AMCIL LIMITED — Net Asset Value 2011

Mar 1, 2011

2 March 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

			Before Tax*	After Tax*
28	February	2011	79 cents	75 cents
31	January	2011	78 cents	74 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.

Yours faithfully,

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Simon Pordage Company Secretary