ST BARBARA LIMITED — Board/Management Information 2004

Jul 22, 2004

ST BARBARA MINES LIMITED

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

Changes to St Barbara Board

Subsequent to the conclusion of the General Meeting of the shareholders of the Company held on 20 July 2004 at 10.00 am, the new Board of Directors of the Company comprising Mr Mark Wheatley, Mr Hank Tuten, Mr Colin Wise and Mr Eduard Eshuys has met and wishes to announce:

• Mr Eduard Eshuys has been appointed Managing Director of the Company on terms to be agreed between Mr Eshuys and the Board of Directors;
• $\blacksquare$ Mr Colin Wise has been appointed Non-Executive Chairman of the Company on terms to be agreed between Mr Wise and the Board of Directors:
• $\blacksquare$ The new Board has commenced a review of the Company including the terms of employment of the former Executive Chairman of the Board, Deloitte has been appointed to assist the Board with that review; and
• Further to the Company's announcement of 25 May 2004 referring to discussions relating to the formation of a merged global group, there are no ongoing discussions involving the Company, or in which the Company is participating, in any way relating to the formation of a merged global group. The Company has no current intention to pursue or initiate any such discussions or plans.

Lee Bovd Company Secretary

23 July 2004