CVC LIMITED — Director's Dealing 2004

Oct 17, 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	9 September 2003

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	Indirect and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	CVC Investment Managers Pty Ltd
Date of change	8 October 2004
No. of securities held prior to change	287,136 Ordinary shares held by Alexander Damien Beard 63,000 Ordinary shares held by Pascale Beard 14,313,307 Ordinary shares held by CVC Investment Managers Pty Ltd
Class	Ordinary
Number acquired	1,000,000 (Direct)
Number disposed	20,704,611 (Indirect)
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$1,150,000 market value of shares acquired for non-arm's length transaction \$23,810,302 market value of shares indirectly disposed of.

$\div$ See chapter 19 for defined terms.

No. of securities held after change	1,287,136 Ordinary shares held by Alexander Damien Beard 63,000 shares held by Pascale Beard
Nature of change	Acquisition as grant and exercise of option.
Example: on-market trade, off-market trade, exercise of options, issue of	Disposal as does not control CVC Investment
securities under dividend reinvestment plan, participation in buy-back	Managers Pty Ltd as defined

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 "notiliable 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-eash, provide details and an estimated valuation
Interest after change

⁺ See chapter 19 for defined terms.