CSL Ltd. — Major Shareholding Notification 2004

Feb 23, 2004

团001

February 20, 2004

Australian Stock Exchange Ltd. - Brisbane Riverside Centre 123 Eagle Street Brisbane, QLD 4000 Australia

FAX: 011-61-7-3835-1004

'04 FEB 24 12:22

ATTN: Manager Companies

Dear Sir/Madam

Enclosed herewith, please find one copy of Form 604, pursuant to Section 671B of the Corporations Act, Notice of Change of Interests of Substantial Holder, reporting the interests in CSL Ltd of certain entities owned or managed by Fidelity Management and Research Company and Fidelity International Limited as disclosed more fully in the notice.

If you have any questions, please contact me by phone at 617-563-7883 or by FAX at 617-476-0363.

Kindest regards. Julie Finocchio Compliance Specialist

Enclosures

Fidelity Management & Research Company FMR Co

Mailing Address: One Federal Street E14B Boston, MA 02109-3614 Office Address: 82 Devonshire Street Boston, MA 02109

417 563-7000

团002

Form 604 Corporations Act 2001 Section 671B

Notice of Change of Interests of Substantial Holder

To: CSL Limited ACN/ARSN:

1. Details of substantial holder (s)

Name: FMR Corp. ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated

$-$ February 18, 2004 $February$ 3, 2004 $F$ ebruary 3, 2004

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of Securities (4)	Previous Notice Person's votes	Previous Notice Voting Power (5	Present Notice Person's votes	Present Notice Voting Power
, Common stock	.20,794,119	11.02%	22,901,849	$12.13\%$

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of Change	Person whose relevant interest changed	Nature of change $(6)$	Consideration given in relation to change $(7)$	Class and number of securities affected	Person's votes affected
02/18/04	FMR Corp.	Market transaction- purchase		492,224 shares common stock	492,224 shares common stock

$\hat{r}$

$\hat{\mathcal{A}}$

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

	Holder of	Registered	Class and
Relevant		Holder of	number of
Interest		securities	securities
	FMRCO	Select	20,562
		Pharmaceuticals
	FMRCO	Fid Balanced	1,051,421
		Fund
	FMRCO	FA Equity	914,019
		Growth Fund
	FMRCO	Fidelity Small	681,606
		Cap Stock Fund
	FMRCO	FA Global	1,910
		Equity
	FMRCO	Fid Aggressive	13,600
		Intl Fund
	FMRCO	FA Diversified	1,078,021
	FMRCO	International
		Fid Diversified	6,633,129
	FMRCO	International Fid Pacific
		Basin Fund	282,618
	FMRCO	VIP Growth
	FMRCO	FA Intl Capital	930,028 14,500
		Appreciation
	FMRCO	Fidelity Focus	680,078
		Health Care
	FMRCO	Fid Southeast	94,000
		Asia Fund
	FMRCO	Fid Worldwide	194,800
		Fund
	FMRCO	Overseas Fund	1,242,000
	FMRCO	FA Overseas	479,400
		Investment
		$\mathbf{Fund}$
	FMRCO	VIP Overseas	613,000
	FMRCO	Fidelity	39,200
		Overseas Fund
		– Canada
	FMRCO	Fid Asset	80,500
	FMRCO	Manager Fund
		Fid Intl Growth	116,300
	FMRCO	& Income Fund Fid Global
			10,400
	FMRCO	Balanced Fund VIP III Midcap
		Portfolio	19,200
	FMRCO	VIP II Asset	21,000
		Manager
	$\overline{\text{FMTC}}$	Manulife	148,400
		Overseas
	$\overline{\text{FMTC}}$	Canadian	11,380
		Overseas Pacif

$\bar{z}$

$\mathcal{L}_{\mathcal{A}}$

$\alpha$

$\overline{\text{FMTC}}$	FRTC Int. Pacific Jap	64,320
FMTC
FMTC	Fric Int. Pacific	16,870
	Fric Int. Sec Pacific	19,900
$\overline{\text{FMTC}}$	General Motors
	Pac Basin	157,560
FMTC	Chevron Tex	41,730
$PMT\overline{C}$	RJ Reynolds	24,320
	Tob Pac Bas
$F\Lambda\overline{\text{TC}}$	State Bd Adm	77,860
	of Fl-Pac
FMTC	Illinois Teach	77,430
	$Ret-PB$
FMTC	FICL GIbI	24,871
	Asset All Ew
FMTC	FICL Ind Port	253,120
	Eq
$\overline{\text{EMTC}}$	Pac Basin Ex	166,890
$\overline{\text{EMTC}}$	Coll Trust
	Kentucky Pen	117,560
FMTC	Pac Basin Kentucky Ins
	Pac Basin	32,230
FMTC	IG FI Global Eq	4,125
FMTC	Fr Cad	20.570
	Overseas Pac
FMTC	Ford Intl Pac	27,900
	Basin Sub
$\overline{\text{FMTC}}$	FRTC Russell	5,800
FMTC	Intl
	Principal	900
FMTC	Partners Intl Brown &	5,500
	Williamson
FMTC	Petro Cana Intl	8,800
	Ġг
FMTC	Illinois Trs Pob	19,530
FMTC	Mellon Bk Intl	5,930
FMTC	RK Mellon Intl	11,900
FMTC	Fidelity Int'l Gr	12,600
FMTC	Hydro One Pac	18,600
FMTC	Basin Fid Can Intl
	Growth	23,000
FMTC	Duke Energy	13,100
	Pac Basin
$\overline{\text{EMTC}}$	Frank Russell	8,800
	RIF PAC
$\overline{\text{FMTC}}$	Select Int Sm	4,000
	Cap Coll
FMTC $\overline{\text{FMTC}}$	IG FI CI Gbl Eq	800
$\bar{\mathrm{FMTC}}$	$\overline{\text{Mix}}$ If Intl Por FICL Sel Intl	600
	Sm Cp	3,000
$\overline{\text{FMTC}}$	Fid Select Intl	127,200

÷.

FMTC	IBM Select	37,800
FMTC	Eafe Canada
	Dallas Police &	13,900
FMTC	Fire
FMTC	Ford Select Intl	21,500
	FICL Select Intl	17.900
$\overline{\text{FMTC}}$	Eqty
	IBM Canada	13,700
$\overline{\text{FMTC}}$	Select Intl
	ΒМ	29,200
FMTC	Netherlands
	Ohio P&F Int	47,550
FMTC	Gr Pac Bas
FMTC	Agilent Tec Int	37,460
FMTC	PG&E Corp	30,320
FMTC	Metlife FI Intl	27,700
	Illinois Surs-Sel Intl	8,500
FMTC
	$\overline{\text{CBC}}$ Intl Eqty Pac Bas	12,300
ETMTC	Transition
	Basex	5,570
$\overline{FMTC}$	General Motors	31,800
	Inv
FMTC	FICL GLBL	100
	Oppor Non-US
帀	Royal Mail	564,666
	Pension Plan
$\overline{\mathrm{FIL}}$	Hang Seng Bk	18,632
	Ltd Retirements
FIL	Falcon/Flora	906,589
$\overline{FL}$	$\overline{\text{Fid}}$ $\text{Fds}$ -	121,779
	International
	Pool
叿	Fid Fds-	148,970
	Australia Pool
ात,	$FidFds -$	184,275
	Pacific Pool
$\overline{\text{FL}}$	HOKO Jockey	17,404
	$_{\rm Club}$
FIL	Health	20,587
	Foundation Pac
阷	Bas
	Fid Advantage Australian Eq	3,013
	Tr
FIL	MTR Corp
	Retmt Pacif	14,562
	Eqty
戒	Fid Pds -	12,470
	World Pool
$\overline{\text{FL}}$	Hybank Ind	4,645
	Trst
$\overline{\mathrm{FL}}$	Jockey Club	32,523
	Contingency
矼	National Corp	95,770
	Inv Sves
ĒЦ.	Fidelity	21,124

$\sim$ $\sim$

$\ddot{\phantom{a}}$

$\mathcal{A}$

$\sim$

$\bar{z}$

	International
	Fund
$\overline{\text{FL}}$	Fid Managed		663,996
	International
	Fund
ला.	Fij It Global Eq		9.047
$\overline{\text{FL}}$	Open Mother
	Fid Instl Fd-		473,874
$\overline{\textbf{H}}$	Pacific
	Govt of		23,140
FIL	Singapore Pac
	HKMPF-Mkt Inv Asia		131,707
FIL	Hong Kong
	Elec STF Retr		13,861
	Scheme
FIL	Pacific Century		34,571
	Cyberwks Retir
FL	Jockey Club		33,571
	Charity Trust
FIL	Fij It Global		62,222
	Fund Mother
$F\overline{u}$	Fij It Balanced		8,443
	Fund Mother
豇	Stallion		70,920
$\overline{\texttt{FIL}}$	Russell Invt		26,400
	Mgmt
$\overline{FL}$	Railways Pens		474,880
	Eq
$\overline{\text{FL}}$	Russell Intl		10,100
	Equity Fund
冠	Mine EMP		52,580
$_{\rm FIL}$	Pension Fund
	Sentinel Mng		102,220
$\overline{\text{FL}}$	Ind Ret
	Fid Fds –		344,122
	Health Care Pool
豇	Japan Tobacco
	TQPP-Asian		$\frac{1}{2}$ 900
肛	Shinkin Bank		9,500
$\overline{FIL}$	Fidelity South		137,000
	East Asia Fund
FIL.	$Fid Fds -$		178,000
	Southeast Asia
	Pool
成	Innogy Pacific		38,300
	Ex Jap an
豇	Fid Funds -		43,000
	Gibl Focus Pool
$\overline{\texttt{FL}}$	Australia -		14,400
豇	Funds SA
	Fid Instl South		413,790
FIL	East Asia Fund Shell Hong
	Kong Limited	48
$\overline{\mathbf{m}}$	$\overline{\text{SGE}}$ Row		4,600
叿	GEC 1972 Pln		29,900

$\sim$ $\alpha$

$\sim$

FIL.
	British Energy	13,000
$\overline{\texttt{FL}}$	Gen Grp
	IBM Denm Select	2,300
戒
	Accident Rehab	22,300
戒	& Cmp IBM Austria
	Global	1,900
FL	Per-Stit De
	Unilever	1,500
FII.	$FMT$ GL $R{OW}$	20,500
F1L	East Sussex	32,000
	Cnty
戒	Chevron	8,200
	Texaxo UK
$\overline{\text{FIL}}$	Meyer Intl	16,000
	Group
$\overline{FL}$	Stichting Pns	1,300
	Makro
$\overline{\textbf{F}}$	Industriens	7,400
	Pens
$\overline{\mathrm{FIL}}$	Co-Operative	11,300
	Grp
$\overline{\text{FL}}$	GKN Group	49,100
	Pension
	Scheme
$\overline{\text{FL}}$	Eircom No $2$	17,400
$\overline{\mathtt{F}\mathtt{I}}$	Pension Fund
	Unilever (superann)	7,600
	Ireland
$\overline{\text{FL}}$	IBM Irel Sel	900
	Glbl Equities
豇	IBM Austria	3,600
	Select Glbl
FIL.	NPC Trust	2,000
$\overline{\text{FL}}$	Fid Instl Fds-	2,000
	Global Focus
	Fd
FЩ	Fid Instl $FdS -$	3,700
	Global Focus Fd
TOTAL
		22,901,849

5. Changes in Association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their
association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) FMR Corp./FMR Co., FMTC	Nature of association . FMR Co. is the adviser to the registered holders $\overline{\phantom{a}}$ , named in Section 4 and has power under its management agreements to dispose of the subject shares.

$\sim 10^7$

$\mathcal{A}^{\mathcal{A}}$

	FMR Co. is a wholly-owned subsidiary of FMR Corp., a Delaware corporation. Edward C. Johnson 3d is chairman of FMR Corp. and owns in excess of 10% of the voting power of FMR Corp. and may thereby be deemed an associate of FMR Co.
	However, neither FMR Corp. nor Edward C. Johnson 3d has sole power to vote or direct the voting of, or to dispose of or direct the disposition of, the subject shares. FMR Co. carries out such voting under written guidelines established by the Board of Trustees of the Funds which are the registered holders.
	Fidelity Management Trust Company ("FMTC") is a trust company organized under the laws of Delaware and is a wholly-owned subsidiary of FMR Corp.
	Because FMTC and FMR Co. are under the common control of FMR Corp., FMTC may be considered a related body corporate and hence an "associate" of FMR Corp., as such term is used in the Corporations Law.
	FMTC's relevant interest consists of the power to dispose of, and may also consist of the power to vote or direct the voting of, the shares for the institutional accounts with which it has a management agreement.
FIL	FIL is the adviser to the registered holders named in Section 4 above, each of which is an investment company organized under the laws of a jurisdiction other than the United States, and has power under its management agreements to dispose of the subject shares.
	Edward C. Johnson 3d is chairman of FIL and owns in excess of 20% of the voting power of FIL. By reason of his ownership of the "prescribed percentage" of FIL, Mr. Johnson may be deemed the holder of a relevant interest in the subject shares and a substantial shareholder.
	FIL has power to vote and dispose of the shares of the Funds which it advises.

$\sim 10$

$\sim$

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
FMR Corp., FMR Co., FMTC
	182 Devonshire Street
	Boston, MA 02109
ΗЦ
	PO Box HM 670, Hamilton HMCX, Bermuda

Signature: 02/20/04

$By$ Eric D. Roiter

$\tilde{f}$ , and $\tilde{f}$

$\sim$ . . . . . . . . . . . . . . . . . . .

Senior V.P. & General Counsel - FMR Co. Duly authorized under Powers of Attorney dated December 30, 1997, by and on behalf of FMR Corp. and its direct and indirect subsidiaries, and Fidelity International Limited and its direct and indirect subsidiaries.