AUSTAL LIMITED — Major Shareholding Notification 2010

Jul 13, 2010

Form 603

Corporations Law

Section 671B

Notice of initial substantial holder

To Company Austal Limited Name/Scheme 009 250 266 ACN/ARSN 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22 000 443 274 The holder became a substantial holder on 08/07/2010

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

To Company Name/Scheme Austal Limited ACN/ARSN 009 250 266 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22000443274 The holder became a substantial holder on08/07/2010 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:	To Company Name/Scheme Austal Limited ACN/ARSN 009 250 266 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22000443274 The holder became a substantial holder on08/07/2010 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:	To Company Name/Scheme Austal Limited ACN/ARSN 009 250 266 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22000443274 The holder became a substantial holder on08/07/2010 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:	To Company Name/Scheme Austal Limited ACN/ARSN 009 250 266 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22000443274 The holder became a substantial holder on08/07/2010 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:	To Company Name/Scheme Austal Limited ACN/ARSN 009 250 266 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22000443274 The holder became a substantial holder on08/07/2010 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:	To Company Name/Scheme Austal Limited ACN/ARSN 009 250 266 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22000443274 The holder became a substantial holder on08/07/2010 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:	To Company Name/Scheme Austal Limited ACN/ARSN 009 250 266 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22000443274 The holder became a substantial holder on08/07/2010 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:	To Company Name/Scheme Austal Limited ACN/ARSN 009 250 266 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22000443274 The holder became a substantial holder on08/07/2010 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:	To Company Name/Scheme Austal Limited ACN/ARSN 009 250 266 1. Details of substantial holder (1) Name SCHRODER INVESTMENT MANAGEMENT AUSTRALIA LIMITED ACN / ARSN (if applicable) 22000443274 The holder became a substantial holder on08/07/2010 2. Details of voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:
Class of securities (4)		Number of securities			Persons’ votes (5)	Voting power (6)
Ordinary Shares		9,421,637			9,421,637	5.01%
3. Details of relevant interests The nature of the relevant interest the substantial holder or an substantial holder became a substantial holder are as follows:			associate had in the following voting securities on the date the
Holder of relevant interest				Nature of relevant interest (7)			Class and number of securities
SIMAL				Ordinary Shares				9,241,637
4. Details of present registered holders The persons registered as holders of the securities referred to			in paragraph 3 above are as follows:
Holder of relevant interest	Registered holder of securities		Beneficial Owner of Securities (8)					Class and number of securities
SIMAL	BNP Paribas Securities Services		Schroder Investment Management Australia					164,977
SIMAL	BNP Paribas Securities Services		AMPCapital Investors					365,733
SIMAL	JP MorganCustodialServices		EnergyIndustriesAustralia					124,005
SIMAL	JP Morgan Custodial Services		Schroder Investment Management Australia					3,161,561
SIMAL	JP MorganCustodialServices		HealthSuper PtyLtd					377,095
SIMAL	JP MorganCustodialServices		Zurich InvestmentManagement					157,574
SIMAL	CiticorpNomineesLtdHK		Colonial First StateInvestments					2,025,372
SIMAL	HSBC Custody Nominees (Australia)Ltd		Advance Asset Management					816,464
SIMAL	National NomineesLtd		AlcoaAustralia					146,422
SIMAL	National NomineesLtd		Equipsuper PtyLtd					120,286
SIMAL	National NomineesLtd		QueenslandInvestment Corporation					179,700

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SIMAL	National NomineesLtd	National NomineesLtd	National NomineesLtd	Telstra Super AnnuationScheme	Telstra Super AnnuationScheme	Telstra Super AnnuationScheme	581,763
SIMAL	National NomineesLtd			University ofSydney			81,337
SIMAL	National NomineesLtd			VisionSuper PtyLtd			163,572
SIMAL	State StreetAustraliaLimited			AXAGlobal Investors			133,368
SIMAL	State StreetAustraliaLimited			IPACAssetManagement			822,408
5. Consideration The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:
Holder of relevant interest		Date of acquisition	Consideration (9)			Class and number of securities
			Cash		Non-cash	ORDINARY SHARES
SIMAL		09/03/10–08/07/10	$769,089.98			342,639
6. Associates
The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:
Name and ACN/ARSN(if applicable)			Nature of association
Schroder Investment Management Australia Limited(“SIMAL”)			Related Fund Manager

7. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Schroder Investment	Level 20, Angel Place, 123 Pitt Street, Sydney, 2000, Australia
Management (Australia)
Limited (“SIMAL”)

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