SEEK LIMITED — Capital/Financing Update 2006

Sep 3, 2006

For immediate release

ASX Announcement

4 September 2006

SEEK finalises formal agreements for its investment in IDP

Further to our announcement on 9 August 2006, SEEK Limited (ASX: SEK) announces that it has entered into formal agreements for the acquisition of a 50% interest in IDP, the largest Australian agency for placement of international students into Australian educational institutions.

There are a number of conditions precedent that remain to be completed. It is anticipated that the transaction will be completed in late September. The terms of the formal agreements are such that, subject to completion, SEEK will participate in IDP's profits as from 1 September 2006.