CAR GROUP LIMITED — Major Shareholding Notification 2011

Mar 9, 2011

The Manager Company Announcements Officer ASX Limited Level 4, Exchange Centre 20 Bridge Street Sydney NSW 2000

10 March 2011

Dear Sir/Madam

carsales.com Limited (ASX:CRZ): Sale of Shares without a Disclosure Document

For the purposes of section 708A(5) of the Corporations Act 2001 (Cth) as notionally modified by ASIC Class Order 08/25 (Act), ACP Magazines Limited (ACP Magazines) gives notice under section 708A(5)(e) of the Act of the following details:

• $(a)$ on 10 March 2011, ACP Magazines completed the sale of 114,955,181 fully paid ordinary shares (Sale Shares) in the issued capital of carsales.com Limited (carsales) to a range of institutional and sophisticated investors;
• ACP Magazines sold the Sale Shares without disclosure to investors under Part 6D.2 of the Act $(b)$
• as at the date of this notice, ACP Magazines has complied with the provisions of Chapter 2M as they $(c)$ apply to carsales and Section 674 of the Act; and
• ACP Magazines is not aware of any information that may be "excluded information" for the purposes $(d)$ of section 708(7) or (8) of the Act, as at the date of this notice.

Yours sinderely

Patrick O'Sullivan Director ACP Magazines Limited

ACP Magazines Ltd. ABN 18 053 273 546 54 Park Street Sydney NSW 2000 GPO Box 4088 Sydney NSW 2001 TEL: (02) 9282 8000 FAX: (02) 9282 8844 www.acpmagazines.com.au