AMCIL LIMITED — Net Asset Value 2010

Jun 30, 2010

1 July 2010

The Manager Company Announcements Office Australian Securities Exchange 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	2010	70 cents	69 cents
31	May	2010	71 cents	70 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 as at 30th June 2010.

Yours faithfully,

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Simon Pordage Company Secretary

AMCIL LIMITED

Top 20 Investments as at 30 June 2010

Valued at closing prices at 30 June 2010

1 CBA Commonwealth Bank of Australia 2 WBC Westpac Banking Corporation 3 HDF Hastings Diversified Utilities Fund 4 BHP BHP Billiton 5 TLS Telstra Corporation 6 NAB National Australia Bank 7 BKN Bradken 8 TCL Transurban Group 9 ASZ ASG Group 10 TOX Tox Free Solutions 11 QBE QBE Insurance Group 12 PPC Peet 13 CCL Coca-Cola Amatil 14 * ANZ Australia & New Zealand Banking Group 15 AMC Amcor 16 REA REA Group 17 AMP AMP 18 OSH Oil Search 19 AIX Australian Infrastructure Fund 20 MCU Mitchell Communication Group Total As % of Total Portfolio (excludes Cash)	Total Value $ '000 8,092 7,793 7,579 7,530 6,670 6,019 5,416 5,080 4,966 4,940 4,666 4,361 4,127 3,889 3,613 3,567 3,507 3,368 3,192 3,167
	101,542
	77.2%

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