MACMAHON HOLDINGS LIMITED — M&A Activity 2008

Aug 27, 2008

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28 August 2008

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

By Electronic Lodgement

Dear Sir,

Macmahon Holdings Limited (Macmahon) takeover bid for Ausdrill Limited (Ausdrill) – Acceptance Facility

As set out in section 5 of Macmahon's first supplementary bidder's statement dated 27 August 2008, Macmahon has established an acceptance facility ( Acceptance Facility ) which is open by invitation to wholesale clients (as defined in section 761G of the Corporations Act 2001 (Cth)) who hold at least $500,000 worth of Ausdrill shares ( Eligible Shareholders ).

The Acceptance Facility allows Eligible Shareholders to indicate their willingness to accept Macmahon's offer for fully paid ordinary shares in Ausdrill dated 6 June 2008 ( Offer ), by lodging acceptance instructions with UBS Securities Australia Limited ( Facility Agent ).

Macmahon will disclose to ASX and Ausdrill details of the number of Ausdrill shares the subject of acceptance instructions in the Acceptance Facility on the business day following a movement of at least 1% in the aggregate of:

• (a) the number of Ausdrill shares the subject of acceptance instructions; and

• (b) the number of Ausdrill shares in which Macmahon has a relevant interest.

A breakdown of the aggregate amount between these two categories will also be included.

Macmahon confirms that as at 27 August 2008:

• the Facility Agent holds acceptance instructions in respect of 1,348,141 Ausdrill shares, representing 0.78% of Ausdrill shares;

• taking into account formal acceptances of Macmahon's Offer, Macmahon has a relevant interest in 560,559 Ausdrill shares, representing 0.33% of Ausdrill shares; and

• the aggregate of the number of Ausdrill shares the subject of acceptance instructions and the number of Ausdrill Shares in which Macmahon has a relevant interest is 1,908,700 Ausdrill shares, representing 1.11% of Ausdrill shares.

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 notes that acceptance instructions lodged with the Facility Agent do not constitute acceptances of the Offer and can be withdrawn at any time prior to the Offer becoming unconditional.

Yours faithfully

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Katina Gunellas Company Secretary