Perpetual Limited — Major Shareholding Notification 2002

Dec 9, 2002

ASX ANNOUNCEMENT

CHANGE IN SUBSTANTIAL SHAREHOLDING - NOTICE PURSUANT TO LISTING RULE 3.19.1

As required under Listing Rule 3.19.1, the Company gives notice that it has become aware that Perpetual Trustees Australia Limited increased its relevant interest in TABCORP Holdings Limited on 5 December 2002 to 30,073,434 ordinary shares representing 8.16% of the issued fully paid ordinary capital.

Section 53 of the Victorian Gaming and Betting Act prohibits an individual from having a voting power of more than 10% in TABCORP Holdings Limited. Similar restrictions are contained in the Company's Constitution and certain agreements entered into with the New South Wales Casino Control Authority. The Company may refuse to register any transfer of shares which would contravene these shareholding restrictions or require divestiture of the shares that cause an individual to exceed the shareholding restrictions.