CSL Ltd. — Capital/Financing Update 2007

Apr 26, 2007

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

CSL Limited

ABN 99 051 588 348

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{1}$ ⁺Class of ⁺securities issued or to be issued

Ordinary shares.

2.600.

• $\mathcal{D}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued
• $\overline{3}$ Principal terms of the ⁺securities (eg, if options, exercise price and date; if partly paid expiry *securities, the amount outstanding and due dates for payment; if securities, *convertible the conversion price and dates for conversion)

Full paid ordinary shares.

⁺ See chapter 19 for defined terms.

4	Do the securities rank equally in all respects from the date of allotment with an existing "class of quoted securities?	Yes.
	If the additional securities do not rank equally, please state: the date from which they do extent which the to they ۰ participate for the next dividend, of the case (in a trust. distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
5	Issue price or consideration	Date of grant of performance rights 31.03.04 at a NIL issue price.
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	Issued to employees under the Performance Rights Plan upon exercise of rights granted. The Performance Rights Plan was adopted at the 2003 Annual General Meeting.
7	Dates of entering "securities into uncertificated holdings or despatch of certificates	27 April 2007
		Number	* Class
8	Number and tclass to of a all quoted on ASX *securities (including the securities in clause 2 if applicable)	183,038,422	Ordinary shares

⁺ See chapter 19 for defined terms.

		Number	+ Class
9	Number and + class of all *securities not quoted on ASX (including the securities in clause 2 if applicable)	429,780	Options to subscribe for ordinary shares issued under CSL's employee share ownership plans (SESOP I and II).
		852,000	Rights Performance the under granted PRP.
		451,580	Performance Options granted under the PRP.
10	Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	on the enlarged issued capital created by this issue.	The present dividend policy will be maintained

Part 2 - Bonus issue or pro rata issue

11	security holder approval Is required?	Not applicable.
12	Is the issue renounceable or non- renounceable?	Not applicable.
13	Ratio in which the "securities will be offered	Not applicable.
14	Class of securities to which the offer relates	Not applicable.
15	determine *Record date to entitlements	Not applicable.
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?	Not applicable.
17	Policy for deciding entitlements in relation to fractions	Not applicable.

⁺ See chapter 19 for defined terms.

18	Names of countries in which the entity has *security holders who will not Ъc issue sent new documents Note: Security holders must be told how their	Not applicable.
	entitlements are to be dealt with. Cross reference: rule 7.7.
19	οf Closing date for receipt acceptances or renunciations	Not applicable.
20	Names of any underwriters	Not applicable.
21	Amount of any underwriting fee or commission	Not applicable.
22	Names of any brokers to the issue	Not applicable.
23	Fee or commission payable to the broker to the issue	Not applicable.
24	Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of *security holders	Not applicable.
25.	If the issue is contingent on "security holders" approval, the date of the meeting	Not applicable.
26	Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled	Not applicable.
27	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders	Not applicable.
28	Date rights trading will begin (if applicable)	Not applicable.
29	Date rights trading will end (if applicable)	Not applicable.
30	How do *security holders sell their entitlements in full through a	Not applicable.

⁺ See chapter 19 for defined terms.

broker? $31$ How do *security holders sell part Not applicable. of their entitlements through a broker and accept for the balance? 32 How do "security holders dispose Not applicable. of their entitlements (except by sale through a broker)? 33 *Despatch date Not applicable.

Part 3 - Ouotation of securities

You need only complete this section if you are applying for quotation of securities

• $34$ Type of securities (tick one)
• Securities described in Part 1 $(a)$
• $(b)$ All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the *securities are *equity securities, the names of the 20 largest holders of the additional "securities, and the number and percentage of additional "securities held by those holders
• If the "securities are "equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1,000$ $1.001 - 5.000$ $5.001 - 10.000$ $10,001 - 100,000$ 100,001 and over

37

A copy of any trust deed for the additional "securities

Entities that have ticked box 34(b)

$+$ See chapter 19 for defined terms.

38	Number of securities for which + quotation is sought	Not applicable.
39	Class of *securities for which quotation is sought	Not applicable.
40	Do the securities rank equally in all respects from the date of allotment with an existing "class of quoted securities?	Not applicable.
	If the additional securities do not rank equally, please state: the date from which they do the extent to which they participate for the next dividend, (in the case of trust. a distribution) or interest payment the extent to which they do not ٠ rank equally, other than in relation to the next dividend, distribution or interest payment
41	Reason for request for quotation	Not applicable.
	now Example: In the case of restricted securities, end of
	restriction period
	(if issued upon conversion οf another security, clearly identify that other security)
		Number	+ Class
42	Number and class of all securities quoted on ASX (including the securities in clause 38)	Not applicable.	Not applicable.

⁺ See chapter 19 for defined terms.

Ouotation agreement

• $\mathbf{1}$ *Quotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the *securities to be quoted complies with the law and is not for $\bullet$ an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the "securities be quoted.
• If we are a trust, we warrant that no person has the right to return the $\bullet$ *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any $\overline{4}$ information or document not available now, will give it to ASX before *quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:
	Company Secretary	27 April 2007

Print name:

---

Peter Turvey

⁺ See chapter 19 for defined terms.