AMCIL LIMITED — Net Asset Value 2015

Jun 2, 2015

3 June 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	May	2015	96 cents	89 cents
30	April	2015	95 cents	88 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 May 2015.

Yours faithfully

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Andrew Porter Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/05/2015

Valued at closing prices at 29 May 2015

Valued at closing prices at 29 May 2015
1* CBA Commonwealth Bank of Australia2* OSH Oil Search3* BHP BHP Billiton4* TLS Telstra Corporation5BXB Brambles6* WBC Westpac Banking Corporation7NAB National Australia Bank8QUB Qube Holdings9* TCL Transurban Group10CSL CSL11QBE QBE Insurance Group12IPL Incitec Pivot13AMP AMP14LIC Lifestyle Communities15TPM TPG Telecom16* STO Santos17* RMD ResMed18JHC Japara Healthcare19BKW Brickworks20TWE Treasury Wine EstatesAs % of Total Portfolio(excludes Cash)	Total Value$ '00015,66613,99111,15410,1409,9539,0618,5257,3287,2417,2007,0796,8156,6606,0505,9215,6674,9834,5534,3123,608
	155,907
	70.6%

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

Cash position at 31 May 2015 - $17.2 million