AMCIL LIMITED — Net Asset Value 2015

Mar 4, 2015

5 March 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*
28	February	2015	95 cents	88 cents
31	January	2015	88 cents	83 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 28 February 2015.

Yours faithfully,

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Simon Pordage Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 28/02/2015

Valued at closing prices at 27 February 2015

1CBA Commonwealth Bank of Australia2* OSH Oil Search3BHP BHP Billiton4WBC Westpac Banking Corporation5* TLSTelstra Corporation6BXB Brambles7NAB National Australia Bank8* TCL Transurban Group9* CSL CSL10QUB Qube Holdings11AMPAMP12IPLIncitec Pivot13QBE QBE Insurance Group14LIC Lifestyle Communities15RMDResMed16* STOSantos17TPM TPG Telecom18* SHL Sonic Healthcare19JHCJapara Healthcare20BKWBrickworksAs % of Total Portfolio(excludes Cash)	Total Value$ '00017,00514,98513,71211,40010,3739,6578,7177,9217,5497,5057,2286,9526,2776,0005,7615,4254,8014,0103,9983,863
	163,139
	76.8%

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

Cash position at 28 February 2015 - $20.3 million