ELDERS LIMITED — Major Shareholding Notification 2008

Feb 5, 2008

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To: Futuris Corporation Limited ACN: 004 336 636 ASX Code: FCL

1. Details of substantial holder

Name: IOOF Holdings Limited ACN: ACN 100 103 722

This notice is given by IOOF Holdings Limited on behalf of itself and its subsidiaries.

There was a change in the interest of the substantial holder on: 05/02/08 The previous notice was given to the company on: 12/10/07 The previous notice was dated: 11/10/07

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate had a relevant interest in when last required and when now required to give a substantial holding notice to the company or scheme, are as follows:

Class of securities Ordinary	Previous notice	Previous notice	Present notice	Present notice
	Person's votes	Voting Power	Person's votes	Voting Power
	46,988,111	6.386%	39,195,175	5.183%

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3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate 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	Person	Nature	Consideration	Class & number **(ord) **	Person's votes
12/10/2007	Perennial Value Management Limited(ACN090 879 904)	Purchased on market	$ 2,597,870.32	1,264,656	1,264,656
15/10/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 102,781.90	50,000	50,000
16/10/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 1,706,471.16	833,884	833,884
17/10/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 2,142,538.01	1,055,239	1,055,239
18/10/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 3,043,190.37	1,508,216	1,508,216
19/10/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 3,579,576.53	1,800,270	1,800,270
22/10/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 5,091,558.96	- 2,561,888	- 2,561,888
23/10/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 28,437.71	13,448	13,448
24/10/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 2,388,145.88	1,202,115	1,202,115
31/10/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 850.32	- 415	- 415
2/11/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 4,911.83	2,345	2,345
7/11/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 584.01	272	272
8/11/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 1,427,902.41	- 676,731	- 676,731
9/11/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 1,798,060.35	- 848,104	- 848,104
13/11/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 133,938.17	62,848	62,848
14/11/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 1,319.36	- 611	- 611
26/11/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 3,244.80	- 1,560	- 1,560
28/11/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 1,154.65	549	549
30/11/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 2,219.90	- 1,080	- 1,080
3/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 0.00	-	-
5/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 406,396.10	- 198,242	- 198,242
7/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ -	-	-
10/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 7,318.08	- 3,388	- 3,388

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11/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 28,123.20	- 13,020	- 13,020
17/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 622,356.62	- 295,531	- 295,531
19/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 2,156.78	- 1,035	- 1,035
20/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 1,549,726.50	- 700,000	- 700,000
21/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 1,632,834.40	- 750,762	- 750,762
27/12/2007	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 1,428.10	669	669
2/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 241.59	112	112
9/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 4,110.80	- 1,912	- 1,912
10/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 1,226,183.96	- 566,614	- 566,614
11/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 54,100.80	- 25,000	- 25,000
14/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 3,356,261.82	- 1,537,324	- 1,537,324
15/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 3,809,935.36	- 1,729,351	- 1,729,351
16/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 1,408,299.07	- 628,949	- 628,949
17/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 2,857,982.91	- 1,224,417	- 1,224,417
18/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 2,587,596.18	- 1,121,991	- 1,121,991
23/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 2,516.61	1,135	1,135
25/01/2008	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$ 372,619.96	168,403	168,403
4/02/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 1,039,589.66	- 453,233	- 453,233
5/02/2008	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$ 5,541,619.82	- 2,415,939	- 2,415,939

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4. Present Relevant Interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

are as follows:
Holder	Registered holder of securities	Person Entitled to be holder	Nature of relevant interest	Class & Number (Ord)	Person's votes
Perennial Value Management Limited (ACN 090 879 904)	Westpac Custodian Nominees		Investment Manager	600,318	600,318
Perennial Value Management Limited (ACN 090 879 904)	State Street		Investment Manager	3,908,926	3,908,926
Perennial Value Management Limited (ACN 090 879 904)	NAB Custodian Services		Investment Manager	17,659,580	17,659,580
Perennial Value Management Limited (ACN 090 879 904)	JP Morgan		Investment Manager	8,040,682	8,040,682
Perennial Value Management Limited (ACN 090 879 904)	JB WERE		Investment Manager	230,634	230,634
Perennial Value Management Limited (ACN 090 879 904)	Citigroup		Investment Manager	5,982,728	5,982,728
Perennial Value Management Limited (ACN 090 879 904)	BNP		Investment Manager	2,712,266	2,712,266
Perennial Value Management Limited (ACN 090 879 904)	ASGARD		Investment Manager	37,646	37,646
IOOF Investment Manger Limited ACN 006 695 021	NAB Custodian Services		Investment Manager	2,395	2,395
Michael Crivelli	Perpetual Trustee		IOOF Holdings Associate	20,000	20,000

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5. Changes in association

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

Name & ACN Nature of association

6. Addresses

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

Name	Address
IOOF Holdings Limited	Level 29, 303 Collins Street Melbourne Victoria 3000
IOOF Investment Management Limited	Level 29, 303 Collins Street Melbourne Victoria 3000
Perennial Value Management Limited	Level 29, 303 Collins Street Melbourne Victoria 3000
Michael Crivelli	C/OLevel 29, 303 Collins Street Melbourne Victoria 3000