CVC LIMITED — Director's Dealing 2004

Oct 26, 2004

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

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 30/9/2001.

Name of entity	CVC Limited
ABN	34 002 700 361

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Alexander Damien Beard
Date of last notice	8 October 2004

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notiliable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	27 October 2004
No. of securities held prior to change	1,287,136 Ordinary shares held by Alexander Damien Beard 63,000 shares held by Pascale Beard
Class	Ordinary
Number acquired	1,000,000 (Direct)
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$1,150,000
No. of securities held after change	2,287,136 Ordinary shares held by Alexander Damien Beard 63,000 shares held by Pascale Beard

⁺ See chapter 19 for defined terms.

Nature of change	Issue in accordance with terms of CVC
Example: on-market trade, off-market trade, exercise of options, issue of	Limited Executive and Non-Executive Long
securities under dividend reinvestment plan, participation in buy-back	Term Incentive Plan.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation. to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation.
Interest after change

⁺ See chapter 19 for defined terms.