SELECT HARVESTS LIMITED — Major Shareholding Notification 2003

Jan 1, 2003

Facsimile Transmission

To:	ASX Announcements
Company:	Timbercorp Limited
Facsimile Number:	1300 300 021
From:	Mark Pryn
Date:	2 January 2002
Subject:	Notice of initial substantial shareholder
Number of pages including this cover: $\mathbf{\Im}$

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Timbercorp announces that effective 31 December 2002, its 75% owned subsidiary Almonds Australia Pty Ltd became a substantial shareholder in Select Harvests Limited (SHV) with a holding of 5.57% of the ordinary shares in the company.

ASIC Form 603 follows.

Mark Pryn Company Secretary

Offices in Adelaide Hamilton Brisbane Penola Robinvale

Sydney Perth Albany Boort

603 page 1/2 15 July 2001

$2/$

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/SchemeSelect Harvests Limited
ACN/ARSN	000 721 380
1. Details of substantial holder (1)
Name	Almonds Australia Pty Ltd (AA)
ACN/ARSN (if applicable)	094 429 419

The holder became a substantial holder on

2. Details of voting power

$2 - 1 - 03$ ; 16:25

$\cdot$

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 arelevant interest (3) in on the date the substantial holder

31/12/02

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinarv	1,966,500	1,966,500	5.57%

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
AA	direct shareholding	Ordinary - 1,966.500
Timbercorp Limited	75% shareholding in AA	as above

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder (8)	Class and numberof securities
ΑA	AA	AA.	As in 3.

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 relevantinterest	Date of acquisition		Consideration (9)		Class and numberof securities
		Cash	Non-cash
AA	31.12.2002	, $979, 650			Ord. 466,500

603 page 2/2 15 July 2001

6. Associates

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

Name and ACN/ARSN (if applicable)	Nature of association
Timbercorp Limited	75% shareholding in AA

7. Addresses

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

Name	Address
	Almonds Australia Pty Ltd Lvl 8, 461 Bourke Street, Melbourne Vic 3000
Timbercorp Limited	as above

Signature

print name Mark Pryn	capacity Company Secretary
sign here	date $2$ / $O$ ( $O$ $O$

DIRECTIONS

• $(1)$ If there are a number of substantial holders with similar or related relevant interests (eq. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• See the definition of "relevant interest" in sections 508 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.
• $(6)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(7)$ Include details of:
  • $\langle a|$ any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $(8)$
• $\langle 9 \rangle$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.