CSL Ltd. — Director's Dealing 2003

Feb 24, 2003

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

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 30/9/2001.

Name of entity	CSL Limited
ABN	99 051 588 348

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Dr Brian A McNamee
Date of last notice	10 September 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect inferest	Direct interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	21 February 2003 and 25 February 2003
No. of securities held prior to change	40,000 ordinary shares 830,333 Senior Executive Share Ownership Plan $\mathbb{H}$ ( SESOP II ) options
Class	Ordinary shares Options
Number acquired	530,333 fully paid ordinary shares
Number disposed	530,333 SESOP II options (as a result of their exercise)
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Consideration paid for the issue of the shares was \$5,303.33 (being 530,333 shares issued as a result of the exercise of 530,333 SESOP II options at an exercise price of \$0.01 per share)
No. of securities held after change	570,333 ordinary shares 300,000 SESOP II options

⁺ See chapter 19 for defined terms.

Nature of change	Exercise of SESOP II options over ordinary
Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	shares. The options were previously granted
	to Dr McNamee as the form of awards paid to
	Dr McNamee pursuant to a Memorandum of
	Understanding dated 16 July 1998 between Dr
	McNamee and CSL Limited. The grant of
	such options was approved by CSL
	shareholders at the 2000 Annual General
	Meeting.
	The options were exercised on 21 February
	2003, and the shares were issued to Dr
	McNamee pursuant to the exercise of the
	options on 25 February 2003.

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

Peter Turvey Company Secretary 25 February 2003

⁺ See chapter 19 for defined terms.