CSL Ltd. — Major Shareholding Notification 2004

Feb 3, 2004

February 3, 2004

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

FAX: 011-61-7-3835-1004

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 regard Julie Finocchio

Cómpliance 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

617 563-7000

$\ddot{\cdot}$

$\mathbf{L}^{\star}$

$\mathcal{L}_{\mathbf{q}}$

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 $-02/02/04$ The previous notice was given to the company on $-12/19/03$ The previous notice was dated $-12/19/03$

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: $\mathbf{r}$ $\sim 10^4$

Class of Securities (4)	Previous Notice Person's votes	Previous Notice Voting Power	Present Notice Person's votes	Present Notice Voting Power
Common stock	18,807,579	9.94%	20,794,119	11.02%

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
02/02/04	FMR Corp.	Market transaction- purchase		241,600 shares common stock	241,600 shares common stock

$\ddot{\phantom{a}}$ n.

$\bar{1}$

$\tilde{q}_j$

$\frac{1}{2}$

$\frac{1}{2}$

$\bar{z}$ $\frac{1}{2}$

$\hat{\mathcal{A}}_i$

Ņ

$\bar{z}$

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	FA Diversified	965,705
	International
FMRCO	Fid Diversified	6,207,045
FMRCO	International
	Fid Pacific	207,618
FMRCO	Basin Fund	930,028
FMRCO	VIP Growth Fidelity Focus	516,029
	Health Care
FMRCO	Fid Southeast	94,000
	Asia Fund
FMRCO	Fid Worldwide	141,200
	Fund
FMRCO	Overseas Fund	900,700
FMRCO	FA Overseas	339,200
	Investment
	Fund
FMRCO	VIP Overseas	434,200
FMRCO	Fidelity	28,300
	Overseas Fund
	– Canada
FMRCO	Fid Asset	43,400
	Manager Fund
FMRCO	Fid Intl Growth	116,300
	& Income Fund
FMRCO	Fid Global	10,400
	Balanced Fund
FMRCO	VIP III Midcap	100
FMRCO	Portfolio
	VIP II Asset	15,600
FMTC	Manager Manulife	105,200
	Overseas
FMTC	Canadian	10,320
	Overseas Pacif
FMTC	FRTC Int.	64,320
	Pacific Jap
FMTC	Fric Int. Pacific	15,340
FMTC	Fric Int. Sec	19,960

ASX BRISBANE
REG FILINGS

÷

$\ddot{.}$

$\ddot{\phantom{a}}$

$\bar{a}$

	Pacific
FMTC	General Motors	157,560
	Pac Basin
FMTC	Chevron Tex	41,730
FMTC	RJ Reynolds	24,320
	Tob Pac Bas
FMTC	State Bd Adm	77,860
	of Fl-Pac
FMTC	Illinois Teach	77,430
	$Ret-PB$
FMTC	FICL GIbl	24,871
	Asset All Ew
IMTC	FICL Intl Port	253,120
	Eq
FMTC	Pac Basin Ex	165,380
	Coll Trust
FMTC	Kentucky Pen	82,720
	Pac Basin-
FMTC	Kentucky Ins	32,230
	Pac Basin
FMTC	IG FI Global Eq	4,125
FMTC	Fr Cad	17.710
	Overseas Pac
$\overline{\text{FMTC}}$	Ford Intl Pac	27,900
	Basin Sub
$\overline{\text{IMTC}}$	FRTC Russell	5,800
	Intl
FMTC	Principal	900
	Partners Intl
FMTC	Brown &	5,500
FMTC	Williamson Petro Cana Intl
		8,800
FMTC	Gт 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
	Hasin
FMTC	Fid Can Intl	23,000
	Growth
FMTC	Duke Energy	13,100
	Pac Basin
FMTC	Frank Russell	8,800
	RIF PAC
FMTC	Select Int Sm	4,000
	Cap Coll
FMTC	IG FI CI Gbl Eq	800
FMTC	Mix If Intl Por	600
FMTC	$FICL$ Sel Intl	3,000
	$Sm$ Cp
FMTC	Fid Select Intl	127,200
FMTC	Equity IBM Select
	Eafe Canada	37,800
FMTC	Dallas Police &	13,900
	Fire

ASX BRISBANE
REG FILINGS

J

FMTC	Ford Select Intl	21,500
FMTC	FICL Select Intl Eqty	17,900
$\overline{\text{PMTC}}$	IBM Canada Select Intl	13,700
$\overline{\text{TMTC}}$	$\overline{BM}$ Netherlands	29,200
FMTC	Ohio P&F Int Gr Pac Bas	48,730
FMTC	Agilent Tec Int	37,460
FMTC	PG&E Corp	30,320
FMTC	Metlife FI Intl	27,700
FMTC	Illinois Surs-Sel Inil	8,500
FMTC	CIBC Intl Eqty Pac Bas	12,300
$\overline{\mathbf{H}}$	Royal Mail Pension Plan	564,666
远	Hang Seng Bk Ltd Retirements	18,632
FIL.	Falcon/Flora	801,789
FIL	Fid Fds- International Pool	121,779
$\overline{\texttt{FIL}}$	Fid Fds- Australia Pool	148,970
$\overline{\text{FIL}}$	Fid Fds- Pacific Pool .	184,275
痖	HOKO Jockey Club	17,404
$\overline{\text{FL}}$	Health Foundation Pac Bas	20, 587
$\overline{\text{FIL}}$	Fid Advantage Australian Eq Тг	3,013
FП.	MTR Corp Retmt Pacif Eqty	14.562
FIL	Fid Fds – World Pool	10,970
肛	Hybank Intl Trst	4,645
匹	Jockey Club	32,523
FIL	Contingency National Corp	95,770
$\overline{\text{FL}}$	Inv Sycs Fidelity International Fund	21,124
$\overline{\text{HL}}$	Fid Managed International Fund	467,496
$\overline{\texttt{FL}}$	Fij It Global Eq Open Mother	9,047
豇	Fid Insti Fd- Pacific	473,874

$\bar{z}$

÷

$\overline{a}$

$\hat{\mathcal{A}}$

l,

$\mathbf{r}^{\prime}$

$\bar{z}$

戒	Singapore Pac
	HKMPF-Mkt	123,597
而	Inv Asia
	Hong Kong Elec STF Retr	13,861
	Scheme
え	Pacific Century	34,571
	Cyberwks Retir
$\overline{\rm HL}$	Jockey Club	33,571
	Charity Trust
FĪT.	Fil It Global	43,922
	Fund Mother
FIL.	Fij It Balanced	8,443
	Fund Mother
FIL	Stallion	70,920
$\overline{\mathbf{F}}$	Russell Invt	25,100
	Mgmt
阷	Railways Pens	505,850
	Eq
匹	Russell Intl	10,100
豇	Equity Fund Mine EMP	52,580
	Pension Fund
$\overline{\overline{\textbf{m}}}$	Sentinel Mng	102,220
	Ind Ret
$\overline{\texttt{FL}}$	Fid Fds	263,371
	Health Care
	Pool
阢	Japan Tobacco	2,900
	TQPP Asian
$\overline{\mathbf{FL}}$	Toyota Motor	3,600
阢	Corp Shinkin Bank	9,500
四	Fidelity South	137,000
	East Asia Fund
FĪL	Fid Fds-	178,000
	Southeast Asia
	Pool
阷	Innogy Pacific	38,300
	Ex Japan
匹	Fid Funds $-$	28,400
$\overline{FII}$	GIbl Focus Pool Australia-	14,400
	Funds SA
FIL.	Fid InstI South	413,790
	East Asia Fund
FIL	Shell Hong	48
	Kong Limited
FIL	SGE Row	4,600
FIL	GEC 1972 Pln	29,900
几	British Energy	13,000
$\overline{FL}$	Gen Grp IBM Denm	2,300
	Select
FIL	Accident Rehab	22,300
	& Cmp
$\overline{\mathbf{H}}$	IBM Austria	1,900
	Global

豇	Per-Stit De Unilever	1,500
$\overline{FL}$	FMT_GL Row	20,500
豇	East Sussex Cntv	32,000
$\overline{\mathrm{FL}}$	Chevron Texaxo UK	8,200
$\overline{\mathbf{H}}$	Meyer Intl Group	16,000
FĪL.	Stichting Pns Makro	1,300
$\overline{\mathrm{FIL}}$	Industriens Pens	7,400
$\overline{\text{FIL}}$	Co-Operative Grp i	11,300
匹	GKN Group Pension Scheme	49,100
$\overline{\textbf{FIL}}$	Eircom No 2 Pension Fund	17,400
ᇟ	Unilever (superann) Ireland	7,600
$\overline{\text{h}}$	$\overline{\text{IBM Irel Sel}}$ GIbl Equities	900
$\overline{\text{HL}}$	IBM Austria Select GIbl	3,600
FIL.	NPC Trust	2,000
FIL.	Fid Instl Fds- Global Focus $_{\rm Fd}$	2,500
TOTAL		20,794,119

1. 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)	Nature of association
FMR Corp./FMR Co., FMTC	FMR Co. is the adviser to the registered holders named in Section 4 and has power under its management agreements to dispose of the subject shares.
	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

$\hat{\mathcal{A}}$

	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.

$\hat{\mathbf{r}}$

$\hat{\boldsymbol{\beta}}$

$\sim 10^{-1}$

$\ddot{\phantom{a}}$

$\ddot{\phantom{0}}$

$\ddot{\phantom{a}}$

$\overline{\phantom{a}}$

$\sim$ $\sim$

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
FIL.	PO Box HM 670, Hamilton HMCX, Bermuda

Signature: 02/03/04

ic D. Roitei By

Eric D. Rotter

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.