KMD BRANDS LIMITED — Major Shareholding Notification 2012

Mar 15, 2012

Form 604 Corporations Act 2001 Section 671B

Notice of Change of Interests of Substantial Holder

To: Kathmandu Holdings Ltd

ACN/ARSN:

1. Details of substantial holder (s)

Name: FMR LLC and FIL ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on 14 March 2012 The previous notice was given to the company on 20 February 2012 The previous notice was dated 20 February 2012

20 February 2012 20 February 2012

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 (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

are as follows:
Class of Securities (4)	Previous Notice Person’s votes	Previous Notice Voting Power (5)	Present Notice Person’s votes	Present Notice Voting Power (5)
Common Stock	10,060,294	5.03%	12,119,444	6.06%

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 ofChange	Person whose relevant interest changed	Nature of change (6)	Considerat ion given in relation to change (7)	Class & No. of securities affected	Person’s votes affected
			AUS $	Common stock	Common stock
17 February2012	FMR LLC & FIL	MarketAcquisition	1.42	130,316	130,316
17 February2012	FMR LLC & FIL	Market Acquisition	1.43	195,474	195,474
21 February2012	FMR LLC & FIL	Market Acquisition	1.45	23,564	23,564
22 February2012	FMR LLC & FIL	Market Acquisition	1.46	80,831	80,831
23 February2012	FMR LLC & FIL	Market Acquisition	1.49	15,008	15,008
24 February2012	FMR LLC & FIL	Market Acquisition	1.51	23,172	23,172
27 February2012	FMR LLC & FIL	Market Acquisition	1.51	9,402	9,402
28 February2012	FMR LLC & FIL	Market Acquisition	1.53	600,000	600,000
29 February2012	FMR LLC & FIL	Market Acquisition	1.51	17,177	17,177

1 March 2012	FMR LLC & FIL	Market Acquisition	1.48	17,885	17,885
1 March 2012	FMR LLC & FIL	Market Acquisition	1.50	250,000	250,000
2 March 2012	FMR LLC & FIL	Market Acquisition	1.47	10,770	10,770
2 March 2012	FMR LLC & FIL	Market Acquisition	1.46	100,000	100,000
5 March 2012	FMR LLC & FIL	Market Acquisition	1.45	100,000	100,000
6 March 2012	FMR LLC & FIL	Market Acquisition	1.45	143,551	143,551
14 March 2012	FMR LLC & FIL	Market Acquisition	1.44	20,815	20,815
14 March 2012	FMR LLC & FIL	Market Acquisition	1.48	50,374	50,374
14 March 2012	FMR LLC & FIL	Market Acquisition	1.44	79,185	79,185
14 March 2012	FMR LLC & FIL	Market Acquisition	1.48	191,626	191,626
				Total Market Acquisitions	2,059,150
				Total Market Dispositions	0
				Overall Increase	2,059,150

4. Present relevant interests

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

llows:
Holder of relevant interest	Registeredholderofsecurities	Class and number ofsecurities
FMR LLC & FIL	FID FDS-AUSTRALIA POOL	983,600
FMR LLC & FIL	MLCINVESTMENTSLIMITED	557,102
FMR LLC & FIL	AUSTRALIANSUPER PTY LTD	1,533,735
FMR LLC & FIL	COLONIAL FIRSTSTATE AUSF 24	584,441
FMR LLC & FIL	RIOTINTO STAFFSUPER FUND	425,899
FMR LLC & FIL	FUND 232	825,672
FMR LLC & FIL	BARCLAYSAUSTRALIA FUND	38,809
FMR LLC & FIL	STATESUPER FINANCIALSERVICES	650,098
FMR LLC & FIL	FIDELITY AUSTRALIAN EQFUND	4,345,919
FMR LLC & FIL	FIL ACTIVE AUSTRALIAN EQUITY	2,174,169
**Total **	12,119,444	6.06%

5. Changes in Association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (ifapplicable)	Nature of association
FMR LLC	No change
FIL	No change

6. Addresses

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

Name	Address
FMR LLC	82 Devonshire Street,Boston,MA02109

PO Box HM 670, Hamilton HMCX, Bermuda

FIL

Sign Here ______ Dated 16 March 2012 Ryo Sato Assistant Manager, Regulatory Reporting Duly authorized under Powers of Attorney dated 2 June 2008 by Scott Goebel by and on behalf of FMR LLC, and their respective direct and indirect subsidiaries. Duly authorized under Powers of Attorney dated 4 August 2009 by Allan Pelvang by and on behalf of FIL Limited and their respective direct and indirect subsidiaries