CSL Ltd. — M&A Activity 2004

Feb 15, 2004

ASX ANNOUNCEMENT 16 February 2004

CSL Limited announced today that the US competition authority, the Federal Trade Commission, which has been reviewing CSL's proposed acquisition of Aventis Behring, has determined that it has no issues in respect to the transaction. The Company added that the German and Austrian authorities have already approved the transaction.

The Company advised that it sees this development as a major milestone in allowing it to close the transaction, although there were still a number of competition authority approvals pending in other countries, including in Europe, that are expected during March 2004 which, if granted, would allow closure of the transaction shortly thereafter.

For further information, please contact:

Mr Mark Dehring Investor Relations Manager $p_{h}$ $+61393892818$