Perpetual Limited — Major Shareholding Notification 2004

Aug 24, 2004

TABCORP Holdings Limited ACN 063 780 709

5 Bowen Crescent Melbourne Australia 3004 GPO Box 1943R Melbourne Australia 3001

Telephone 61 3 9868 2100 Facsimile 61 3 9868 2300 Website www.tabcorp.com.au

25 August 2004

$To:$ Australian Stock Exchange Companies Announcements Platform 20 Bridge Street Sydney NSW 2000

CHANGE IN SUBSTANTIAL SHAREHOLDING

As required under Listing Rule 3.19.1, the Company gives notice that it has become aware that Perpetual Trustees Australia Limited changed its relevant interest in TABCORP Holdings Limited on 23 August 2004 to 36,047,640 ordinary shares representing 7.13% 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 as well as the Queensland Office of Gaming Regulation. 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.