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ST BARBARA LIMITED Board/Management Information 2004

Aug 11, 2004

65749_rns_2004-08-11_37cfe4ce-ff28-48f1-b468-2284c867d10b.pdf

Board/Management Information

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ST BARBARA MINES LIMITED

$\overline{ASX}$ SHAREHOLDERS REPORT

Enquiries regarding this report may be directed to:

Eduard Eshuys

Managing Director Telephone $(08)$ 9476 5555 Overseas +61 8 9476 5555

St Barbara Mines Limited ACN 009 165 066 Level 2, 16 Ord Street West Perth Western Australia 6005 Telephone (08) 9476 5555 Overseas +61 8 9476 5555

Settlement with former Executive Chairman

Following completion of an initial review of the Company by Deloitte, agreement has been reached with the former Executive Chairman, Mr Stephen Miller, for his employment with the Company to end with effect from 4 August 2004.

The terms of this agreement will entail a termination payment of $257,543.32 inclusive of all statutory entitlements (less applicable taxes) under his contract by St Barbara to Mr Miller. Mr Miller will immediately resign from the Boards of all St Barbara subsidiaries and from the Boards of NuStar Mining Corporation Limited and its subsidiary.

Lee Boyd Company Secretary