AMCIL LIMITED — Net Asset Value 2016

Feb 2, 2016

3 February 2016

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 2016	89 cents	83 cents
31 December 2015	93 cents	86 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 2016.

Yours faithfully

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Andrew Porter Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/01/2016

Valued at closing prices at 29 January 2016

1BXB Brambles2* CBA Commonwealth Bank of Australia3CSL CSL4* TLS Telstra Corporation5* OSH Oil Search6TWE Treasury Wine Estates7QUB Qube Holdings8TPM TPG Telecom9LIC Lifestyle Communities10TCL Transurban Group11* NAB National Australia Bank12QBE QBE Insurance Group13MFT Mainfreight14* IPL Incitec Pivot15CGL The Citadel Group16JHX James Hardie Industries17RMD ResMed18JHC Japara Healthcare19* BHP BHP Billiton20IPP iProperty GroupAs % of Total Portfolio(excludes Cash)	Total Value$ '0009,8249,7998,5287,5807,0616,8876,8106,5836,3005,9295,9295,8755,6205,3544,9794,8774,8304,6014,5854,378
	126,328
	58.3%

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