CSL Ltd. — Share Issue/Capital Change 2007

Sep 13, 2007

For immediate release 14 September 2007

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Proposed 3 for 1 Share Split

As previously announced, CSL Limited (the Company ) is proposing to subdivide its issued capital on the basis that every one (1) fully paid ordinary share (each a Share ) be subdivided into three (3) fully paid ordinary shares (the Share Split ), and that options and performance rights on issue be adjusted in accordance with the Listing Rules.

The Share Split is intended to benefit shareholders by increasing the liquidity and affordability to retail investors of the Shares.

If approval is given at the Annual General Meeting ( AGM ) to be held on 17 October 2007, each existing Share will be split into three Shares with effect from 7.00pm (Melbourne time) on 24 October 2007, and each option and performance right on issue at that time under the company's employee equity plans will be split into three, and the exercise price (if any) will decrease by a factor of three.

Immediately after the Share Split, each shareholder will still hold the same proportion of the Company's total number of Shares as immediately before the Share Split.

Based on the number of Shares, options and performance rights on issue as at 1 September 2007, the Share Split would result in the total number of:

• Shares increasing from 183,203,042 to 549,609,126; and

• Options, performance rights and performance options on issue under the Company's employee equity plans increasing from 1,565,470 to 4,696,410.

Timetable

After the Share Split becomes effective, the Company will despatch notices to Shareholders, optionholders and performance rights holders advising them of the number of Shares, options or performance rights (as applicable) held by them both before and after the Share Split. The Company will also arrange for new holding statements to be issued to shareholders, optionholders and performance rights holders in accordance with the requirements of the ASX Listing Rules.

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Page 2

14 September 2007

If the Share Split is approved by shareholders the following timetable will apply:

Date of AGM. Last day of trading Shareson a pre-Share Split basis.	17 October 2007
Trading commences in the post-Share SplitShares on a deferred settlement basis.	18 October 2007
Last day for the Company to registertransfers on a pre-Share Split basis. ShareSplit effective at 7.00pm (Melbourne time).	24 October 2007
First day for the Company to registersecurities on a post-Share Split basis.	25 October 2007
Despatch date for notice to shareholdersand new holding statements. Deferredsettlement trading ends.	31 October 2007

For further information please refer to the Notice of AGM.

Peter Turvey Company Secretary 14 September 2007

For more information about CSL Limited, visit www.csl.com.au

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