ILUKA RESOURCES LIMITED — Major Shareholding Notification 2003

Jan 6, 2003

07/01/03

Telephone +61 02 9272 2378 Facsimile +61 02 9278 5378 elaine.cheung@barclaysglobal.com

PERFORMANCE THROUGH INNOVATION BARCLAYS GLOBAL INVESTORS

Tη	ASX / Iluka Resources Limited
Fax Number	1300 300 021 / 08 9221 7744
From	Elaine Cheung
	Compliance Manager
Total Pages	$4$ (incl.)
Date	7 January 2003
Subject	Notice of initial substantial holder - Iluka Resources Limited

ASX Company Announcements Attention: Company Secretary, Iluka Resources Limited

Please find attached the following in relation to Iluka Resources Limited:

• Form 603 Notice of initial substantial holder; and $\mathbf{i}$ .
• ii. "Annexure A".

Yours sincerely

zeofal

Elaine Cheung Compliance Manager Barclays Global Investors Australia

Barclays Global Investors Australia Limited ABN 33 001 804 566

Level 1, 111 Harrington Street, Sydney, NSW 2000 P.O. Box N43 Grosvenor Place, NSW 1220

The information contained in this facsimile is intended only for the use of the recipient named above. This facsimile may contain privileged, confidential or undisclosed information. If the reader of this facsimile is not the intended recipient or an agent responsible for delivering it to the intended recipient, you are hereby notified that you have received this facsimile in error, and that any review, dissemination, distribution or copying of it is strictly prohibited. If you have received this in error, please notify us immediately by talephone (call us collect at the telephone number set forth above) and return the original transmittel to us by mail. Thank you for your cooperation.

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

Huka Resources Limited To 008 675 018 ACN/ARSN

1. Details of substantial holder

Barclays Group ("Barclays") Name 33 001 804 506 (Barclays Global Investors Australia Limited) ABN

The holder became a substantial holder on 06/01/03.

2. Details of 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 an associate had a relevant interest on the date the substantial holder became a substantial holder are as follows:

Class of securities	Number of securities	Person's votes	Voting power
Ordinary	13,668,957 ---	13.668.957	5.87%

3. Details of relevant Interests

The nature of the relevant interest the substantial holder had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest	Class and number of securities
Barclays	Fund Manager	13,668,957 ordinary
__	– see Annexure A

4. Details of present registered holders

The persons registered as holder of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Class and number of securities
Barclays	JP Morgan & other custodians	13,668,957 ordinary
	– see Annexure A

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows.

Holder of relevant	Date of acquisition	Consideration	Class and number of
merest		Cash/Non-cash	securities
Barclays	Past 4 months	Av price \$4.56	13,668,957 ordinary

Ť $\frac{1}{2}$

$\bar{z}$

6. Addresses

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

Name	Address
Barclays	1/111 Harrington Street, Sydney NSW 2000____

Signature

Hab

$7/1/03$

$\overline{\mathsf{Date}}$

$\bar{\bar{z}}$

Christopher Robson Company Secretary
Barclays Global Investors Australia

This is "Annexure A" of 1 page referred to in Form 603 Notice of initial substantial holder

Relevant Interest in liuka Resources Limited held by the Barclays Group ("Barclays").

The list of Barclays entities and their respective holdings are as follows:

ASX CODE	STOCK NAME	HOLDING	$\gamma_0$	COMPANY
			0.0884	Barclays Global Investors Japan Trust & Banking Co
ILU	ILUKA RESOURCES	205,813		Ltd
ILU	ILUKA RESOURCES	13,434	0.0058	Barclays Nikko Global Investors (Japan) Ltd
ILU	ILUKA RESOURCES	1,524,113	0.6547	Barclays Global Investors Ltd
ILU	ILUKA RESOURCES	133,456	0.0573	Barclays Life Assurance Co Ltd
ILU	ILUKA RESOURCES	2,511,925	1.0789	Barclays Global Investors NA
ILυ	ILUKA RESOURCES	71,627	0.0308	Barclays Global Fund Advisors
ILU	ILUKA RESOURCES	484 714	0.2082	Barclays Capital Securities Ltd
ILU	ILUKA RESOURCES	8,723,875	3.75	Barclays Global Investors Australia Ltd
		13,668,957	5.8741

The JP Morgan Chase Bank Inc. and various other custodians (Custodians) hold shares in lluka Resources Limited (Iluka) as custodian and for which Barclays is either:

• the responsible entity or trustee of pooled investment products such as registered managed investment schemes (Funds); or
• the investment manager of Portfolios held for a number of institutional investors. The institutional investors $\bullet$ are generally superannuation funds regulated under the Superannuation Industry Supervision Act 1993.

The holding of shares in Iluka was acquired as part of the wide portfolio of Australian shares and units acquired for the Funds and the Portfolios.

Barclays and the Custodians may hold relevant interests due to the capacity of these entities to dispose of the shares in lluka.

Each investor in a Fund owns an undivided interest in the Fund's assets, no client directly owns any asset of the Fund. The unitholding of each Fund varies from time to time as clients enter and withdraw from the Funds. The various institutional investors with portfolios delegate the management of the portfolios to Barclays.

$7/1/93$

Christopher Robson Company Secretary Barclays Global Investors Australia