CSL Ltd. — Capital/Financing Update 2004

Feb 4, 2004

ASX ANNOUNCEMENT 5 February 2004

UPDATE ON CSL SHARE PURCHASE PLAN

CSL Limited has today provided advice on the status of its Shareholders' Share Purchase Plan (SPP). On 16 December, 2003, CSL offered eligible CSL shareholders the opportunity to participate in the SPP by subscribing for up to A\$5,000 of additional shares in CSL. The SPP was intended to raise up to A\$100 million as part of the funding arrangements for CSL's acquisition of the Aventis Behring plasma business.

The offer period for the SPP closed at 5.00 p.m. (Melbourne time) on Friday, 30 January, 2004.

As at that time, applications were received from shareholders for a total of approximately A\$111 million worth of new shares. Given this strong showing of support by CSL's shareholders, and the amount by which the original target was exceeded, CSL has advised, after consultation with its institutional equity underwriters, that it will accept all of those applications and will not conduct any scaleback.

As previously announced, the issue price for each new CSL share under the SPP is the lower of:

• A\$15.70, being the price at which CSL shares were issued to institutional investors under the placement conducted on 8 December, 2003; and
• The volume weighted average price of CSL shares traded in the ordinary course on the ASX during the 15 trading day period commencing on Monday, 2 February, 2004, less a 5% discount (rounded down to the nearest cent).

Accordingly, the final price will not be known until the week beginning 23 February, 2004, at which time a further announcement will be made regarding the final issue price and the number of shares issued.

For further information, please contact:

Mr Mark Dehring Investor Relations Manager $+61393892818$ $Ph:$