L1 GROUP LIMITED — Director's Dealing 2011

Mar 31, 2011

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity Platinum Asset Management Limited

ABN 13 050 064 287

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	P Howard
Date of appointment	31-03-11

Part 1 - Director’s relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Number & class of securities

Options 841,500 Exercisable 22-05-11 to 22-05-13 @ $5.00 856,898 Exercisable 17-06-13 to 17-06-15 @ $4.50

• See chapter 19 for defined terms.

Appendix 3X Page 1

11/3/2002

Appendix 3X Initial Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

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Name of holder & nature of interest Number & class of Securities
Note: Provide details of the circumstances giving rise
to the relevant interest.
Platinum Investment Management Ordinary shares
Limited as nominee for Votraint No. 104,281
899 Pty Limited. Votraint No. 899
Pty Limited. P Howard is a director
of Votraint No. 899 Pty Limited.
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Part 3 – Director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) No. and class of securities to which interest relates

• See chapter 19 for defined terms.

Appendix 3X Page 2

11/3/2002