AMCIL LIMITED — Net Asset Value 2008

Jul 1, 2008

2 July 2008

The Manager Company Announcements Office Australian Securities Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Electronic Lodgement

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Dear Sir or Madam

AMCIL Limited

Monthly Net Tangible Asset Backing Per Share and Top 20 Investments

			Before Tax*	After Tax*
30	June	2008	70 cents	69 cents
31	May	2008	76 cents	73 cents

*The before and after tax numbers relate to the provision for deferred tax on the unrealised gains in the Company’s investment portfolio. The Company is a long term investor and does not intend disposing of its total long term investment portfolio. Under current Accounting Standards, the Company is required to provide for tax on any gains that may arise on such a theoretical disposal, after the utilisation of brought forward losses.

These figures are subject to audit.

Also attached please find a list of the Company’s 20 largest investments.

Yours faithfully,

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Sue Crook Company Secretary

AMCIL LIMITED

Top 20 Investments as at 30 June 2008

Valued at closing prices at 30 June 2008

Securities held in the Trading and Investment portfolios 1 BHP BHP Billiton 2 QGC Queensland Gas Company 3 TLS Telstra Corporation 4 BKN Bradken 5 NAB National Australia Bank 6 RIO Rio Tinto 7 CEU ConnectEast Group 8 AMP AMP 9 BXB Brambles 10 PPC Peet 11 EQT Equity Trustees 12 AMC Amcor 13 ASZ ASG Group 14 OKN Oakton 15 AWC Alumina 16 OSH Oil Search 17 NWS News Corporation (a) 18 TOX Tox Free Solutions 19 MCU Mitchell Communication Group 20 CCL Coca-Cola Amatil Total As % of Total Portfolio (excludes Cash and Bank Bills)	Total Value $ '000 12,275 10,740 8,066 6,020 4,597 4,065 4,011 3,715 3,239 3,224 3,155 2,931 2,838 2,746 2,744 2,720 2,585 2,390 1,983 1,928
	85,969
	83.2%

• Indicates that options were outstanding against part or all of the holding

• (a) Includes $0.3 million of NWSLV Class A Non-Voting Common Stock