CSL Ltd. — Major Shareholding Notification 2007

Nov 22, 2007

Form 603 Corporations Act 2001 Section 671B

Notice of initial substantial holder

To CSL Limited (CSL) ACN/ARSN 051 588 348

1. Details of substantial holder

Name Barclays Group lodged by Barclays Global Investors Australia Limited ABN 33 001 804 566 (Barclays Global Investors Australia Limited)

The holder became a substantial holder on 13 November 2007.

2. Details of 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 an associate had a relevant interest on the date the substantial holder became a substantial holder are as follows:

Class of securities	Number of securities	Person’s votes	Voting power
Ordinary	27,546,164	27,546,164	5.04%

3. Details of relevant interests

The nature of the relevant interest the substantial holder had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest	Classandnumberofsecurities
Barclays Group	Fund Manager – see Annexure A	Ordinary27,546,164

4. Details of present registered holders

The persons registered as holder of the securities referred to in paragraph 3 above are as follows:

Holder ofrelevant interest	Registered holder of securities	Class and number ofsecurities
Barclays Group	JP Morgan & other custodians – see Annexure A	Ordinary27,546,164

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holderofrelevantinterest	Date of acquisition	ConsiderationCash/Non-cash	Class and number ofsecurities
Barclays Group	Past 4 months	Avg price$33.63	Ordinary27,546,164

6. Addresses

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

Name	Address
Barclays Global Investors Australia Limited	Level 43,225 George Street,SydneyNSW 2000

Signature

_____________________________________ Company Secretary Barclays Global Investors Australia

23 November 2007 Date

Barclays Global Investors Australia

Form 603 page 1 of 2

This is “Annexure A” of 1 page referred to in Form 603 Notice of initial substantial holder

Relevant interest in CSL Limited (“CSL”) held by members of the Barclays Group.

The list of Barclays entities and their respective holdings are as follows:

ASX			%
CODE	STOCK NAME	HOLDING		COMPANY
CSL	CSL Limited	344,151	0.06	Barclays Global Investors Japan Trust & Banking
CSL	CSL Limited	496815	0.09	Barclays Global Investors Japan Ltd
CSL	CSL Limited	1132058	0.21	Barclays Global Investors Ltd
CSL	CSL Limited	2000370	0.36	Barclays Global Investors Ltd
CSL	CSL Limited	147900	0.03	Barclays Life Assurance Co Ltd
CSL	CSL Limited	5850214	1.06	Barclays Global Investors, N.A.
CSL	CSL Limited	5254374	0.95	Barclays Private Bank Ltd
CSL	CSL Limited	1127896	0.21	Barclays Capital Securities Ltd
CSL	CSL Limited	42924	0.01	Barclays Global Investors Canada Ltd
CSL	CSL Limited	11149462	2.06	Barclays Global Investors Australia Ltd
		**27,546,164 **	**5.04 **

The JP Morgan Chase Bank Inc. and various other custodians (Custodians) hold shares in CSL as custodian and for which the Barclays Group are either:

• the responsible entity or trustee of pooled investment products such as registered managed investment schemes (Funds); or

• the investment manager of Portfolios held for a number of institutional investors. The institutional investors are generally superannuation funds regulated under the Superannuation Industry Supervision Act 1993 .

The holding of shares in CSL was acquired as part of the wide portfolio of Australian shares and units acquired for the Funds and the Portfolios.

The members of the Barclays Group and the Custodians may hold relevant interests due to the capacity of these entities to dispose of the shares in CSL.

Each investor in a Fund owns an undivided interest in the Fund’s assets, no client directly owns any asset of the Fund. The unitholding of each Fund varies from time to time as clients enter and withdraw from the Funds. The various institutional investors with portfolios delegate the management of the portfolios to the members of the Barclays Group.

_____________________________________ 23 November 2007 Company Secretary Date Barclays Global Investors Australia

Barclays Global Investors Australia

Form 603 page 2 of 2