CAR GROUP LIMITED — Major Shareholding Notification 2011

Mar 7, 2011

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	CARSALES.COM LIMITED
ACN/ARSN
1. Details of substantial holder (1)
Name	PARADICE INVESTMENT MANAGEMENT PTY LTD
ACN/ARSN (if applicable)	ABN 64 090 148 619

The holder became a substantial holder on

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:

$07/03/11$

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
FPO	12,786,091	12,786,091	5.462%

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 interest (7)	Class and number of securities
See Annexure 1

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	Person entitled to be registered as holder (8)	Class and number of securities
See Annexure 1

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
Paradice Investment	Various dates between	Cash	Non-cash
Mgt Pty Ltd	05/11/10 & 07/03/11	\$53,060,606.98		10,768,232
				FPO

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

7. Addresses

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

Name	Address
Paradice Investment Mgt	L12, 139 Macquarie Street, SYDNEY NSW 2000
Ptv Ltd

Signature

print name TONY HAMMOND COMPANY SECRETARY capacity $08/03$ $/11$ Veence date sign here

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an $(1)$ equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant $(5)$ interest in.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$
• $(7)$ Include details of:
• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out $(a)$ the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to $(b)$ which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $(8)$
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become $(9)$ entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

BECOMING A SUBSTANTIAL SHAREHOLDER

ANNEXURE 1

STOCK: CARSALES.COM LIMITED

DETAILS OF RELEVANT INTERESTS

Iolder of Relevant Interest	Nature or Relevant Interest	Luiass & Nuper of Sass
Paradice Investment Management Pty Ltd	vote and/or dispose of the securities Power to (or to control) exercise as discretionary investment managers or advisers of	12,786,091 Fully Paid Ordinary Shares
	investment schemes and investment superannuation trsuts, managed superannuation funds, pooled management agreements

		Person entitled to be registered Nature of Relevant Class & No of Persons
Holder of Relevant Interest	tered Holder of Securities as holder Regist		nterest	Securities	Votes
Paradice Investment Management Pty Ltd	National Nominees Ltd	National Nominees Ltd	nvestment Manager	4,920,631	4,920,631
Paradice Investment Management Pty Ltd	JP Morgan Nominees Aust Ltd	JP Morgan Nominees Aust Ltd	nvestment Manager	7,493,597	7,493,597
Paradice Investment Management Pty Ltd	Nominees HSBC	HSBC Nominees	nvestment Manager	371,863	371,863

This is annexure 1 of 1 pages referred to in form 603 Notice of Initial Substantial Holder

$\frac{7/03/2011}{\text{DATE}}$ 9 ATONY HAMMOND

COMPANY SECRETARY
CAPACITY