MACMAHON HOLDINGS LIMITED — M&A Activity 2008

Aug 26, 2008

MACMAHON HOLDINGS LIMITED ABN 93 007 634 406

NOTICE UNDER SECTION 650F OF THE CORPORATIONS ACT 2001 (CTH)

TO: ASX Limited Ausdrill Limited ABN 95 009 211 474 ( Ausdrill )

BY THIS NOTICE , Macmahon Holdings Limited ABN 93 007 634 406 ( Macmahon ) DECLARES the offers dated 6 June 2008 ( Offers ) made by it under an off-market takeover bid for ordinary shares in Ausdrill and the contracts (if any) formed by the acceptance of the Offers free from the conditions described in clause 5.1(f) (S&P/ASX 300 index) and clause 5.1(g) (Change in control) of Appendix A – The Offer Terms to Macmahon's bidder's statement dated 22 May 2008.

The Offers are now free of the above conditions.

Macmahon's voting power in Ausdrill as at the time of giving this notice is 0.32%.

DATED 27 August 2008

EXECUTED by Macmahon Holdings Limited :

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Signature of director

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Signature of director

Richard Carter

Name

John Massey

Name