to Eligible Shareholders	Wednesday, 14 October 2009
Rights trading ends	Monday, 26 October 2009

Level 2, 299 Coronation Drive PO Box 2191 Milton Queensland 4064 Australia Telephone +61 7 3367 7900 Facsimile + 61 7 3367 8156 www.campbell.com.au

CAMPBELL BROTHERS LIMITED ABN 92 009 657 489

ME_82741539_1 (W2003)

2

Event	Date
Deferred settlement trading commences on ASX	Tuesday, 27 October 2009
Closing Date	5:00pm (AEST) on Monday, 2
	November 2009
Despatch of holding statements	Wednesday, 11 November 2009

The dates and times set out above are indicative only and subject to change.

Before making a decision whether to apply for New Shares, please read the Rights Issue Booklet carefully in its entirety when you receive it. The Rights Issue closes at 5:00pm (AEST) on Monday, 2 November 2009. If you have any queries regarding the Rights Issue please call the Campbell Brothers Offer Information Line on 1300 495 460 (calls within Australia) or +61 3 9415 4333 (calls outside Australia).

Further information in relation to Campbell Brothers’ activities and the Rights Issue is available on the company’s website at www.campbell.com.au.

One behalf of the Board and management of Campbell Brothers, thank you for your continued support.

By order of the Board

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Greg Kilmister Managing Director and Chief Executive Officer

This notice does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of, any “U.S. Person” (as defined in Regulation S under the United States Securities Act of 1933, as amended (“Securities Act”) (“U.S. Person”)). Neither the rights nor the New Shares have been or will be registered under the Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. Persons, absent registration or an exemption from registration under the Securities Act or pursuant to a transaction not subject to the registration requirements of the Securities Act.

The provision of this document is not, and should not be considered as, financial product advice. The information in this document is general information only, and does not take into account your individual objectives, taxation position, financial situation or needs. If you are unsure of your position, please contact your accountant, tax adviser, stockbroker or other professional adviser.

ME_82741539_1 (W2003)