CAR GROUP LIMITED — Major Shareholding Notification 2012

Apr 17, 2012

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Facsimile Transmission

Hyperion Asset Management Limited

To: Company: Fax No: From:	Company Announcements Office ASX. 1300 135 638 I W Harrison	Level 22 307 Queen Street Brisbane Qld 4000 GPO Box1205 Brisbane Old 4001 Telephone 07 3020 3737 Facsimile 07 3020 3701 www.hyperionam.com.au clientservices@hyperionam.com.au
Date: Subject:	18 April 2012 Notice of change of interests of substantial holder
Pages (incl. Cover): 8

Please find following a Form 604 Notice of change of interests of substantial holder for holdings in Carsales.Com Limited by Hyperion Asset Management Limited.

$9n$ / $\sqrt{2}$

Mr I W Harrison Company Secretary

Hyperion Asset Management Limited ABN 80 080 135 897

represent the intermediately to a many of the original and may contain legally priviting dimformation intended for the named recipient only. If you are not the intended recipient, but are not the intended in this transmiss

;617 3020 3701 $#$ $2\,/\,$ $_{\rm 8}$ 604 Page 1 of 2 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Carsales.Com Limited (CRZ)
ACN/ARSN	ACN 074 444 018

1. Details of substantial holder (1)

Name			Hyperion Asset Management Limited (Hyperion)
ACN/ARSN (if applicable)	ACN	080 135 897
There was a change in the interests of the substantial holder on			12/04/2012
The previous notice was given to the company on			27/05/2011
The previous notice was dated			27/05/2011

2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary Fully Paid	26,482,748	11.30%	29,403,199	12.58%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
Refer Annexure А

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Refer Annexure в

$\rm ^{8}$

5. Changes in association

$18 - 04 - 12; 13:24$

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association ________
	الرائد المتوارد والمستحدث المتوارد والمتوارد والمتنازعة والمتوارد المتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمتوارد والمت

6. Addresses

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

Name	Address
Hyperion Asset Management Limited	Level 22, 307 Queen St Brisbane Qld 4000

Signature

print name	I W Harrison	capacity	Company Secretary
	sign here $y'$ p / f	date	18/04/2012

DIRECTIONS

• $(1)$ 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 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 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) $(a)$ applies, a copy of any document setting out 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 $(b)$ disposal of the securities to 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.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired $(7)$ has, or may, become 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.
• $(8)$ 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".
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$

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Annexure A

From 27 /05/2011 through 12/04/2012

From Date	To Date	Account Code	Person Whose Relevant Interest Changed	Nature of Change	Consideration	Number of Securites
27-May-11	12-Apr-12	AUSCOAL	Auscoal Superannuation Pty Ltd	BUY	1,340,628.05	276,549.00
27-May-11	12-Apr-12	AUSCOAL	Auscoal Superannuation Pty Ltd	SELL	$-1,227,042.41$	-251,885.00
27-May-11	12-Apr-12	BUSSQ	BUSS (Queensland) Pty Ltd	BUY	4,418,045.27	912,295.00
27-May-11	12-Apr-12	CBASUPER	CBA Officers Superannuation Fund Pty Ltd	BUY	1,213,097.80	234,461.00
27-May-11	12-Apr-12	CBASUPER	CBA Officers Superannuation Fund Pty Ltd	SELL	-1,242,149.87	-253,047.00
27-May-11	12-Apr-12	COALMINING	Coal Mining (Long Service Leave) Funding Corporation	BUY	235,060.80	46,621.00
27-May-11	12-Apr-12	COALMINING	Coal Mining (Long Service Leave) Funding Corporation	SELL	$-93,594.29$	-19,441.00
27-May-11	12-Apr-12	COINVEST	CoINVEST Limited	BUY	80,714.68	16,727.00
27-May-11	12-Apr-12	COINVEST	CoINVEST Limited	SELL	$-67,304.00$	-13,979.00
27-May-11	12-Apr-12	ESISUPER	Electricity Supply Industry Superannuation (QLD) Ltd <energy Super></energy	BUY	1,484,531.01	314,627.00
27-May-11	12-Apr-12	ESISUPER	Electricity Supply Industry Superannuation (QLD) Ltd <energy Super></energy	SELL	-149,967.66	$-30,566.00$
27-May-11	12-Apr-12		FAWKNHAML200 The Greater Metropolitan Cemetaries Trust	SELL	$-15,628.64$	$-3,242.00$
27-May-11	12-Apr-12		HEALTHSUPER Health Super Pty Ltd	BUY	2,860,710.08	586,307.00
27-May-11	12-Apr-12		HEALTHSUPER Health Super Pty Ltd	SELL	-638,788.93	-132,600.00
27-May-11	12-Apr-12	HYPGROWTH	Hyperion Australian Growth Companies Fund	BUY	161,773.44	31,149.00
27-May-11	12-Apr-12	HYPGROWTH	Hyperion Australian Growth Companies Fund	SELL	$-253,421.18$	-52,568.00
27-May-11	12-Apr-12	HYPSICAV	Hyperion Global SICAV - Australian Growth Companies	BUY	6,538.20	1,384.00
27-May-11	12-Apr-12	HYPSICAV	Hyperion Global SICAV - Australian Growth Companies	SELL	-88,425.60	$-17,600.00$
27-May-11	12-Apr-12		HYPSMALLGROV Hyperion Small Growth Companies Fund	BUY	412,491.51	81,777.00
27-May-11	12-Apr-12		HYPSMALLGROV Hyperion Small Growth Companies Fund	SELL	-433,916.64	$-94,786.00$
27-May-11	12-Apr-12	ICWA	Insurance Commission Western Australia	BUY	124,224.98	23,427.00
27-May-11	12-Apr-12	ICWA	Insurance Commission Western Australia	SELL	-241,076.35	$-50,034.00$
27-May-11	12-Apr-12	INGOPTIMIX	Optimix Wholesale Australian Share Trust	BUY	7,703,781.86	1,431,628.00
27-May-11	12-Apr-12	INGOPTIMIX	Optimix Wholesale Australian Share Trust	SELL	-932,211.07	-187,472.00
27-May-11	12-Apr-12	KARUHAMLAE	KARU Pty Ltd ATF Murdoch Family Trust No 1	BUY	4,648.72	992.00
27-May-11	12-Apr-12	KARUHAMLAE	KARU Pty Ltd ATF Murdoch Family Trust No 1	SELL	-61,791.90	$-12,754.00$
27-May-11	12-Apr-12	LOCALSUPER	Local Super Pty Ltd	BUY	497,029.76	104,567.00
27-May-11	12-Apr-12	LOCALSUPER	Local Super Pty Ltd	SELL	$-95,492.39$	$-19,463.00$
27-May-11	12-Apr-12		MARITIMESUPEI Maritime Super Pty Ltd	BUY	1,305,554.38	268,552.00
27 May 11	12-Apr-12		MARITIMESUPEI Maritime Super Pty Ltd	SELL	$-727,291.92$	$-148,543.00$
27-May-11	12-Apr-12		MEATINDUSTRY Meat Industry Employees' Superannuation Fund Pty Ltd	BUY SELL	56,587.37 $-171,616.43$	11,064.00 $-34,944.00$
27-May-11 27-May-11	12-Apr-12 12-Apr-12		MEATINDUSTRY Meat Industry Employees' Superannuation Fund Pty Ltd MILITARYSUPEF Commonwealth Superannuation Corporation	BUY	680,619.12	141,752.00
27-May-11	12-Apr-12		MILITARYSUPEF Commonwealth Superannuation Corporation	SELL	$-1,221,404.27$	-252,009.00
27-May-11	12-Apr-12	MURDSIHAML	Murdoch Investments Pty Ltd ATF The Scope Investment Trust	BUY	1,667.71	296.00
27-May-11	12-Apr-12	MURDSIHAML	Murdoch Investments Pty Ltd ATF The Scope Investment Trust	SELL	-1,401.18	$-291.00$
27-May-11	12-Apr-12	TOWERAM	Tower New Zealand	SELL	$-1,111,485.53$	-241,145.00
27-May-11	12-Apr-12	UNITEDSUPER	United Super Pty Ltd	BUY	560,850.73	119,681.00
27-May-11	12-Apr-12		UNITEDSUPER United Super Pty Ltd	SELL	$-1,458,441.88$	-293,072.00
27-May-11	12-Apr-12	UQ	The University of Queensland	BUY	108,485.98	22,624.00
27-May-11	12-Apr-12	UQ	The University of Queensland	SELL	-34,840.02	$-7,101.00$
27-May-11	12-Apr-12	VISIONTRUST	Vision Australia Foundation ATO Vision Australia Trust	BUY	4,969.09	1,044.00
27-May-11	12-Apr-12	VISIONTRUST	Vision Australia Foundation ATO Vision Australia Trust	SELL	-72,219.85	$-14,715.00$
09-Jan-12	05-Apr-12	IAS	Individually Managed Accounts	SELL	$-1,868,070.01$	-403,753.00
09-Jan-12	05-Apr-12		Individually Managed Accounts	SELL	$-1,165,811.79$	$-262,951.00$
09-Jan-12	05-Apr-12		HYPERION_IMA Hyperion Ast Mgt - Aust Clients	BUY	2,933,851.98	623,520.00
09-Jan-12	05-Apr-12		Hyperion_IMA_NZ Hyperion Ast Mgt - NZ Clients	BUY	27,598.20	6,000.00
09-Jan-12	05-Apr-12		Hyperion_IMA_JF Hyperion Ast Mgt - Japan Clients	SELL	$-4,773.10$	$-1,000.00$

$9$ $\mu$ Signed by:

This is Annexure "A" of 1 page as mentioned in form 604 Notice of change of interests of substantial holder

Capacity.

Company Secretary 18-Apr-12

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THE THRESSET MANGEMENT $\frac{\gamma}{\Gamma}$

Relevant Interest Holder of	Registered Holder of Security	Person entitled to be Registered as Holder	Nature of Relevant Interest	Class and Number of Securities	Personal Votes
Hyperion	Auscoal Superannuation Pty Ltd A/C > v JP Morgan Chase Nominees Pty Ltd	E Auscoal Superannuation Pty	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and for the dispoal of securities	2,709,082.00 Ordinary Fully Paid	2,709,082
Hyperion	BNP Paribas Australia Ltd < BUSS (QUEENSLAND) PTY LTD A/C >	BUSS (Queensland) Pty Ltd	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	912,295.00 Ordinary Fully Paid	912,295
Hyperion	Officers Superannuation Fund Pty Ltd A/C Citicorp Nominees Pty Limited < CBA $\lambda$	CBA Officers Superannuation Fund Pty Ltd	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	1,920,953.00 Ordinary Fully Paid	1,920,953
Hyperion	Coal Mining (Long Service Leave) Funding Funding Corporation JP Morgan Chase Nominees Pty Ltd < Corporation A/C >	Coal Mining (Long Service Leave)	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	458,610.00 Ordinary Fully Paid	458,610
Hyperion	JP Morgan Chase Nominees Pty Ltd < CoINVEST Limited A/C >	CoINVEST Limited	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	319,856.00 Ordinary Fully Paid	319,856
Hyperion	National Nominees Ltd < Electricity Supply Electricity Supply Industry Industry Super A/C >	Superannuation (QLD) Ltd	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	1,368,757.00 Ordinary Fully Paid	1,368,757
Hyperion	Citicorp Nominees Pty Limited < FAWKNER A/C >	The Greater Metropolitan Cemetaries Trust	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	72,614.00 Ordinary Fully Paid	72,614
Hyperion	JP Morgan Chase Nominees Pty Ltd < Health Super Pty Ltd A/C >	Health Super Pry Ltd	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	3,298,318.00 Ordinary Fully Paid	3,298,318

$18 - 04 - 12$ ; $13:24$ ;

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Hyperion	Citicorp Nominees Pty Limited < Hyperion Hyperion Flagship Investments Flagship Investments Limited A/C >	Limited	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and for the dispoal of securities	280,000.00 Ordinary Fully Paid	280,000
Hyperion	Australian Growth Companies Fund A/C > Citicorp Nominees Pty Limited < Hyperion	Hyperion Australian Growth Companies Fund	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	1,132,089.00 Ordinary Fully Paid	1,132,089
Hyperion	Citicorp Nominees Pty Limited < Hyperion Global SICAV - Australian Growth Companies A/C >	Australian Growth Companies Hyperion Global SICAV-	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and for the dispoal of securities	35,784.00 Ordinary Fully Paid	35,784
Hyperion	Citicorp Nominees Pty Limited < Hyperion Small Growth Companies Fund A/C >	Fund	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Small Growth Companies Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	294 291.00 Ordinary Fully Paid	294,291
Hyperion	Commission of Western Australia A/C > BNP Paribas Australia Ltd < Insurance	Insurance Commission Western Australia	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	1,135,478.00 Ordinary Fully Paid	1,135,478
Hyperion	Optimix Wholesale Australian Share Trust JP Morgan Chase Nominees Pty Ltd < دى م	Optimix Wholesale Australian Share Trust	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	4,816,655.00 Ordinary Fully Paid	4,816,655
Hyperion	Citicorp Nominees Pty Limited < KARU A/C >	KARU Pty Ltd ATF Murdoch Family Trust No 1	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	28,999.00 Ordinary Fully Paid	28,999
Hyperion	JP Morgan Chase Nominees Pty Ltd < Local Super SA-NT A/C >	Local Super Pty Ltd	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and for the dispoal of securities	905,948.00 Ordinary Fully Paid	905,948
Hyperion	National Nominees Ltd < Maritime Super Pty Ltd A/C >	Maritime Super Pty Ltd	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	1,092,861.00 Ordinary Fully Paid	1,092,861

$18 - 04 - 12$ ; $13:24$ ;

$\mathcal{A}$

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$# 6 / 8$

Hyperion	Meat Industry Employees' Superannuation JP Morgan Chase Nominees Pty Ltd < Fund Pty Ltd A/C >	Superannuation Fund Pty Ltd Meat Industry Employees'	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	423.924.00 Ordinary Fully Paid	423,924
Hyperion	National Nominees Ltd < Military Superannuation A/C >	Commonwealth Superannuation Corporation	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	1,325,967.00 Ordinary Fully Paid	1,325,967
Hyperion	Citicorp Nominees Pty Limited < Scope Investment Trust A/C >	Murdoch Investments Pty Ltd ATF The Scope Investment Trust	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	6,664.00 Ordinary Fully Paid	6,664
Hyperion	National Nominees Ltd < United Super Pty United Super Pty Ltd Ltd A/C >		Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	5,043,233.00 Ordinary Fully Paid	5,043,233
Hyperion	Citicorp Nominees Pty Limited < University The University of Queensland of Queensland A/C >		Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	271.458.00 Ordinary Fully Paid	271,458
Hyperion	Sandhurst Trustees Ltd < VISION SUPER Vision Australia Foundation ATO AC >	Vision Australia Trust	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	187,725.00 Ordinary Fully Paid	187,725
Hyperion	Individually Managed Accounts	<investment administrationHSBC Nominees Pty Ltd Services Pty Ltd>	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	168,440.00 Ordinary Fully Paid	168,440
Hyperion	Individually Managed Accounts		Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	81,510.00 Ordinary Fully Paid	81,510
Hyperion	HYPERION IMA	Hyperion Ast Mgt - Aust Clients	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and for the dispoal of securities	641,320.00 Ordinary Fully Paid	641,320

$18 - 04 - 12$ ; $13:24$ ;

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$7/8$

6,000	2,000	28,940,831
6,000.00 Ordinary Fully Paid	2,000.00 Ordinary Fully Paid
Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities	Investment Manager or in its own holdings for the persons or trusts listed beside its name, has the power to control Hyperion Asset Management Limited, in its capacity as voting and /or the dispoal of securities		This is Annexure "B" of 4 pages as mentioned in form 604 Notice of change of interests of substantial holder
Hyperion Ast Mgt - NZ Clients	Hyperion Ast Mgt - Japan Clients
Hyperion_IMA_NZ	Hyperion_IMA_JP	m 10m q	$18 - Apr - 12$ Company Secretary
Hyperion	Hyperion	Signed by:	Capacity: