CVC LIMITED — Major Shareholding Notification 2006

Apr 9, 2006

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	CVC LIMITED
ACN/ARSN	002 700 361
1. Details of substantial holder (1)
Name	452 Capital Pty Limited
ACN/ARSN (if applicable)	101 924 430
The holder ceased to be a substantial holder on		5 April 2006
The previous notice was given to the company on		13 December 2005
The previous notice was dated		7 December 2005

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change $(4)$	Consideration given in relation to change $(5)$	Class (6) and number of securities affected	Person's votes affected
	Refer Annexure "A"

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme area as follows:

Name and ACN/ARSN (if applicable)	Nature of Association
N/A

4. Addresses

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

Name	Address
452 Capital Pty Limited	Level 26 Australia Square, 264-278 George
	Street Sydney NSW 2000

Signature

print name Rebecca O'Donnell

capacity Secretary

sign here

date 10 / 4 / 06

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation $(1)$ and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interest of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.
• $(2)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(3)$ See definition of "associate" in section 9 of the Corporations Act 2001.
• Include details of: $(4)$
• any relevant agreement or other circumstances because of which the change in relevant $(a)$ interest occured. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the $(b)$ exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).
• See the definition of "relevant agreement" in section 9 of the Corporations Act 2001. $(5)$
• Details of the consideration must include any and all benefits, money and other, that any persons from $(6)$ whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• The voting shares of a company constitute one class unless divided into separate classes. $(7)$
• $(8)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

This is an annexure referred to in Form 605 - Notice of ceasing to be a substantial shareholder dated 5 April 2006

ANNEXURE A

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of Change	Person whose		Nature of Change Consideration given in	Class (6) and number of	Person's votes affected
	relevant interest	141	relation to change (5)	securities effected
	changed			(ordinary shares)
	the first that the state of the state of the state of the state of the state of the state of the state of the		in the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contract of the contrac	unless stated)
3/04/2006	452 Capital Pty Ltd	OS-SAL	(145.768.00)	(95,900.00)	(95,900.00)
5/04/2006	453 Capital Ptv Ltd	OS-SAL	(343.434.25)	(239.327.00)	(239.327.00)

Print Name: Rebecca O'Donnell Sign Here:

Capacity: Secretary 10/4/06 Date: