L1 GROUP LIMITED — Major Shareholding Notification 2007

May 24, 2007

	Form 604
	Corporations Act 2001 Section 671B
	Notice of change of interests of substantial holder
To Company Name/Scheme	PLATINUM ASSET MANAGEMENT LIMITED
ACN/ARSN	ACN 050 064 287
1. Details of substantial holder(1)
Name	NEILSON งีบดเา ท PATRICIA LYDIA
ACN/ARSN (if applicable)	NA
There was a change in the interests of the substantial holder on	24/5/07
The previous notice was given to the company on The previous notice was dated	25/6/07 25/5/07

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

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting cower (5)	Person's votes!	Voting power (5)
ORDINARY	!}ጋራርገቶ ይቶ!	58.12%	323.074,841	57.59%

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

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change $(7)$	Class and number of securities affected	Person's votes affected
23/5/07	NEILSON KERE JUDITH NEILSON	నలఒం	ま 8465 , 072. 77	ORDINARY 1,000,000	325074.84/
124/5/07	NEILSON KERA אדו סיום NEILIGN	SOLO	\$16,975,595.06	ORDINARY	2,000,000,323,074,841

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant. interest (6)	Class and number of securities	Person's votes
KER K NELSON"	TLONA PATRICIA	JUDITH PATRICIA LYOR NEILSON	TAKENVNDER SEL 608(1)	ORDINARY 323.0"M.BH	323.074.841

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 (if /	Nature of association __
--------------------------------------- .	~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Property property _________

6. Addresses

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

Name	tdares.
NEILSON	MIDOLE ST MCMAHONS POINT NSW 2060
E NEILBON	29 MIDOLE ST MCMAHONS POINT NEW

Signature

print name	KERR NEILSON and website the first	сазаску
sign here		date $25/5$ / $07$ .

DIRECTIONS

• 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 $\left( 1\right)$ 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 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $\mathfrak{g}$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

Include details of: 倘

• 倒 any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany 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 O) 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.

• $\sigma$ 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, becomie 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 on 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.
• $(3)$ If the substantial holder is unable to determine the identity of the person (eq. if the relevant interest arises because of an option) write "unknown".
• ${9}$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

GUIDE This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 604.