AMCIL LIMITED — Net Asset Value 2015

Feb 3, 2015

4 February 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 January 2015	88 cents	83 cents
31 December 2014	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 January 2015.

Yours faithfully,

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Simon Pordage Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/01/2015

Valued at closing prices at 30 January 2015

1 CBA Commonwealth Bank of Australia 2 OSH Oil Search 3 BHP BHP Billiton 4 TLS Telstra Corporation 5 WBC Westpac Banking Corporation 6 BXB Brambles 7 NAB National Australia Bank 8 TCL Transurban Group 9 CSL CSL 10 AMP AMP 11 IPL Incitec Pivot 12 QUB Qube Holdings 13 RMD ResMed 14 STO Santos 15 QBE QBE Insurance Group 16 LIC Lifestyle Communities 17 TPM TPG Telecom 18 * SHL Sonic Healthcare 19 IPP iProperty Group 20 CPU Computershare As % of Total Portfolio (excludes Cash)	Total Value $ '000 16,526 14,242 11,923 10,783 10,338 9,222 8,195 7,967 7,203 6,224 6,166 5,913 5,656 5,432 5,127 4,825 4,221 3,908 3,646 3,529
	151,047
	78.0%

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

Cash position at 31 January 2015 - $21.0 million