MACMAHON HOLDINGS LIMITED — M&A Activity 2008

Sep 18, 2008

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19 September 2008

The Manager Company Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000

By Electronic Lodgement

Dear Sir

Macmahon Holdings Limited (ASX Code: MAH) – Takeover offer for Ausdrill Limited (ASX Code: ASL)

We attach a notice under section 630(3) of the Corporations Act 2001 (Cth).

Yours faithfully

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Katina Gunellas Company Secretary

Macmahon Holdings Ltd ABN 93 007 634 406 Level 3 263 Adelaide Terrace Perth WA 6000 PO Box 198 Cannington WA 6987 Telephone: (08) 9365 1111 Facsimile: (08) 9365 1186 Web: www.macmahon.com.au Email: info@macmahon.com.au

MACMAHON HOLDINGS LIMITED

NOTICE UNDER SECTION 630(3) OF THE CORPORATIONS ACT 2001 (Cth)

TO: ASX Limited

Ausdrill Limited ACN 009 211 474 ( Ausdrill )

Macmahon Holdings Limited ACN 007 634 406 ( Macmahon ) GIVES NOTICE under section 630(3) of the Corporations Act 2001 (Cth) that:

• (a) the offers dated 6 June 2008 ( Offers ) are free from the conditions described in section 5.1(b) (Foreign investment approval), section 5.1(f) (S&P/ASX 300 index) and section 5.1(g) (Change in control) of Appendix A to Macmahon's bidder's statement dated 22 May 2008 ( Bidder's Statement );

• (b) so far as Macmahon knows the remaining conditions set out in section 5.1 of Appendix A to the Bidder's Statement were not fulfilled as at the date of this notice; and

• (c) Macmahon's voting power in Ausdrill as at the time of giving this notice is 1.64%.

DATED 19 September 2008

ON BEHALF OF Macmahon Holdings Limited

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John Clarence Massey Director