CSL Ltd. — Share Issue/Capital Change 2003

Oct 15, 2003

15 October 2003

Mr James Gerraty Manager Listings Australian Stock Exchange Limited 530 Collins Street MELBOURNE VIC 3000

Dear Mr Gerraty

NEW ISSUE OF OPTIONS AND ORDINARY SHARES TO EMPLOYEE

We advise that 9,000 shares were issued today to a senior executive eligible to exercise options issued to him under SESOP II on 17 March 1998. SESOP II was approved by shareholders at General Meeting on 20 November 1997.

Yours sincerely

Peter Turvey COMPANY SECRETARY

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

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 171/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

CSL Limited

ABN 99 051 588 348

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{1}$ ⁺Class of ⁺securities issued or to be issued

Ordinary shares.

• $\overline{2}$ Number of ⁺securities issued or to $9.000$ be issued (if known) or maximum number which may be issued
• 3 Principal terms of the *securities (eg, if options, exercise price and expiry date; if partly paid "securities, the amount outstanding and due dates for payment; if *convertible securities, the conversion price and dates for conversion)

Fully paid ordinary shares.

$+$ See chapter 19 for defined terms.

4	Do the securities rank equally in all respects from the date of allotment with an existing "class of quoted securities?	Yes.
	If the additional securities do not rank equally, please state: the date from which they do the which extent to. they participate for the next dividend, οf (in case the. a trust. distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
5	Issue price or consideration	Date and grant of options - SESOP II on 17 March 1998. 9,000 shares at an issue price of $$11.45 =$ \$103,050.00.
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	Issued to employees under the Senior Executive Share Ownership Plan II upon exercise of options granted. The Plans were adopted at a Shareholders' General Meeting 20 on November 1997.
7	Dates of entering "securities into uncertificated holdings or despatch of certificates	15 October 2003.
8	$\pm$ class Number and. of all *securities quoted ASX on (including the securities in clause 2 if applicable)	Number 160,027,081	$\overline{C}$ lass Ordinary.

⁺ See chapter 19 for defined terms.

$\overline{9}$ Number and ⁺class of all *securities not quoted on ASX (including the securities in clause 2 if applicable)

Number	+ Class
4,638,802	Ordinary

$10₁₀$ Dividend policy (in the case of a The present dividend policy will be maintained trust, distribution policy) on the on the enlarged issued capital created by this increased capital (interests) issue.

Part 2 - Bonus issue or pro rata issue

11	security holder approval N/A Is required?
12	Is the issue renounceable or non- N/A renounceable?
13	Ratio in which the "securities will N/A be offered
14	Class of securities to which the N/A offer relates
15	*Record- determine N/A date 10 1 entitlements
16	Will holdings on different registers N/A (or subregisters) be aggregated for calculating entitlements?
17	Policy for deciding entitlements in N/A relation to fractions
18	Names of countries in which the N/A entity has *security holders who will not be sent new issue documents
	Note: Security holders must be told how their entitlements are to be dealt with.
	Cross reference: rule 7.7.
19	Closing date N/A for receipt оf acceptances or renunciations

$+$ See chapter 19 for defined terms.

Appendix 3B New issue announcement

20	Names of any underwriters	N/A
21	Amount of any underwriting fee or	N/A
	commission
22	Names of any brokers to the issue	N/A
23.	Fee or commission payable to the	N/A
	broker to the issue
24.	Amount of any handling fee payable	N/A
	to brokers who lodge acceptances
	renunciations on behalf of Ωr *security holders
25.	If the issue is contingent on *security holders' approval, the date	N/A
	of the meeting
26	Date entitlement and acceptance form and prospectus or Product	N/A
	Disclosure Statement will be sent to
	persons entitled
27.	If the entity has issued options, and	N/A
	the terms entitle option holders to participate on exercise, the date on
	which notices will be sent to option
	holders
28	Date rights trading will begin (if	N/A
	applicable)
29.	Date rights trading will end (if	N/A
	applicable)
30	How do *security holders sell their	N/A
	entitlements in full through a
	broker?
31	How do *security holders sell part	N/A
	of their entitlements through a
	broker and accept for the balance?

⁺ See chapter 19 for defined terms.

How do *security holders dispose of $N/A$ 32 their entitlements (except by sale through a broker)?

33 *Despatch date

$\frac{1}{2}$ $\Big ^{N/A}$

$N/A$

Part 3 - Ouotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• $(a)$ Securities described in Part 1 $(b)$ All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the "securities are "equity securities, the names of the 20 largest holders of the additional *securities, and the number and percentage of additional *securities held by those holders
• If the *securities are *equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5.001 - 10.000$ $10,001 - 100,000$ 100,001 and over

37

A copy of any trust deed for the additional *securities

⁺ See chapter 19 for defined terms.

Entities that have ticked box 34(b)

38	Number of securities for which *quotation is sought	N/A
39	of "securities Class for which quotation is sought	N/A
40.	Do the securities rank equally in all respects from the date of allotment with an existing class of quoted *securities?	N/A
	If the additional securities do not rank equally, please state: the date from which they do ٠ extent to which the they participate for the next dividend, the (in case оf trust. $\mathbf{a}$ distribution) or interest payment the extent to which they do not $\bullet$ rank equally, other than in relation to the next dividend. distribution or interest payment
41	Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of	N/A
	another security, clearly identify that other security)
42	Number and class of all securities quoted on ASX (including the securities in clause 38)	Number N/A	* Class N/A

⁺ See chapter 19 for defined terms.

Ouotation agreement

• *Quotation of our additional *securities is in ASX's absolute discretion. ASX may $\mathbf{I}$ quote the *securities on any conditions it decides.
• $\overline{\mathcal{L}}$ We warrant the following to ASX.
• The issue of the *securities to be quoted complies with the law and is not $\bullet$ for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the 'securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any "securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.

$+$ See chapter 19 for defined terms.

• $\mathfrak{Z}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• $\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before *quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here: ...................................... Company Secretary

Print name: Peter Turvey

$\overline{\text{min}} \ \overline{\text{min}} \ \overline{\text{min}} \ \overline{\text{min}} \ \overline{\text{min}} \ \overline{\text{min}} \ \overline{\text{min}}$

$+$ See chapter 19 for defined terms.