CSL Ltd. — Director's Dealing 2004

Nov 25, 2004

Appendix 3Y

Rule 3.19A.2

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	Elizabeth Alexander
Date of last notice	29 April 2004

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 interest	Direct.
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant inferest.	$N/A$ .
Date of change	21 October 2004.
No. of securities held prior to change	3,333 ordinary shares (indirect interests) 1,882 ordinary shares (direct interests)
Class	Ordinary Shares.
Number acquired	17.
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Shares issued under the Company's Dividend Reinvestment Plan at a price of \$27.83.
No. of securities held after change	3,333 ordinary shares (indirect interests) 1,899 ordinary shares (direct interests)

$+$ See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of shares pursuant to the Dividend Reinvestment Plan, as authorised by shareholders at the 2003 Annual General Meeting.
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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

26 November 2004

$+$ See chapter 19 for defined terms.