AMCIL LIMITED — Net Asset Value 2015

Nov 3, 2015

4 November 2015

The Manager ASX Market Announcements Australian Securities Exchange Exchange Centre 20 Bridge Street Sydney NSW 2000

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Electronic Lodgement

Dear Sir / Madam

AMCIL Limited

Monthly Net Tangible Asset Backing Per Share and Top 20 Investments

	Before Tax*	After Tax*
31 October 2015	90 cents	84 cents
30 September 2015	87 cents	82 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 any brought forward losses.

Attached is a list of the Company’s Top Twenty Investments as at 31 October 2015.

Yours faithfully,

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Simon Pordage Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/10/2015

Valued at closing prices at 30 October 2015

1* OSH Oil Search2* CBA Commonwealth Bank of Australia3BXB Brambles4CSL CSL5TLS Telstra Corporation6TPM TPG Telecom7* QBE QBE Insurance Group8NAB National Australia Bank9* BHP BHP Billiton10QUB Qube Holdings11* IPL Incitec Pivot12LIC Lifestyle Communities13TCL Transurban Group14TWE Treasury Wine Estates15JHC Japara Healthcare16RMD ResMed17CGL The Citadel Group18SHL Sonic Healthcare19JHX James Hardie Industries20AMA AMA GroupAs % of Total Portfolio(excludes Cash)	Total Value$ '00012,35911,8759,1627,6917,3177,2447,1556,9356,8986,8706,8056,6255,7425,3824,9874,8244,7424,0494,0264,023
	134,710
	62.4%

• Indicates that options were outstanding against part of the holding.

Cash position at 31 October 2015 - $6.2 million