CAR GROUP LIMITED — Major Shareholding Notification 2011

May 5, 2011

Form 603

Corporations Law Section 671B

Notice of initial substantial holder

Carsales.com Limited To Company Name/Scheme 91 074 444 018 ABN/ARSN

1. Details of substantial holder (1)

Name Schroder Investment Management Australia Limited ABN / ARSN (if applicable) 22 000 443 274

The holder became a substantial holder on 20/04/2011

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	Class of securities (4) Number of securities	Persons’ votes (5)		Voting power (6)	Voting power (6)
Ordinary Shares 11,739,788		11,739,788			5.01%
3. Details of relevant interests
The nature of the relevant interest the substantial holder or an associate had in the following voting
securities on the date the substantial holder became a substantial holder are as follows:
Holder of relevant interest		Nature of relevant		Class and number of
		interest (7)		securities
SIMAL		Ordinary Shares		11,705,699
SIMNA LTD		Ordinary Shares			26,883
SIMJL		Ordinary Shares			3,603
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 Registered holder of	Person entitled to be registered as				Class and
relevant securities		holder (8)			number of
interest					securities
SIMAL BNP Paribas Securities Services		AMP Investors Limited			950,811
SIMAL BNP Paribas Securities Services		Clearview Financial Management Limited			396,423

Holder of	Registered holder of	Person entitled to be registered as	Class and
relevant	securities	holder (8)	number of
interest			securities
SIMAL	BNP Paribas Securities Services	AMP Investors Limited	950,811
SIMAL	BNP Paribas Securities Services	Clearview Financial Management Limited	396,423
SIMAL	JP Morgan Custodial Services	Schroder Investment Management Australia (“SIMAL”)	3,486,182
SIMAL	JP Morgan Custodial Services	Energy Industries Pty Ltd	167,727
SIMAL	JP Morgan Custodial Services	Health Super Fund	439,121

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SIMAL	SIMAL	JP Morgan Custodial Services	Zurich Investment Management	Zurich Investment Management	Zurich Investment Management	Zurich Investment Management	Zurich Investment Management	112,599
SIMAL		Citicorp Nominees Ltd HK	Colonial First State Investments Limited					1,766,272
SIMAL		HSBC Custody Nominees (Australia)Ltd	Advance Asset Management					854,054
SIMAL		National Nominees Ltd	Alcoa of Australia Retirement Plan Pty Ltd					140,022
SIMAL		National Nominees Ltd	Equipsuper Pty Ltd					115,100
SIMAL		National Nominees Ltd	Queensland Investment Corporation					72,371
SIMAL		National Nominees Ltd	Telstra Pty Ltd					589,254
SIMAL		National Nominees Ltd	University of Sydney					86,853
SIMAL		National Nominees Ltd	Uniting Church of NSW					33,970
SIMAL		National Nominees Ltd	Vision Super Pty Ltd					192,063
SIMAL		National Nominees Ltd	UniSuper Pty Ltd					694,352
SIMAL		National Nominees Ltd	Media Super Pty Ltd					212,127
SIMAL		National Nominees Ltd	CareSuper Pty Ltd					222,731
SIMAL		National Nominees Ltd	Emergency Services Superannuation Schm					92,824
SIMAL		National Nominees Ltd	Retirement Benefits Fund					211,818
SIMAL		State Street Australia Limited	Ipac Asset Management Ltd					699,343
SIMAL		State Street Australia Limited	AXA Global Investors Ltd					169,682
SIMNA LTD		PFPCTrust Co. PA.	PFPCTrust Co. PA.					26,883
SIMJL		JPMorgan Chase Bank, N.A. (Bournemouth)	JPMorgan Chase Bank, N.A. (Bournemouth)					3,603
5.Consideration
The consideration paid for each relevant interest referred to in paragraph 3 above, andacquired in the four monthsprior 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	21/12/2010– 20/04/2011			58,299,279.98			11,705,699
SIMNA LTD	21/12/2010– 20/04/2011			132,330.49			26,883
SIMJL	21/12/2010– 20/04/2011			18,744.97			3,603
The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:
Name and ACN/ARSN (ifapplicable)					Nature of association
Schroder Investment Management (Australia) Limited (“SIMAL”)					Level 20 Angel Place, 120 Pitt Street, Sydney, 2000,Australia
Schroder Investment Management North America (“SIMNA INC”)					31 Gresham Street, London EC2V 7QA, UK
Schroder InvestmentManagement Japan(“SIMJL”)					31GreshamStreet,London EC2V 7QA, UK

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7. Addresses

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

Name	Address
Schroder Investment Management	Level 20 Angel Place, 120 Pitt Street, Sydney, 2000, Australia
(Australia)Limited (“SIMAL”)
Schroder Investment Management North	31 Gresham Street, London EC2V 7QA, UK
America (“SIMNA INC”)
Schroder Investment Management Japan	31 Gresham Street, London EC2V 7QA, UK
(“SIMJL”)

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