ILUKA RESOURCES LIMITED — Board/Management Information 2002

Nov 21, 2002

Facsimile

Date: 22 November 2002 Ref: SHR5

Company Announcements Office To: Company: Australian Stock Exchange 1300 300 021 Fax No: Pages: $\overline{2}$

ILUKA RESOURCES LIMITED

Ian Gregory From: Fax No: (08) 9221 7744 ian.gregory@iluka.com email:

Executive Management Team Restructure Subject:

Please find attached advice concerning a restructuring of Iluka Resources Limited's management team.

IAN G Compar etarv

021122 FAX ASX Executive Management:leg:nm

ILUKA RESOURCES LIMITED

Notice to the Australian Stock Exchange

22 November 2002

EXECUTIVE MANAGEMENT TEAM RESTRUCTURE

Iluka Resources Limited wishes to advise that Hamish Bohannan (Executive General Manager Australian Operations) and Geoff Weaver (Executive General Manager Human Resources) will be leaving the Iluka Group of Companies,

The Company is appreciative of their contribution and wishes them every success in their future endeavours.

As a result of these moves Iluka's executive management team's responsibilities have been modified as follows:

• Managing Director, Mike Folwell assumes interim responsibility for the Australian operations and environment, health and safety;
• . Geoff Allan an external consultant currently working with Iluka has been appointed as the interim Executive General Manager Human Resources; and
• Geoff Wedgwood, in addition to his existing responsibilities, will assume ongoing responsibility for community relations and government and indigenous affairs.

The Company will shortly commence an external search for candidates to fill both positions on a permanent basis.

Iluka does not anticipate that these changes will impact upon the Company's day-to-day Australian operations during the balance of 2002 or in the foreseeable future.

Production of titanium minerals and zircon from Iluka's Australian operations remain on target and provided there are no major disruptions to the shipping schedule, the Company expects to meet its stated 2002 full year profit target of A\$104 to A\$105 million.

Investment Community & Media contact:

Geoff Wedgwood Phone: +61 8 9221 7611 Mobile: 0409 997 256