AMCIL LIMITED — Net Asset Value 2011

Apr 4, 2011

5 April 2011

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*
31 March 2011	80 cents	76 cents
28 February 2011	79 cents	75 cents

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

Attached is a list of the Company’s Top Twenty Investments as at 31 March 2011.

Yours faithfully,

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Simon Pordage Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/03/2011

Valued at closing prices at 31 March 2011

1 BHP BHP Billiton 2 HDF Hastings Diversified Utilities Fund 3 CBA Commonwealth Bank of Australia 4 WBC Westpac Banking Corporation 5 NAB National Australia Bank 6 TCL Transurban Group 7 BKN Bradken 8 ANZ Australia & New Zealand Banking Group 9 ILU Iluka Resources 10 QBE QBE Insurance Group 11 TLS Telstra Corporation 12 TOX Tox Free Solutions 13 REA REA Group 14 PPC Peet 15 OSH Oil Search 16 AMP AMP 17 AIX Australian Infrastructure Fund 18 CCL Coca-Cola Amatil 19 AMC Amcor 20 BXB Brambles As % of Total Portfolio (excludes Cash)	Total Value $ '000 9,312 9,308 9,241 8,930 6,908 6,626 5,701 5,668 5,320 5,227 4,800 4,625 4,397 4,375 4,336 4,303 4,264 4,109 3,998 3,894
	115,342
	72.2%