ILUKA RESOURCES LIMITED — Major Shareholding Notification 2005

Apr 18, 2005

ASX Notice

$;$ $6$ $|$ $0₂$ 92256953

Merrill Lynch (Australia) Pty Limited ACN 000 890 451 Level 38 Governor Philip Tower 1 Farrer Place SYDNEY NSW 2000 AUSTRALIA

FACSIMILE TRANSMISSION SHEET

DATE: 18 April 2005

$19 - 04 - 05$ ; $15:58$

€

TO: Company Announcements

; Merrill Lynch

FAX: 1900 999 279

FROM: Paul Szalajko

AT: OFFICE OF GENERAL COUNSEL - AUSTRALIA

PHONE: $(612)$ 9225 6509

FAX: $(612)$ 9225 6953

NO OF PAGES: 6

RE:

$\sim$ 100 $\sim$

Substantial Shareholder Notice - Iluka Resources

CONFIDENTIALITY NOTE: THE INFORMATION CONTAINED IN THIS FACSIMILE IS PRIVILEGED AND CONFIDENTIAL AND INTENDED ONLY FOR THE USE OF THE ADDRESSEE NAMED ABOVE. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT, YOU

		603	page 1/2 15 July 2001
	Form 603
	Corporations Act 2001 Section 671B
	Notice of initial substantial holder
To_ Company Name/Scheme	I luka Resources Vimited
ACN/ARSN
1. Details of substantial holder (1) Name ACN/ARSN (if applicable)	$G_{\alpha}$ Merrill Kyml 2
The holder became a substantial holder on	†114 105

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2. Details of voting power

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; Merrill Lynch

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 (2) had a relevant interest (3) in on the date the substantial holder

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ord.iani	3.90447

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate 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 (7)	Class and number of securities
See Appendix 1
	1.1.1

4. Details of present registered holders

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

$\bar{z}$

Holder of relevant interest	Registered holder of securities	Ferson entitled to be registered as holder (8)	Class and number of securities
$2$ $2$ $4$ $2$ $2$

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 interest	Date of acquisition	Consideration (9)	------	Class and number of securities
600 Appartix 3		Cash	Non-cash

$\sim$ $\sim$

603 page 2/2 15 July 2001

92256953

6. Associates

t,

$(\rightarrow$

The reasons the persons named in paragraph 5 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
Jee Appendix 4

7. Addresses

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

Name	Address
See Appendix &
_________

Signature

• $\left( 1\right)$ If there are a number of substantial holders with similar or related relevant interests (eg. a corporation 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 interests 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 7 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$

$(7)$ Include details of:

• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out
  the terms of any relevant agreement, and a statement by the perso $\ddot{\textbf{a}}$ 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 exercise of, the voting powers or disposal of the securities to Ф) 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.

• $(8)$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown",
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become (9) 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 or 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.

Form 603 - Merrill Lynch as Initial Substantial Holder of Iluka Resources Limited

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Appendix 1 - [item 3]

; Merrill Lynch

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$\bar{z}$

$\overline{\mathbb{C}}$ :

$\overline{C}$

Holder of relevant interest	Nature of relevant interest	Class and number of securities
Merrill Lynch & Co., Inc.	Beneficial Owner (deemed interest from its associates)	Ordinary share 13,911,447
Merrill Lynch International	- ditto -	Ordinary shares 160,081 (Appendix 1a)
Merrill Lynch Investment Managers Group	- ditto -	Ordinary shares 13,751,366

Appendix la - [item 3]

Collateral received	Number of shares	Loan value
Collateral received	Abbendix 3a	Annendix 3a

Appendix 2 - [item 4]

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder	Class and number of securities
Merrill Lynch & Co Inc	Deemed interest from its associates	N/A	Ordinary shares 13,911,447
Merrill Lynch International	Merrill Lynch International	N/A	Ordinary shares 160,081
Merrill Lynch Investment Managers Group	Merrill Lynch Investment Managers Group	N/A	Ordinary shares 13,751,366

Appendix 3 - [item 5]

Holder of relevant interest	Date of acquisition	Consideration	Class and number of securities
Merrill Lynch International	Appendix 3a	Appendix 3a	Ordinary shares 160,081
Merrill Lynch Investment Managers Group	Appendix 3a	Appendix 3a	Ordinary shares 13,751,366

Appendix $4 - [item 6]$

Name and ACN/ARSN (if applicable)	Nature of association
Merrill Lynch & Co Inc	Ultimate holding company
Merrill Lynch International	Subsidiary of Merrill Lynch & Co
Merrill Lynch Investment Managers Group	Subsidiary of Merrill Lynch & Co

Appendix 5 - [item 7]

Name	Address
Merrill Lynch & Co Inc	4 World Financial Center, North Tower, 250 Vessey Street, New York, New York 10281
Merrill Lynch International	Merrill Lynch Financial Centre, 2 King Edward Street, London EC1A 1HQ
Merrill Lynch Investment Managers Group	4 World Financial Center, North Tower, 250 Vessey Street, New York, New York 10281

4 - Month Transaction Histroy
Period: 10 Dec 2004 - 11 April 2005

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lluka Resources Limited (ILU) - Sedol 695757
Date of the commitment of the commitment of the commitment of the commitment of the commitment of the commitment of the commitment of the commitment of the commitment of the commitment of the commitment of the commitment o

ASX Notice

$\frac{1}{2}$ (3 1 0 2 9 2 2 5 6 9 5 3 6 9 5 2 6 $\frac{1}{2}$ 6 7 6

Appendix 3a.

Date of	Iluka Resources Limited (ILU) - Sedol 6957575
Acquisition	Transaction	Loan Value / Consideration	Price	No of Shares	No of Shares Balance
	Stock Loans - Merrill Lynch International		brought forward		$-95,403$
14/12/2004	Return	0	o	-38000	-57,403
$-14/12/2004$	Borrow	15,734,25	5.67	2775	-60,178
17/12/2004 20/12/2004	Borrow Borrow	7,086.44 5737.68	5.90 6.13	1189	-61,367
21/12/2004	Borrow	717496,16	6,20	936 14616	-62,303 -176,919
22/12/2004	Borrow	31 500.00	6.30	5000	-181,919
22/12/2004 22/12/2004	Return	0	0	-5000	$-176,919$
30/12/2004	Return Borrow	0 31 550,00	0 6.31	-5000 5000	-171,919
5/01/2005	Return	0	0	-100000	-176,919 -76,919
5/01/2005	Return	$\Omega$	0	-95000	18,081
12/01/2005 13/01/2005	Borrow Borrow	189,600.00 126,800.00	6.32	30.000	$-11,919$
18/01/2005	Borrow	315,000,00	6.34 6.30	20.ODD 50000	$-31,919$ -81,919
4/02/2005	Borrow	64 300 00	6.43	10000	-91,919
9/02/2005	Borrow	520,800.00	6.51	80.000	-171,919
10/02/2005 10/02/2005	Borrow Borrow	97,200.00 388,800.00	6.48 6 48	15.000	-186,919
11/02/2005	Return	0	o	60,000 -5000	-246,919 -241,919
14/02/2005	Return	o	0	$-10000$	$-231,919$
18/02/2005 21/02/2005	Return	0	0	-20000	$-211,919$
22/02/2005	Borrow Return	41,020.00 0	5.86 0	7000 -7000	$-218,919$
23/02/2005	Return	0	0	-50000	-211,919 -161,919
23/02/2005	Return	0	0	-18456	$-143,463$
28/02/2005 1/03/2005	Return Return	٥ 0	0 0	$-25000$	$-118,463$
2/03/2005	Return	0	0	$-25000$ -55000	$-93,463$ -38,463
2/03/2005	Borrow	57.000.00	5.70.	10,000	-48,463
3/03/2005 7/03/2005	Return	٥	0	$-3000$	-45,463
22/03/2005	Return Borrow:	0 239,600,00	0 599	-7000 40,000	-38,463
22/03/2005	Return	0	0	-40000	78,463 -38,463
22/03/2005	Borrow	239,600.00	5.99	40.000	-78,463
23/03/2005 30/03/2005	Borrow Return	114 000 00	5.70	20,000	-98,463
30/03/2005	Return	0 0	٥ 0	-15000 $-32000$	-83,463
30/03/2005	Retum	Ω	0	-60000	$-51,463$ 8,537
6/04/2005	Return	0	O	-24544	33,081
12/04/2005	Borrow	762.000.00	6:00	27,000	160,081
		Iluka Resources Limited (ILU) - Sedol 6957575
Date -	Transaction	Consideration (AUSS) INTERF	Price	No of Shares Market	No of Shares Balance
Merrill Lynch Australia Futures Ltd			brought forward
14/01/2005 17/01/2005	Buy Sell	55 270.05	6.30	8769	B,769
27/01/2005	Buy	-55 070.33 376,850.06	6.28 6.17	$-8769$ 61102	61,102
27/01/2005	Buy	62,482.62	6.38	9800	70,902
27/01/2005	Sell	-23,817.41	6.36	$-3746$	67,156
28/01/2005	Buy	106,760.52	6.30	16950	84,106
7/02/2005 10/02/2005	Buy Buy	73,811.14 130,035.00	6.53 6.50	11300	95,406
16/02/2005	Sell	-656,013.28	5.68	20000 -115406	115,406 0
30/03/2005	Sell	-54,583.62	5,46	-10000	$-10,000$
31/03/2005	Buy	55,716.71	5.57	10000
8/04/2005 11/04/2005	Buy Sell	54,507.38 -54,656.57	5.99	9097	9,097
			6.01	-9097 羂
Merrill Lynch Equities (Australia) Ltd 10/12/2004	Buy	22.600	brought forward		0
10/12/2004	Sell	-22 564	5.65 5.64	4,000 $-4,000$	4,000 0
15/12/2004	Buy	848,826	5.63	150,680	150,680
15/12/2004	Seil	-848 328	5.63	-150,680	0
20/12/2004 20/12/2004	Buy	863 778	6.08	142,053	142.053
20/12/2004	Buy Sel	355 735 -1,224,000	6.14 6.12	57,947 $-200,000$	200,000 0
20/01/2005	Buy	94700	6.31	15000	15,000
20/01/2005	Sell	-63200	6.32	-10000	5,000
20/01/2005	Buy	6.32	6.32	1	5.001
21/01/2005 21/01/2005	Sell Buy	-153420 123000	6.14 6.15	-25000 20000	-19,999
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24/01/2005	Sell	$-6.14$	6.14	-1	0
28/01/2005	Buy	5563547.79	6.29	884722	884,722
28/01/2005	Sell	-5513354.85	6.29	$-876722$	8,000
28/01/2005	Sell	-50294.84	6.29	-8000	0
1/02/2005	Buy	4446.24	6.28	708	708
2/02/2005	Sell	$-4481.64$	6.33	$-708$	0
1/02/2005	Buy	1269997.4	6.35	200000	200,000
1/02/2005	Sell	-1269850	6.35	$-200000$	0
2/02/2005	Buy	59250	6.32	9375	9,375
2/02/2005	Sell	-59250	6.32	-9375	0
3/02/2005	Buy	37800	6.30	6000	6,000
B/02/2005	Sell	-39720	6.62	-6000
17/02/2005	Sell	-594750	5.95	$-100000$	$-100,000$
17/02/2005	Buy	594000	5.94	100000	0
18/02/2005	Buy	590507.84	5.89	100256	100,256
21/02/2005	Sell	-590507.84	5.89	-100256	$\mathbf{0}$
30/03/2005	Sell	$-64464.4$	5.72	$-11270$	$-11,270$
30/03/2005	Buy	117655,65	5.53	21270	10,000
30/03/2005	Sell	54600	5.46	$-10000$	O
7/04/2005	Sell	-121336,81	5.86	$-20707$	$-20,707$
7/04/2005	Buy	121336.81	5.86	20707
7/04/2005	Buy	940135,95	5.85	160707 .	160,707
7/04/2005	Sell	-938195.91	5.86	$-160000$	707
8/04/2005	Sell	-4171.3	5,90	-707 ∰	- 0
		Various Discretionry Accounts - Merrill Lynch Investment Group, Australia		brought forward	267,549
8/12/2004	Sell	1,000.126	5.76	-173,633	93,916
9/12/2004	Sell	380.624	5.65	$-67,367$	26,549
1/02/2005	Buy	492,030	6,39	77,000	103,549
16/02/2005	Sell	415 370	5.69	$-73,000$	30,549
5/04/2005	Sell	23 3 20	5.83	-4,000 \$	26,549
	Various Discretionary Accounts - Merrill Lynch Investment Group, US			brought forward	137,792
23/12/2004	Sell	$-39,256.46$	6.26	$-6,271$	131,521

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Various Discretionary Accounts - Merrill Lynch Investment Group, US				brought forward	137,792
23/12/2004	Sell	$-39,256.46$	6.26	$-6,271$	131,521
4/01/2005	Buy	2.386.40	6.28	380	131 901
19/01/2005	Sell	$-61.599.90$	6.42	$-9,595$	122,306
31/01/2005	Sell	$-166.253.08$	6.26	$-26,558$	95.748
17/03/2005	Buy	2,038.95	5.91	345	96,093
17/03/2005	Sell	$-2,159.70$	6.26	95,748 $-345$
Various Discretionary Accounts - Merrill Lynch Investment Group, Europe and Asia				brought forward	10,649.250
13/12/2004	Buv	511.074.00	5.68	90,000	10,739,250
14/12/2004	Buy	141,890,00	5.68	25,000	10,764.250
17/12/2004	Buy	587,950.00	5.88	100,000	10,864,250
20/12/2004	Buy	611,590.00	6.12	100,000	10,964.250
17/01/2005	Buy	1,266,000,00	6,33	200,000	11,164,250
17/01/2005	Buy	253,200.00	6.33	40,000	11,204,250
19/01/2005	Buv	3,304,211.31 $\mathcal{P}{\mathcal{T}}^{\mathcal{G}{\mathcal{F}}}$	6.42	514,819	11,719,069
28/01/2005	Buy	1,572,750.00	6.29	250,000	11,969,069
31/01/2005	Buv	666,424.50	6.35	105,000	12,074.069
1/02/2005	Buy	4,119,550.50	6.39	645,000	12,719,069
30/12/2004	Buy	631,740.00	6.32	100,000	12,819,069
17/03/2005	Buy	1,629,666.00	6.04	270,000	13,089,069
17/03/2005	Buv	1,599,129.00	5.92	270,000	13,359,069
18/03/2005	Buy	1,590,921.00	5.89	270,000	13,629.069

$\sim$