Perpetual Limited — Major Shareholding Notification 2003

Dec 16, 2003

Form 603

Corporations Law Section 671B

Notice of initial substantial holder

To Company Name/Scheme IRON CARBIDE AUSTRALIA LIMITED

ACN/ARSN 009 106 272

1.	Details of substantial holder (1)
Name		PERPETUAL TRUSTEES AUSTRALIA LIMITED
	ACN (if applicable)	000 431 827

The holder became a substantial holder on $_15_ /_12_ /_2003_$

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Persons' votes (5)	Voting power (6)
Ordinary	11,237,290	11,237,290	5.14 %

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Refer annexure1 & 2

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph above are as follows:

Holder of relevant interest	Registered holder ofsecurities	Persons entitled to beregistered as holder (8)	Class and number ofsecurities
Refer annexure 1

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number ofsecurities
Refer annexure 3		Cash	Non - Cash

Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN (if applicable)	Nature of association
Refer to Annexure 1 & 2

6. Addresses

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

Name	Address
Refer to Annexure 1

Signature

Print name GLENDA CHARLES

Capacity

ASST. COMPANY SECRETARY

Perpetual Investments Account Codes & Details

INTERNAL CODE	ACCOUNT DETAILS
PMISF1	RBC Global Services Australia Nominees PtyLimited ACF: Perpetual's Industrial Share FundAccount Code: PMISF1 Level 19 / 1Castlereagh Street Sydney NSW 200	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
PMISF2	RBC Global Services Australia Nominees PtyLimited ACF: Perpetual's Industrial Share FundAccount Code: PMISF2 Level 19 / 1Castlereagh Street Sydney NSW 200	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
PMISFJ	RBC Global Services Australia Nominees PtyLimited ACF: Perpetual's Industrial Share FundAccount Code: PMISFJ Level 19 / 1Castlereagh Street Sydney NSW 200	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
NSWTC	Cogent Nominees Pty Ltd ACF NSW TreasuryCorporation. Account Code: HGFPTERBC Global Services Australia Nominees PtyLimited, Level 19 / 1 Castlereagh Street SydneyNSW 2000	Cogent Nominees Pty Limited P.O. BoxR209, Royal Exchange, Sydney NSW1225
ARF	JP Morgan Chase Nominees LtdACF.Australian Retirement Fund. Account Code: ARFRBC Global Services Australia Nominees PtyLimited, Level 19 / 1 Castlereagh Street SydneyNSW 2000	JP Morgan Chase Nominees LockedBag 7, Royal Exchange Sydney NSW2000
SMF	Permanent Trustee Australia LtdACF:SMF Funds Management <smf 0013=""> AccountCode: SMF RBC Global Services Australia PtyLimited, Level 19 / 1 Castlereagh Street SydneyNSW 2000	Permanent Trustee Australia Ltd<smf 0013=""> GPO Box 4270 SydneyNSW 2000
GSF	RBC Global Services Australia Nominees PtyLimited. ACF: Perpetual Australia Share Fund.Account Code: ASF / GSF Level 19 / 1Castlereagh Street Sydney NSW 2000	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
PMBHP	JP Morgan Chase Nominees LtdACF: BHP Superannuation Fund. AccountRBC Global ServicesCode: PMBHPAustralia Nominees Pty Limited. Level 19 / 1Castlereagh Street Sydney NSW 2000	JP Morgan Chase Nominees LockedBag 7, Royal Exchange Sydney NSW2000
PMSCA	RBC Global Services Australia Nominees PtyATF: Perpetual's Smaller CompaniesLimitedAnalyst Fund Account Code: PMSCA. Level 19/ 1 Castlereagh Street Sydney NSW 2000	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
PMCBUS	National Nominees Ltd ACF: Construction &Building Union Superannuation Fund AccountCode: PMCBUS RBC Global Services AustraliaNominees Pty Limited. Level 19 / 1 CastlereaghStreet Sydney NSW 200	National Australia Custodian Services5th Floor South, 271 Collins StreetMelbourne VIC 3000
PPSF	RBC Global Services Australia Nominees PtyLimited ATF: Perpetual Property SecuritiesFund Account Code: PPSF. Level 19 / 1Castlereagh Street Sydney NSW 2000	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000

SASFIT	JP Morgan Chase Nominees LtdACF: South Australia Superanuuation FundAccount Code: SASFIT RBC Global ServicesAustralia Nominees Pty Limited. Level 19 / 1Castlereagh Street Sydney NSW 2000	JP Morgan Chase Nominees LockedBag 7 Royal Exchange Sydney NSW2000
ICIS	RBC Global Australia Nominees Pty LimitedACF: Perpetual Investor Choice Industrial AssetGroup Account Code: ICIS. Level 19 / 1Castlereagh Street Sydney NSW 2000	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
ICAS	RBC Global Services Australia Nominess PtyLimited. ACF: Perpetual Investor ChoiceAustralian Asset Group. Account Code: ICASLevel 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia NomineesPty Limited GPO Box 5430Sydney NSW 2000
ICSC	RBC Global Services Australia Nominees PtyLimited. ACF: Perpetual Investor ChoiceSmaller Asset Group Account Code: ICSC.Level 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia NomineesPty Limited GPO Box 5430Sydney NSW 2000
PMHOST	JP Morgan Chase Nominees LimitedACF: Host - Plus Pty Ltd Accoutn Code:PMHOST RBC Global Services AustraliaNominees Pty Limited, Level 19 / 1 CastlereaghStreet Sydney NSW 2000	JP Morgan Chase Nominees LockedBag 7, Royal Exchange Sydney NSW2000
PMCARE	National Nominees Limited.ACF: Care Super FundAccount Code: PMCARERBC Global Services Australia Nominees PtyLimited. Level 19, 1 Castlereagh Street, SydneyNSW 2000	National Australia Custodian Services5th Floor South, 271 Collins StreetMelbourne VIC 3000
PMPSS	ACF:JP Morgan Chase Nominees LimitedPSS Board & Total Risk ManagementAccount Code: PMPSSRBC Global Services Australia Nominees PtyLimited, Level 19, 1 Castlereagh Street, SydneyNSW 2000	JP Morgan Chase Nominees LockedBag 7, Royal Exchange Sydney NSW2000
PMMLC2	Westpac Custodian NomineesACF:MLC Statutory Fund No.2AccountCode: PMMLC2RBC GlobalServices Australia Nominees Pty Limited, Level19, 1 Castlereagh Street, Sydney NSW 2000	Westpac Custodian NomineesState Street Fund Q7M6Level 9, 50 Pitt StreetSydney NSW 2000
PMMLC3	Westpac Custodian NomineesACF:MLC Statutory Fund No.3AccountCode: PMMLC3RBC GlobalServices Australia Nominees Pty Limited, Level19, 1 Castlereagh Street, Sydney NSW 2000	Westpac Custodian NomineesState Street Fund Q7K4Level 9, 50 Pitt StreetSydney NSW 2000
PMMLC4	ACF:Westpac Custodian NomineesMLC Statutory Fund No.4AccountCode: PMMLC4RBC GlobalServices Australia Nominees Pty Limited, Level19, 1 Castlereagh Street, Sydney NSW 2000	Westpac Custodian NomineesState Street Fund Q7MDLevel 9, 50 Pitt StreetSydney NSW 2000
PMMLCI	ACF:Westpac Custodian NomineesMLC MasterkeyAccount Code:PMMLCIRBC GlobalServices Australia Nominees Pty Limited, Level19, 1 Castlereagh Street, Sydney NSW 2000	Westpac Custodian NomineesState Street Fund Q7MHLevel 9, 50 Pitt StreetSydney NSW 2000

PMMLCL	ACF:Westpac Custodian NomineesMLC Lifetime FundAccount Code:PMMLCLRBC GlobalServices Australia Nominees Pty Limited, Level19, 1 Castlereagh Street, Sydney NSW 2000	Westpac Custodian NomineesState Street Fund Q7K9Level 9, 50 Pitt StreetSydney NSW 2000
PMMLCP	ACF:Westpac Custodian NomineesMLCI Pool - Perpetual Australian Share TrustAccount Code: PMMLCPRBC Global Services Australia Nominees PtyLimited, Level 19, 1 Castlereagh Street, SydneyNSW 2000	Westpac Custodian NomineesState Street Fund Q7L5Level9, 50 Pitt StreetSydneyNSW 2000
PMCSS	ACF:JP Morgan Chase Nominees LimitedCSS Board & Total Risk ManagementAccount Code: PMCSSRBC Global Services Australia Nominees PtyLimited, Level 19, 1 Castlereagh Street, SydneyNSW 2000	JP Morgan Chase Nominees LockedBag 7, Royal Exchange Sydney NSW2000
ICPS	RBC Global Services Australia Nominees PtyLimited, ACF: Perpetual Investor ChoiceProperty Securities Asset Group. Account Code:ICPS. Level 19 / 1 Castlereagh Street SydneyNSW 2000	RBC Global Services Australia NomineesPty Limited. GPO Box 5430 Sydney NSW2000
NFMGT	National Nominees Limited ACF: NationalFinancial Management Account Code:NU/NUPPAE RBC Global Services AustraliaNominees Pty Limited, Level 19 / 1 CastlereaghStreet Syndey NSW 2000	National Australia Custodian Services5th Floor South 271 Collins StreetMelbourne VIC 3000
PMONE	National Nominees Limited ACF: OneSteelSuerannuation FundAccount Code:PMONE, RBC Global Services AustraliaNominees Pty Limited Level 19 / 1 CastlereaghStreet Sydney NSW 2000	National Australia Custodian ServicesOneSteel Superannuation FundOSPEAE / 6571-17 5th Floor South271 Collins Street Melbourne VIC 3000
PCEF	RBC Global Services Australia Nominees PtyLimited, Account Code: PCEF Level 19 / 1Castlereagh Street Sydney NSW 2000	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
QITE2	RBC Global Services Australia Nominees PtyLimited AFT: Quantitative Investments TE 2Equity Fund. Account Code: QITE2Level 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
PIMIT	Guardian TrustAustralia Ltd ACF: PerpetualJames Fielding Meridian Investment TrustAccount code PIMIT C/- RBC Global ServicesAustralia Nominees Pty Ltd Level 19, ICastlereagh St Sydney NSW 2000	Guardian Trust Australia Ltd <meridianA/C> GPO Box 469 Sydney NSW 2001</meridian
PIWGAF	UBS Nominee Pty Ltd ACF: PerpetualWholesale Geared Australian Share FundAccount code PIWGAF C/- RBC Global ServicesAustralia Nominees Pty Ltd Level 19, 1Castlereagh St Sydney NSW 2000	UBS Nominee Pty Ltd <prime broking<br="">A/C> Level 25, 1 Farrer Place GovenorPhillip Tower Sydney NSW 200
PIWSPF	UBS Nominee Pty Ltd ACF: PerpetualWholesale Share Plus Fund Account codePIWSPF C/- RBC Global Services AustraliaNominees Pty Ltd Level 19, 1 Castlereagh StSydney NSW 2000	UBS Nominee Pty Ltd <prime broking<br="">A/C> Level 25, 1 Farrer Place GovenorPhillip Tower Sydney NSW 200

PMFSAS	JP Morgan Chase Nominees LimtiedACF: Funds SA Small Co PortfolioAccount Code: PMFSAS RBC Global ServicesAustralia Nominees Pty Limited Level 19/1Castlereagh Street Sydney NSW 2000	JP Morgan Chase Nominees LockedBag 7, Royal Exchange Sydney NSW2000
PMSTA	National Nominees Limited ACF: Super Trust ofAustralia Account Code: PMSTA. RBC GlobalServices Australia Nominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000	National Australia Custodian Services5th Floor South 271 Collins StreetMelbourne VIC 3000
PMWSCM	RBC Global Australia Nominees Pty LimitedACF: Perpetual Wholesale Smaller Co FundAccount Code: PWSCF, Level 19 / 1Castlereagh Street Sydney NSW 2000	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
PMWSCS	RBC Global Australia Nominees Pty LimitedACF: Perpetual Wholesale Smaller Co FundAccount Code: PWSCF. Level 19 / 1Castlereagh Street Sydney NSW 2000	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
PMREST	JP Morgan Chase Nominees LimitedACF: Retail Employers Superannuation FundAccount Code: PMREST. RBC Global ServicesAustralia Nominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW200	JP Morgan Chase Nominees LockedBag 7, Royal Exchange Sydney NSW2000
AMCORP	ACF: A.M.National Nominees LtdCorporation Account. Account Code:AMCORP RBC Global Services AustraliaNominees Pty Limited, Level 19 / 1 CastlereaghStreet Sydney NSW 200	National Australia Custodian ServicesA/C ATPFAE 6822 - 16. 5th Floor South271 Collins Street Melbourne VIC 3000
TEL	National Nominees Limited ACF: TelstraSuperannuation Pty LimitedAccount Code:TEL RBC Global Services Australia NomineesPty Limited, Level 19 / 1 Castlereagh StreetSydney NSW 2000	National Australia Custodian ServicesA/C 3093-15 TSPPAE 5th Floor South271 Collins Street Melbourne VIC 3000
PMFR	Westpac Custodian NomineesACF: Frank Russell Investment ManagementAccount Code: PMFR RBC Global ServicesAustralia Nominees Pty Limited Level 19 / 1Castlereagh Street Sydney NSW 2000	Westpac Custodian NomineesState Street Fund BQ8D Level 9 / 50 PittStreet Sydney NSW 2000
PMCPSF	Citicorp Nominees Pty Ltd EPSS03:Commonwealth Property Fund 3 Account Code:PMCPSF. RBC Global Services Australia PtyLtd, Level 19/1 Castlereagh St. Sydney NSW2000	Citicorp Nominees Pty Ltd GPO Box764G Melbourne VIC 3001
PMCGSF	Citicorp Nominees Pty Ltd EASS11:Commonwealth Aust Shares Fund 11Account Code: PMCGSFRBC GlobalServices Australia Pty Ltd Level 19/1Castlereagh St. Sydney NSW 2000	Citicorp Nominees Pty Ltd GPO Box764G, Melbourne VIC 3001
CBAISF	Citicorp Nominees Pty Ltd. EASS04:Commonwealth Aust Shares Fund 4. AccountCode: CBAISF, RBC Global Services AustraliaPty Ltd Level 19/1 Castlereagh St.Sydney NSW 2000	Citicorp Nominees Pty Ltd GPO Box764G, Melbourne VIC 3001

PMWSRF	RBC Global Services Australia Nominees PtyLimitedACF Perpetual's Wholesale Ethical SRI FundAccount Code: PMWSRFLevel 19 / 1 Castlereagh StreetSydney NSW 2000	RBC Global Services Australia NomineesPty Limited GPO Box5430 Sydney NSW 2000
PTGEN	Perpetual Trustee Services General A / CAccount Code: PTGEN RBC Global ServicesAustralia Nominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia NomineesPty Limited GPO Box 5430,Sydney NSW 2000
Perpetual Trustees Australia LimitedAccount Code: PTALRBC Global ServicesPTALAustralia Nominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000		RBC Global Services Australia NomineeslPty Limited GPO Box 5430,Sydney NSW 2000
PTQLD	Perpetual Trustee Queensland LimitedAccount Code: PTQLD RBC Global ServicesAustralia Nominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia NomineeslPty Limited GPO Box 5430,Sydney NSW 2000
PTCO	Perpetual Trustee Co. LimitedAccount Code: PTCO RBC Global ServicesAustralia Nominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia. NomineeslPty Limited GPO Box 5430,Sydney NSW 2000
PTNM	P.T.A. Nominees Limited ATF: PerpetualTrustees Nominees LimitedAccount Code: PTNM RBC Global ServicesAustralia Nominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia NomineesPty Limited GPO Box 5430,Sydney NSW 2000
PTVIC	Perpetual Trustee Victoria LimitedAccount Code: PTNM RBC Global ServicesAustralia Nominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia NomineesPty Limited GPO Box 5430,Sydney NSW 2000
PNOM	Perpetual Nominees Pty LimitedAccount Code: PNOMAustralia Nominbees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services RBC Global Services Australia NomineesPty Limited GPO Box 5430,Sydney NSW 2000
PTAN	Perpetual Nominees Limited Account Code:PTAN RBC Global Services AustraliaNominees Pty Limited, Level 19 / 1 CastlereaghStreet Sydney NSW 2000	RBC Global Services Australia NomineeslPty Limited GPO Box 5430,Sydney NSW 2000
PML	Perpetual Management Limited Account Code:PML.RBC Global Services AustraliaNominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia NomineesPty Limited GPO Box 5430,Sydney NSW 2000
PTWA	Perpetual Trustee WA LimitedAccount Code: PTWA RBC Global ServicesAustralia Nominees Pty LimitedLevel 19 / 1 Castlereagh Street Sydney NSW2000	RBC Global Services Australia NomineeslPty Limited GPO Box 5430,Sydney NSW 2000
Τ2	Perpetual Trustee Company LimitedPrivate Client Division)	Perpetual Trustee Company Limited39 Hunter Street, Sydney 2000
Perpetual Trustees Victoria LimitedT3(Private Client Division)		Perpetual Trustee Company Limited39 Hunter Street, Sydney 2000

	Perpetual Trustees Queensland Limited	Perpetual Trustee Company Limited
Τ4	Private Client Division)	39 Hunter Street, Sydney 2000
Τ6	Perpetual Trustees WA Limited	Perpetual Trustee Company Limited
	Private Client Division )	39 Hunter Street, Sydney 2000
	Perpetual Trustee Company Canberra Limited	Perpetual Trustee Company Limited
	Private Client Division)	39 Hunter Street, Sydney 2000
DIRECTOR	Perpetual Trustees Australia Limited,	Perpetual Trustee Company Limited
	Directors Personal Holdings	39 Hunter Street, Sydney 2000

PRESENT RELEVANT INTERESTS

Summary (Perpetual Trustees)FIB			鸐
∦ION (IRON CARBIDE AUST)⊺		Portfolios
i Paralio	Fund	Holdings
$\mathscr{D}$ (CSC	PМ	2,246,778
PCEF م	PМ	1,704,942
متحلهT7	PCD	25,000
i PMCBUS	PМ	1,117,672
৶ PMHOST	PM	390,953
PMSTA	PМ	1,081,457
৶ PMWSCM	PM	2,329,791
Ø' PMWSCS	PМ	2,340,697

CHANGES IN RELEVANT INTERESTS

Account	Security	Quantity		Value	Price	DateAsAt
AMCORP	ION	2,896		6,874	$2.37	26-Aug-03
AMCORP	ION	13,734		32,412	$2.36	26-Aug-03
AMCORP	ION	4,542	$\overline{\phantom{a}}$	10,721	$2.36	27-Aug-03
AMCORP	ION	$12,088 -$		27,006	$2.23	04-Sep-03
ARF	ION	8,717		20,691	$2.37	26-Aug-03
ARF	ION	41,342		97,567	$2.36	26-Aug-03
ARF	ION	13,677 -		32,285	$2.36	27-Aug-03
ARF	ION	36,382	$\overline{\phantom{a}}$	81,281	$2.23	$04$ -Sep-03
GSF	ION	28,533		67,727	$2.37	26-Aug-03
GSF	ION	135,319		319,353	$2.36	26-Aug-03
GSF	ION	45,141	$\blacksquare$	106,555	$2.36	27-Aug-03
GSF	ION	118,711	$\blacksquare$	265,212	$2.23	04-Sep-03
ICAS	ION	3,532		8,384	$2.37	26-Aug-03
ICAS	ION	16,749		39,528	$2.36	26-Aug-03
ICAS	ION	5,539		13,075	$2.36	27-Aug-03
ICAS	ION	14,742		32,935	$2.23	04-Sep-03
NSWTC	ION	6,238		14,807	$2.37	26-Aug-03
NSWTC	ION	29,586		69,823	$2.36	26-Aug-03
NSWTC	ION	9,787	$\overline{\phantom{a}}$	23,102	$2.36	27-Aug-03
NSWTC	ION	26,037 -		58,169	$2.23	04-Sep-03
PCEF	ION	97,731		218,917	$2.24	$04$ -Sep- $03$
PCEF	ION	907,021		2,026,376	$2.23	$04-Sep-03$
PCEF	ION	99,003		221,767	$2.24	05-Sep-03
PCEF	ION	65,752		147,284	$2.24	05-Sep-03
PCEF	ION	238,697		534,890	$2.24	$08$ -Sep- $03$
PCEF	ION	106,164		240,415	$2.26	$11-Sep-03$
PCEF	ION	259,042		577,664	$2.23	11-Sep-03
PCEF	ION	153,767		345,477	$2.25	17-Sep-03
PCEF	ION	501,314		1,116,388	$2.23	14-Oct-03
PCEF	ION				$2.23
PCEF	ION	8,679		19,354	$2.23	15-Oct-0315-Oct-03
		93,670		209,285
PCEF	ION	136,943		304,013	$2.22	22-Oct-03
PCEF	ЮN	145,346		322,668	$2.22	23-Oct-03
PCEF	ION	170,009		377,906	$2.22	23-Oct-03
PCEF	ION	30,275		67,211	$2.22	24-Oct-03
PCEF	ION	44,035		97,758	$2.22	24-Oct-03
PCEF	ION	723,496 -		1,606,161	$2.22	27-Oct-03
PCEF	ION	22,219 -		53,103	$2.39	30-Oct-03
PCEF	ION	86,023	$\overline{\phantom{a}}$	205,595	$2.39	31-Oct-03
PCEF	ION	38,541	$\overline{\phantom{a}}$	91,900	$2.38	03-Nov-03
PCEF	ION	33,170	$\blacksquare$	79,131	$2.39	11-Nov-03
PCEF	ION	4,741	$\blacksquare$	11,189	$2.36	13-Nov-03
PCEF	ION	30,131	$\blacksquare$	71,218	$2.36	14-Nov-03
PCEF	ION	15,955 -		37,742	$2.37	17-Nov-03
PCEF	ION	7,996 -		18,391	$2.30	27-Nov-03
PCEF	ION	$22,390 -$		51,497	$2.30	27-Nov-03
PCEF	ION	145,846 -		333,987	$2.29	28-Nov-03
PCEF	ION	14,489 -		33,198	$2.29	$01 - Dec-03$
PCEF	ION	7,396 -		17,159	$	2.32 02-Dec-03
PCEF	ION	2,107		$P_{\text{stack}}^{4,888}$		$2.32$ , 03-Dec-03

This is annexure 3 Page 1 of 6 referred to in Form 603 Title: Notice of initial substantial holder

PIWGAF	ION		242		574	$	2.37	26-Aug-03
PIWGAF	ION		1,145		2,702	$	2.36	26-Aug-03
PIWGAF	ION		382		902	$	2.36	27-Aug-03
PIWGAF	ION		1,005		2,245	$	2.23	04-Sep-03
PIWSPF	ION		1,892		4,491	$	2.37	26-Aug-03
PIWSPF	ION		8,971		21,172	$	2.36	26-Aug-03
PIWSPF	ION		6,136		13,806	$	2.25	01-Oct-03
PIWSPF	ION		6,136		14,726	$	2.40	03-Nov-03
PMCBUS	ЮN		58,640		131,354	$	2.24	04-Sep-03
PMCBUS	ЮN		544,235		1,215,875	$	2.23	04-Sep-03
PMCBUS	ION		37,207		83,344	$	2.24	05-Sep-03
PMCBUS	ЮN		103,257		231,994	$	2.25	17-Sep-03
PMCBUS	ION		300,000		668,077	$	2.23	14-Oct-03
PMCBUS	ION		5,502		12,269	$	2.23	15-Oct-03
PMCBUS	ION		59,371		132,652	$	2.23	15-Oct-03
PMCBUS	ION		85,187		189,115	$	2.22	22-Oct-03
PMCBUS	ION		92,379		205,081	$	2.22	23-Oct-03
PMCBUS	ЮN		108,054		240,189	$	2.22	23-Oct-03
PMCBUS	ЮN		18,638		41,376	$	2.22	24-Oct-03
PMCBUS	ION		3,333			$	2.30	27-Nov-03
PMCBUS	ЮN		9,332	$\overline{\phantom{a}}$$\overline{a}$	7,66621,464	$	2.30	27-Nov-03
PMCBUS						$
PMCBUS	ЮNION		71,719731		164,237	$	2.292.25	28-Nov-03
					1,645			08-Sep-03
PMCBUS	ION		160,610		359,907	$$	2.24	08-Sep-03
PMCBUS	ЮN		68,927		156,089		2.26	11-Sep-03
PMCBUS	ION		26,835	$\overline{\phantom{a}}$	63,987	$	2.38	03-Nov-03
PMCBUS	ION		27,111		60,186	$	2.22	24-Oct-03
PMCBUS	ЮN		465,052	$\overline{\phantom{a}}$	1,032,415	$	2.22	27-Oct-03
PMCBUS	ION		25,947	$\overline{\phantom{a}}$	62,013	$	2.39	31-Oct-03
PMCBUS	ION	$\blacksquare$	14,343	$\overline{a}$	33,929	$	2.37	17-Nov-03
PMCBUS	ЮN		28,723		68,522	$	2.39	11-Nov-03
PMCBUS	ION		3,669	$\overline{\phantom{a}}$	8,659	$	2.36	13-Nov-03
PMCBUS	ION		22,062		52,146	$	2.36	14-Nov-03
PMCBUS	ION		168,183		375,048	$	2.23	11-Sep-03
PMCBUS	ION		44,039	$\overline{\phantom{a}}$	100,904	$	2.29	$01 - Dec-03$
PMCBUS	ЮN		5,306	$\overline{a}$	12,310	$		2.32 02-Dec-03
PMCGSF	ION		2,903		6,891	$	2.37	26-Aug-03
PMCGSF	ION		13,766		32,488	$	2.36	26-Aug-03
PMCGSF	ION		4,526 -		10,684	$	2.36	27-Aug-03
PMCGSF	ION		$12,143 -$		27,129	$	2.23	04-Sep-03
CBAISF	ION		3,198		7,867	$	2.46	22-Aug-03
CBAISF	ION	$\overline{ }$	3,198	$\overline{a}$	7,164	$	2.24	17-Sep-03
CBAISF	ION		762		1,908	$	2.50	21-Aug-03
CBAISF	ION		3,198		7,867	$	2.46	22-Aug-03
CBAISF	ION		3,047		7,233	$	2.37	26-Aug-03
CBAISF	ION		14,453		34,109	$	2.36	26-Aug-03
CBAISF	ION		$4,158 -$		9,815	$	2.36	27-Aug-03
CBAISF	ION		12,723		29,317	$	2.30	28-Aug-03
CBAISF	ION		48,782		108,984	$	2.23	04-Sep-03
CBAISF	ION		28	$\overline{\phantom{a}}$	63	$	2.25	08-Sep-03
PMHOST	ION		58,526		131,150	$	2.24	08-Sep-03
PMHOST	ION		25,162		56,981	$	2.26	$11-Sep-03$
PMHOST	ION		61,394		136,909	$	2.23	11-Sep-03
PMHOST	ION		$37,557$This is annexure 3.		$\frac{84,382}{\text{Pade}}$			$2.25$ $17$ -Sep-03referred to in Form 60

This is annexure 3 Page 2 of 8 referred to in Form 603 Title: Notice of initial substantial holder

PMHOST	ION		109,124	243,011	$	2.23	14-Oct-03
PMHOST	ION		1,992	4,442	$	2.23	15-Oct-03
PMHOST	ION		21,494	48,024	$	2.23	15-Oct-03
PMHOST	ION		31,032	68,891	$	2.22	22-Oct-03
PMHOST	ION		33,651	74,705	$	2.22	23-Oct-03
PMHOST	ION		39,361	87,494	$	2.22	23-Oct-03
PMHOST	ION		21,363	47,853	$	2.24	04-Sep-03
PMHOST	ION		198,268	442,951	$	2.23	04-Sep-03
PMHOST	ION		19,826$\overline{\phantom{a}}$	47,384	$	2.39	31-Oct-03
PMHOST	ION		9,578$\blacksquare$	22,839	$	2.38	03-Nov-03
PMHOST	ION		13,696	30,679	$	2.24	05-Sep-03
PMHOST	ION		274	617	$	2.25	08-Sep-03
PMHOST	ION		9,877	21,927	$	2.22	24-Oct-03
PMHOST	ION		169,410	376,090	$	2.22	27-Oct-03
PMHOST	ION		6,646	15,884	$	2.39	30-Oct-03
PMHOST	ION		6,790	15,074	$	2.22	24-Oct-03
PMHOST	ION		10,021$\overline{\phantom{a}}$	23,906	$	2.39	11-Nov-03
PMHOST	ION		1,390	3,280$\overline{a}$	$	2.36	13-Nov-03
PMHOST	ION		7,767$\blacksquare$	18,358	$	2.36	14-Nov-03
PMHOST	ION		5,003$\overline{\phantom{a}}$	11,835	$	2.37	17-Nov-03
PMHOST	ION		1,171	2,693$\overline{a}$	$	2.30	27-Nov-03
PMHOST	ION		3,278$\overline{\phantom{a}}$	7,539	$	2.30	27-Nov-03
PMHOST	ION		26,871$\overline{\phantom{a}}$	61,535	$	2.29	28-Nov-03
PMHOST	ION	$\blacksquare$	13,935$\overline{\phantom{a}}$	31,929	$	2.29	$01 - Dec-03$
PMHOST	ЮN	$\blacksquare$	2,175$\overline{\phantom{a}}$	5,046	$	2.32	$02$ -Dec-03
PMHOST	ION		$1,537 -$	3,566	$	2.32	$03$ -Dec- $03$
ICIS	ION		15,825	38,930	$	2.46	22-Aug-03
ICIS	ION		15,825$\blacksquare$	35,448	$	2.24	17-Sep-03
ICIS	ION		60,792	140,081	$	2.30	28-Aug-03
ICIS	ION		234,265$\overline{\phantom{a}}$	523,371	$	2.23	04-Sep-03
ICIS	ION		134	302	$	2.25	08-Sep-03
ICIS	ION		4,270	10,693	$	2.50	21-Aug-03
ICIS	ION		15,825$\blacksquare$	38,930	$	2.46	22-Aug-03
ICIS	ЮN		14,334	34,024	$	2.37	26-Aug-03
ICIS	ION		67,978	160,428	$		2.36 26-Aug-03
ICIS	ION		20,136$\overline{a}$	47,531	$	2.36	27-Aug-03
ICSC	ION		54,307	120,562	$	2.22	22-Oct-03
ICSC	ION		35,547	78,914	$	2.22	23-Oct-03
ICSC	ION		41,579	92,424	$	2.22	23-Oct-03
ICSC	ION		8,648	19,199	$	2.22	24-Oct-03
ICSC	ION		12,578	27,923	$	2.22	24-Oct-03
ICSC	ION		10,766	23,901	$	2.22	27-Oct-03
ICSC	ION		41,967	92,327	$	2.20	08-Dec-03
ICSC	ION		2,819	5,948	$	2.11	11-Dec-03
ICSC	ION		72,820	153,650	$	2.11	11-Dec-03
ICSC	ION		20,000	42,800	$	2.14	12-Dec-03
ICSC	ION		15,244	33,842	$	2.22	27-Oct-03
ICSC	ION		274,390	609,146	$	2.22	27-Oct-03
ICSC	ION		2,392	5,717	$	2.39	30-Oct-03
ICSC	ION		27,279 -	65,197	$	2.39	31-Oct-03
ICSC	ION		54,152	125,091	$	2.31	06-Nov-03
ICSC	ION		19,226	44,797	$	2.33	12-Nov-03
ICSC	ION		8,078	18,741	$	2.32	18-Nov-03
ICSC	ION		8,015	18,5 95	ዬ	2.32	19-Nov-03

This is annexure 3 Page 3 of 6 referred to in Form 603 Title: Notice of initial substantial holder

ICSC	ЮN	129,484		297,609	$	2.30	21-Nov-03
ICSC	ION	2,510		5,698	$	2.27	24-Nov-03
ICSC	ЮN	5,249		12,073	$	2.30	26-Nov-03
ICSC	ЮN	9,732		22,298	$	2.29	$01$ -Dec-03
ICSC	ION	172,503		365,706	$	2.12	15-Dec-03
ICSC	ION	218,862		463,987	$	2.12	15-Dec-03
ICSC	ЮN	54,609		121,232	$	2.22	22-Oct-03
ICSC	ION	35,681		79,212	$	2.22	23-Oct-03
ICSC	ЮN	41,735		92,771	$	2.22	23-Oct-03
ICSC	ЮN	8,610		19,114	$	2.22	24-Oct-03
ICSC	ION	12,524		27,803	$	2.22	24-Oct-03
ICSC	ЮN	10,820		24,020	$	2.22	27-Oct-03
ICSC	ION	15,319		34,008	$	2.22	27-Oct-03
ICSC	ION	275,751		612,167	$	2.22	27-Oct-03
ICSC	ION	3,045		7,278	$	2.39	30-Oct-03
ICSC	ЮN	27,409		65,508	$	2.39	31-Oct-03
ICSC	ION	54,485		125,860	$	2.31	06-Nov-03
ICSC	ION	19,529		45,503	$	2.33	12-Nov-03
ICSC					$		18-Nov-03
	ЮN	7,450		17,284		2.32
ICSC	ION	7,944		18,430	$	2.32	19-Nov-03
ICSC	ION	130,153		299,147	$	2.30	21-Nov-03
ICSC	ION	2,137		4,851	$	2.27	24-Nov-03
ICSC	ION	4,209		9,681	$	2.30	26-Nov-03
ICSC	ЮN	11,072		25,369	$	2.29	$01$ -Dec- $03$
ICSC	ЮN	42,299		93,058	$	2.20	08-Dec-03
ICSC	ION	2,815		5,940	$	2.11	11-Dec-03
ICSC	ION	72,714		153,427	$	2.11	11-Dec-03
ICSC	ЮN	167,095		354,241	$	2.12	15-Dec-03
ICSC	ION	212,000		449,440	$	2.12	15-Dec-03
PMISF2	ION	100,815		248,005	$	2.46	22-Aug-03
PMISF2	ION	100,815		225,826	$	2.24	17-Sep-03
PMISFJ	ЮN	100,815		248,005	$	2.46	22-Aug-03
PMISFJ	ЮN	92,326		219,149	$	2.37	26-Aug-03
PMISFJ	ЮN	437,862		1,033,354	$	2.36	26-Aug-03
PMISFJ	ION	146,513	$\overline{a}$	345,844	$		2.36 27-Aug-03
PMISFJ	ION	426,485		982,737	$	2.30	28-Aug-03
PMISFJ	ION	1,519,701	$\frac{1}{2}$	3,395,164	$	2.23	04-Sep-03
PMISFJ	ION	843.	$\overline{\phantom{a}}$	1,897	$	2.25	08-Sep-03
PMISFJ	ION	30,570	$\overline{\phantom{a}}$	76,554	$	2.50	21-Aug-03
PMSTA	ION	106,172		235,702	$	2.22	22-Oct-03
PMSTA	ION	87,696		194,685	$	2.22	23-Oct-03
PMSTA	ION	102,576		228,012	$	2.22	23-Oct-03
PMSTA	ION	25,046 -		59,722	$	2.38	03-Nov-03
PMSTA	ION	42,735		95,726	$	2.24	04-Sep-03
PMSTA	ION	18,547		41,174	$	2.22	24-Oct-03
PMSTA	ION	26,977		59,889	$	2.22	24-Oct-03
PMSTA	ION	442,042	$\overline{\phantom{a}}$	981,333	$	2.22	27-Oct-03
PMSTA	ION	13,390	$\overline{\phantom{a}}$	32,002	$	2.39	30-Oct-03
PMSTA	ION	48,407 -		115,693	$	2.39	31-Oct-03
PMSTA	ION	55,564		127,242	$	2.29	28-Nov-03
PMSTA	ION	33,345		74,693	$	2.24	05-Sep-03
PMSTA	ION	112,977		253,167	$	2.24	08-Sep-03
PMSTA	ION	49,747		112,655	$	2.26	11-Sep-03
PMSTA	ION	121,381		270,680	$,		2.23 11-Sep-03

This is annexure 3 Page 4 of 6 referred to in Form 603 Title: Notice of initial substantial holder

Signature ______________________

PMSTA	ION	75,257	169,084	$2.25	17-Sep-03
PMSTA	ION	519,209	1,156,239	$2.23	14-Oct-03
PMSTA	ION	396,620	886,089	$2.23	04-Sep-03
PMSTA	ION	5,334$\overline{a}$	12,725	$2.39	11-Nov-03
PMSTA	ION	22,497	53,175	$2.36	14-Nov-03
PMSTA	ION	11,278$\overline{\phantom{a}}$	26,678	$2.37	17-Nov-03
PMSTA	ION	5,465	12,187	$2.23	15-Oct-03
PMSTA	ION	58,971	131,758	$2.23	15-Oct-03
PMSTA	ION	47,537$\overline{a}$	108,919	$2.29	01-Dec-03
PMSTA	ION	5,123	11,885	$2.32	02-Dec-03
PMWSCM	ION	125,360	278,299	$2.22	22-Oct-03
PMWSCM	ION	84,144	186,800	$2.22	23-Oct-03
PMWSCM	ION	98,421	218,776	$2.22	23-Oct-03
PMWSCM	ION	113,590	262,393	$2.31	06-Nov-03
PMWSCM	ION	43,063	100,337	$2.33	12-Nov-03
PMWSCM	ION	9,422	21,859	$2.32	18-Nov-03
PMWSCM	ION	11,985	27,805	$2.32	19-Nov-03
PMWSCM	ION	288,016	661,983	$2.30	21-Nov-03
PMWSCM	ION	260	590	$2.27	24-Nov-03
PMWSCM	ION	58,033	127,673	$2.20	08-Dec-03
PMWSCM	ION	6,859	14,472	$2.11	11-Dec-03
PMWSCM	ION	177,181		$2.11	11-Dec-03
PMWSCM	ION		373,85235,746	$2.22	24-Oct-03
PMWSCM	ION	16,102		$2.22	24-Oct-03
PMWSCM	ION	23,422	51,997	$
PMWSCM		19,751$\overline{\phantom{a}}$	45,427	$2.30	26-Nov-03
	ION	6,250$\overline{a}$	14,375	2.30	27-Nov-03
PMWSCM	ION	17,500$\overline{a}$	40,250	$2.30	27-Nov-03
PMWSCM	ION	10,268	23,527	$2.29	01-Dec-03
PMWSCM	ION	24,547	54,494	$2.22	27-Oct-03
PMWSCM	ION	34,756	77,158	$2.22	27-Oct-03
PMWSCM	ION	625,610	1,388,854	$2.22	27-Oct-03
PMWSCM	ION	18,735$\overline{\phantom{a}}$	44,777	$2.39	30-Oct-03
PMWSCM	ION	62,822	150,145	$2.39	31-Oct-03
PMWSCM	ION	18,659	39,974	$2.14	15-Dec-03
PMWSCM	ION	327,497	694,294	$2.12	15-Dec-03
PMWSCM	ION	415,508	880,877	$2.12	15-Dec-03
PMWSCS	ION	12,056	27,970	$2.32	19-Nov-03
PMWSCS	ION	287,347	660,446	$2.30	21-Nov-03
PMWSCS	ION	634	1,439	$2.27	24-Nov-03
PMWSCS	ION	20,791$\overline{\phantom{a}}$	47,819	$2.30	26-Nov-03
PMWSCS	ION	6,250	14,375	$2.30	27-Nov-03
PMWSCS	ION	17,500	40,250	$2.30	27-Nov-03
PMWSCS	ION	$8,928 -$	20,456	$2.29	01-Dec-03
PMWSCS	ION	125,058	277,629	$2.22	22-Oct-03
PMWSCS	ION	84,010	186,502	$2.22	23-Oct-03
PMWSCS	ION	98,265	218,429	$2.22	23-Oct-03
PMWSCS	ION	16,140	35,831	$2.22	24-Oct-03
PMWSCS	ION	23,476	52,117	$2.22	24-Oct-03
PMWSCS	ION	24,493	54,374	$2.22	27-Oct-03
PMWSCS	ION	34,681	76,992	$2.22	27-Oct-03
PMWSCS	ION	624,249	1,385,833	$2.22	27-Oct-03
PMWSCS	ION	57,701	126,942	$2.20	08-Dec-03
PMWSCS	ION	6,864	14,483	$2.11	11-Dec-03
PMWSCS	ION	177,285s is ann	374,071Page 5		2.11, 11-Dec-03ferred to in Form 60

This' is annexure 3 Page's of 8 referred to in Form 603 Title: Notice of initial substantial holder

ION	$\blacksquare$	18,082	$\overline{a}$	43,216	$2.39	30-Oct-03
ION.	$\blacksquare$	62,692	$\blacksquare$	149,834	$2.39	31-Oct-03
ЮN		113,257		261,624	$2.31	06-Nov-03
ION		42,760		99.631	$2.33	12-Nov-03
ION		10,050		23,316	$2.32	18-Nov-03
ION		18,660	$\overline{a}$	39,976	$2.14	$15$ -Dec-03
ION		332,905		705,759	$2.12	$15$ -Dec-03
ION		422,369		895,422	$2.12	$15$ -Dec-03
ION	$\blacksquare$	98,956	$\overline{a}$	233,263	$2.36	05-Nov-03
ION		47,301	$\overline{a}$	109,815	$2.32	06-Nov-03
ION.		1,381		3.278	$2.37	26-Aug-03
ION.		6.550		15,458	$2.36	26-Aug-03
ION	$\blacksquare$	2,167		5,115	$2.36	27-Aug-03
ION.	m	5,764	$\overline{a}$	12,877	$2.23	$04$ -Sep-03
ION		3,959		9.397	$2.37	26-Aug-03
ION		18,777		44.314	$2.36	26-Aug-03
ION.	$\blacksquare$			14,663	$2.36	27-Aug-03
ION		16,524		36,916	$2.23	$04$ -Sep- $03$
				$\overline{a}$$6,212 -$

This is annexure 3 Page 6 of 6 referred to in Form 603Title: Notice of initial substantial holder