Perpetual Limited — Major Shareholding Notification 2005

Mar 22, 2005

Form 603

Corporations Law Section 671B

Notice of initial substantial holder

To Company Name/Scheme PMP LIMITED ARSN 050 148 644 1. Details of substantial holder (1) PERPETUAL TRUSTEES AUSTRALIA LIMITED Name 000 431 827 ACN (if applicable)

The holder became a substantial holder on $-22$ / 03 / 2005

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	14,789,072	14,789,072	$5.00\%$

3. Details of relevant interests

The nature of the refevant 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 of securities	Persons entitled to be registered as holder (8)	Class and number of securities
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 of securities
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	REGISTRATION DETAILS
PIHEST	RBC Global Services Australia Nominees Pty Limited ACF: HEST Australia Limited Account Code: PIHEST GPO Box 5424 Sydney NSW 2001	JP Morgan Chase Nominees Locked Bag 7, Royal Exchange Sydney NSW 2000
PMISF1	RBC Global Services Australia Nominees Pty Limited ACF: Perpetual's Industrial Share Fund Account Code: PIISF1 GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMISF2	RBC Global Services Australia Nominees Pty Limited ACF: Perpetual's Industrial Share Fund Account Code: PIISF2 GPO Box 5424 Sydney NSW 2000	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMISFJ	RBC Global Services Australia Nominees Pty Limited ACF: Perpetual's Industrial Share Fund Account Code: PIISFJ GPO Box 5424 Sydney NSW 2000	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PIJUTD	Permanent Trustee Australia Ltd ACF: PI United Sector Property Fund. Account Code: SMF0024. C/- RBC Global Services Australia Pty Limited GPO Box 5424 Sydney NSW 2001	Permanent Trustee Australia Ltd GPO Box 4270 Sydney NSW 2000
NSWTC	Cogent Nominees Pty Ltd ACF NSW Treasury Corporation. Account Code: PINSWT RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	Cogent Nominees Pty Limited P.O. Box R209, Royal Exchange, Sydney NSW 1225
PIEFM6	Cogent Nominees Pty Ltd ACF EFM Australian Share Fund 6 Account Code: PIEFM6 RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	Cogent Nominees Pty Limited A/C: WTXME6, P.O. Box R209, Royal Exchange, Sydney NSW 1225
ARF	JP Morgan Chase Nominees Ltd ACF: Australian Retirement Fund, Account Code: PIARF. RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	JP Morgan Chase Nominees Locked Bag 7, Royal Exchange Sydney NSW 2000
PIACT	JP Morgan Chase Nominees Ltd ACF: Australian Capital Territory Treasury. Account Code: PIACT RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	JP Morgan Chase Nominees Locked Bag 7, Royal Exchange Sydney NSW 2000
PIFIJI	National Nominees Limited ACF: Fiji National Provident Fund Account Code: PIFIJI, RBC Global Services Australia Nominees Pty Ltd GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services A/C FNPEAE. 5th Floor South 271 Collins Street Melbourne VIC 3000
SMF	Permanent Trustee Australia Ltd ACF: SMF Funds Management Account Code: PISMF. RBC Global Services Australia Pty Limited GPO Box 5424 Sydney NSW 2001	Permanent Trustee Australia Ltd GPO Box 4270 Sydney NSW 2000

GSF	RBC Global Services Australia Nominees Pty Limited. ACF: Perpetual Australia Share Fund. Account Code: PIGSF GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMSCA	RBC Global Services Australia Nominees Pty Limited ATF: Perpetual's Smaller Companies Analyst Fund Account Code: PISCA. GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMCBUS	National Nominees Ltd ACF: Construction & Building Union Superannuation Fund Account Code: PICBUS, RBC Global Services Australia Nominees Pty Limited. GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services 5th Floor South, 271 Collins Street Melbourne VIC 3000
PPSF	RBC Global Services Australia Nominees Pty Limited ATF: Perpetual Property Securities Fund Account Code: PIPSF, GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
ICIS	RBC Global Australia Nominees Pty Limited ACF: Perpetual Investor Choice Industrial Asset Group Account Code: PISIND GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
ICAS	RBC Global Services Australia Nominess Pty Limited. ACF: Perpetual Investor Choice Australian Asset Group. Account Code: PIICAS GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
ICSC	RBC Global Services Australia Nominees Pty Limited. ACF: Perpetual Investor Choice Smaller Asset Group Account Code: PISSCF. GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMHOST	JP Morgan Chase Nominees Limited ACF: Host - Plus Pty Ltd Accoutn Code: PIHOST, RBC Global Services Australia Nominees Pty Limited, GPO Box 5424 Sydney NSW 2001	JP Morgan Chase Nominees Locked Bag 7, Royal Exchange Sydney NSW 2000
ALL 'PC' CODES	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
ALL 'SS' CODES	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMONE	National Nominees Limited ACF: OneSteel Superannuation Fund Account Code: PIONE, RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services OneSteel Superannuation Fund OSPEAE / 6571-17 5th Floor South 271 Collins Street Melbourne VIC 3000

PCEF	RBC Global Services Australia Nominees Pty Limited, Account Code: PICEF GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
QITE2	RBC Global Services Australia Nominees Pty Limited AFT: Quantitative Investments TE 2 Equity Fund. Account Code: PIQTE2 GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PIMIT	Guardian TrustAustralia Ltd ACF: Perpetual James Fielding Meridian Investment Trust Account code PIMIT. RBC Global Services Australia Nominees Pty Ltd GPO Box 5424 Sydney NSW 2001	Guardian Trust Australia Ltd <meridian A/C> GPO Box 469 Sydney NSW 2001</meridian
PIWGAF	UBS Nominee Pty Ltd ACF: Perpetual Wholesale Geared Australian Share Fund Account code PIWGAS. RBC Global Services Australia Nominees Pty Ltd GPO Box 5424 Sydney NSW 2001	UBS Nominee Pty Ltd <prime brokingA/C> Level 25, 1 Farrer Place Govenor Phillip Tower Sydney NSW 2000
PIWSPF	UBS Nominee Pty Ltd ACF: Perpetual Wholesale Share Plus Fund Account code PIWSPF, RBC Global Services Australia Nominees Pty Ltd GPO Box 5424 Sydney NSW 2001	UBS Nominee Pty Ltd <prime brokingA/C> Level 25, 1 Farrer Place Govenor Phillip Tower Sydney NSW 2000
PMSTA	National Nominees Limited ACF: Super Trust of Australia Account Code: PISTA. RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services 5th Floor South 271 Collins Street Melbourne VIC 3000
PMWSCM	RBC Global Australia Nominees Pty Limited ACF: Perpetual Wholesale Smaller Co Fund Account Code: PIWSCF, GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PMWSCS	RBC Global Australia Nominees Pty Limited ACF: Perpetual Wholesale Smaller Co Fund Account Code: PIWSCF. GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
AMCORP	National Nominees Ltd ACF: IOOF Account. Account Code: PIAMC RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services A/C ATPFAE 6822 - 16, 5th Floor South 271 Collins Street Melbourne VIC 3000
TEL	National Nominees Limited ACF: Telstra Superannuation Pty Limited Account Code: PITEL RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	National Australia Custodian Services A/C 3093-15 TSPPAE 5th Floor South 271 Collins Street Melbourne VIC 3000
PMFR	Westpac Custodian Nominees ACF: Frank Russell Investment Management Account Code: PIMFR RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	Westpac Custodian Nominees State Street Fund BQ8D Level 9 / 50 Pitt Street Sydney NSW 2000
PMCPSF	Citicorp Nominees Pty Ltd ACF:Commonwealth Property Fund 3 Account Code: PICPSF. RBC Global Services Australia Pty Ltd, GPO Box 5424 Sydney NSW 2001	Citicorp Nominees Pty Ltd A/C EPSS03 GPO Box 764G Melbourne VIC 3001

PMCGSF	Citicorp Nominees Pty Ltd ACF: Commonwealth Aust Shares Fund 11 Account Code: PICGSF RBC Global Services Australia Pty Ltd GPO Box 5424 Sydney NSW 2001	Citicorp Nominees Pty Ltd A/C EASS11 GPO Box 764G, Melbourne VIC 3001
CBAISF	Citicorp Nominees Pty Ltd. ACF: Commonwealth Aust Shares Fund 4. Account Code:PICISF, RBC Global Services Australia Pty Ltd GPO Box 5424 Sydney NSW 2001	Citicorp Nominees Pty Ltd A/C EASS04 GPO Box 764G, Melbourne VIC 3001
PMWSRF	RBC Global Services Australia Nominess Pty Limited. ACF: Perpetual Wholesael Ethical Fund Account Code: PIWSRF GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PWSCF	RBC Global Services Australia Nominess Pty Limited. ACF: Perpetual Wholesale Smaller Co Fund Account Code: PIWSCF GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PTGEN	Perpetual Trustee Services General A / C Account Code: PTPGEN RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PTAL	Perpetual Trustees Australia Limited Account Code: PTAL RBC Global Services Australia Nominees Pty Limited Level 19 / 1 Castlereagh Street Sydney NSW 2000	RBC Global Services Australia Nominees Pty Limited GPO Box 5430, Sydney NSW 2000
PTQLD	Perpetual Trustee Queensland Limited Account Code: PTQLD RBC Global Services Australia Nominees Pty Limited Level 19 / 1 Castlereagh Street Sydney NSW 2000	RBC Global Services Australia Nominees Pty Limited GPO Box 5430, Sydney NSW 2000
PTCO	Perpetual Trustee Co. Limited Account Code: PTPCO RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PTNM	P.T.A. Nominees Limited ATF: Perpetual Trustees Nominees Limited Account Code: PTPNM RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001
PTVIC	Perpetual Trustee Victoria Limited Account Code: PTNM RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PNOM	Perpetual Nominees Pty Limited Account Code: PTPNOM RBC Global Services Australia Nominbees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001

PTAN	Perpetual Nominees Limited Account Code: PTPAN RBC Global Services Australia Nominees Pty Limited, GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PML	Perpetual Management Limited Account Code: PTPML RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
PTWA	Perpetual Trustee WA Limited Account Code: PTPWA RBC Global Services Australia Nominees Pty Limited GPO Box 5424 Sydney NSW 2001	RBC Global Services Australia Nominees Pty Limited GPO Box 5424, Sydney NSW 2001
Τ2	Perpetual Trustee Company Limited Private Client Division )	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
Т3	Perpetual Trustees Victoria Limited Private Client Division )	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
Т4	Perpetual Trustees Queensland Limited Private Client Division )	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
Τ6	Perpetual Trustees WA Limited Private Client Division )	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
T7	Perpetual Trustee Company Canberra Limited (Private Client Division)	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000
DIRECTOR	Perpetual Trustees Australia Limited, Directors Personal Holdings	Perpetual Trustee Company Limited 39 Hunter Street, Sydney 2000

PRESENT RELEVANT INTERESTS

Summar (Perpetial Morece) Fle		,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,	$L = 1$
PMP (Pmp Communications)		Portfolios
Pondic	IFONT	Holding:
/ Iss	PM	6,882,916
Т2	PCD	269
QITE2 متمحقا	PМ	346,007
PMWSCM	PM	3,658,598
PMWSCS	PM	3,901,282

CHANGES IN RELEVANT INTERESTS

Account	Security	Volume	Value		Price	AsAtDate
ICSC	PMP	20,837	41,016	\$	1.97	22-Nov-04
ICSC	PMP	50,317	98,737	\$	1.96	22-Nov-04
ICSC	PMP	20,000	40,650	\$	2.03	25-Nov-04
ICSC	PMP	125,590	250,539	\$	1.99	29-Nov-04
ICSC	PMP	17,050	36,734	\$	2.15	02-Dec-04
ICSC	PMP	26,706	57,418	\$	2.15	03-Dec-04
ICSC	PMP	26,983	57,161	\$	2.12	06-Dec-04
ICSC	PMP	10,999	23,471	\$	2.13	07-Dec-04
ICSC	PMP	48,371	103,079	\$	2.13	08-Dec-04
ICSC	PMP	100,000	220,450	\$	2.20	11-Jan-05
ICSC	PMP	15,000	31,800	\$	2.12	17/01/2005
ICSC	PMP	12,500	25,750	\$	2.06	19/01/2005
ICSC	PMP	25,000	51,500	\$	2.06	20/01/2005
ICSC	PMP	35,315	72,749	\$	2.06	21/01/2005
ICSC	PMP	11,333	23,346	\$	2.06	24/01/2005
ICSC	PMP	41,774	88,461	\$	2.12	28/01/2005
ICSC	PMP	6,851	14,456	\$	2.11	31/01/2005
ICSC	PMP	38,481	81,680	\$	2.12	02/02/2005
ICSC	PMP	109,544	244,415	\$	2.23	16/02/2005
ICSC	PMP	19,718	37,695	\$	1.91	23/02/2005
ICSC	PMP	45,240	88,218	\$	1.95	24/02/2005
ICSC	PMP	56,815	111,755	\$	1.97	01/03/2005
ICSC	PMP	244,915	485,177	\$	1.98	10/03/2005
ICSC	PMP	10,469	19,867	\$	1.90	22/03/2005
ICSC	PMP	107,105	200,286	\$	1.87	22/03/2005
ICSC ICSC	PMP PMP	20,771	40,886	\$ \$	1.97 1.96	22/11/2004 22/11/2004
ICSC	PMP	50,160 138,336	98,429 275,966	\$	1.99	29/11/2004
ICSC	PMP	16,942	36,502	\$	2.15	02/12/2004
ICSC	PMP	26,726	57,461	\$	2.15	03/12/2004
ICSC	PMP	27,013	57,224	\$	2.12	06/12/2004
ICSC	PMP	11,050	23,580	\$	2.13	07/12/2004
ICSC	PMP	48,538	103,434	\$	2.13	08/12/2004
ICSC	PMP	12,500	26,125	\$	2.09	05/01/2005
ICSC	PMP	100,000	219,910	\$	2.20	13/01/2005
ICSC	PMP	2,519	5,340	\$	2.12	17/01/2005
ICSC	PMP	33,726	71,354	\$	2.12	18/01/2005
ICSC	PMP	7,724	15,911	\$	2.06	19/01/2005
ICSC	PMP	18,728	38,580	\$	2.06	20/01/2005
ICSC	PMP	25,276	52,069	\$	2.06	21/01/2005
ICSC	PMP	10,941	22,538	\$	2.06	24/01/2005
ICSC	PMP	9,511	20,068	\$	2.11	31/01/2005
ICSC	PMP	46,767	99,268	\$	2.12	02/02/2005
ICSC	PMP	19,719	37,697	\$	1.91	23/02/2005
ICSC	PMP	58,016	113,131	\$	1.95	24/02/2005
ICSC	PMP	42,168	80,119	\$	1.90	21/03/2005
ICSC	PMP	21,369	40,552	\$	1.90	22/03/2005
ICSC	PMP	218,618	408,816	\$	1.87	22/03/2005

This is annexure 3 Page 1 of 2 referred to in Form 603
Title: Notice of initial substantial holder

PMWSCM	PMP	59,683	117,116	\$	1.96	22/11/2004
PMWSCM	PMP	24,715	48,649	\$	1.97	22/11/2004
PMWSCM	PMP	139,410	278,109	\$	1.99	29/11/2004
PMWSCM	PMP	2,034	4,382	\$	2.15	02/12/2004
PMWSCM	PMP	23,294	50,082	\$	2.15	03/12/2004
PMWSCM	PMP	28,017	59,351	\$	2.12	06/12/2004
PMWSCM	PMP	5,351	11,419	\$	2.13	07/12/2004
PMWSCM	PMP	54,526	116,195	\$	2.13	08/12/2004
PMWSCM	PMP	14,685	30,251	\$	2.06	21/01/2005
PMWSCM	PMP	6,167	12,704	\$	2.06	24/01/2005
PMWSCM	PMP	24,428	51,729	\$	2.12	28/01/2005
PMWSCM	PMP	2,661	5,615	\$	2.11	31/01/2005
PMWSCM	PMP	34,800	73,866	\$	2.12	02/02/2005
PMWSCM	PMP	90,456	201,825	\$	2.23	16/02/2005
PMWSCM	PMP	60,041	117,080	\$	1.95	24/02/2005
PMWSCM	PMP	43,185	84,945	\$	1.97	01/03/2005
PMWSCM	PMP	280,085	554,848	\$	1.98	10/03/2005
PMWSCM	PMP	102,416	191,518	\$	1.87	22/03/2005
PMWSCM	PMP	10,010	18,996	\$	1.90	22/03/2005
PMWSCS	PMP	24,780	48,777	\$	1.97	22/11/2004
PMWSCS	PMP	59,840	117,424	\$	1.96	22/11/2004
PMWSCS	PMP	126,664	252,682	\$	1.99	29/11/2004
PMWSCS	PMP	2,143	4,617	\$	2.15	02/12/2004
PMWSCS	PMP	23,274	50,039	\$	2.15	03/12/2004
PMWSCS	PMP	27,987	59,288	\$	2.12	06/12/2004
PMWSCS	PMP	5,299	11,308	\$	2.13	07/12/2004
PMWSCS	PMP	54,359	115,839	\$ \$	2.13 2.12	08/12/2004
PMWSCS PMWSCS	PMP PMP	12,481	26,460	\$	2.12	17/01/2005 18/01/2005
PMWSCS	PMP	36,274 4,776	76,745 9,839	\$	2.06	19/01/2005
PMWSCS	PMP	6,272	12,920	\$	2.06	20/01/2005
PMWSCS	PMP	24,724	50,931	\$	2.06	21/01/2005
PMWSCS	PMP	6,559	13,512	\$	2.06	24/01/2005
PMWSCS	PMP	26,513	56,276	\$	2.12	02/02/2005
PMWSCS	PMP	47,266	92,169	\$	1.95	24/02/2005
PMWSCS	PMP	5,374	10,211	\$	1.90	21/03/2005
PMWSCS	PMP	236,861	442,930	\$	1.87	22/03/2005
PMWSCS	PMP	23,152	43,936	\$	1.90	22/03/2005

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

Signature _______________________