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ST BARBARA LIMITED Capital/Financing Update 2004

Jul 19, 2004

65749_rns_2004-07-19_bbda6b4b-0969-4e87-a72f-352c6db86ba6.pdf

Capital/Financing Update

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ST BARBARA MINES LIMITED

ASX SHAREHOLDERS REPORT

Enquiries regarding this report may be directed to:

Stephen W. Miller

Executive Chairman Telephone (08) 9476 5555 Overseas +61 8 9476 5555 or Colin G. Jackson Investor Relations Telephone 0417 929 107

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

Dollar values in this report are Australian dollars unless otherwise stated.

Issue and Allotment of Shares

Further to the Company's previous announcement in respect of its private placement, pursuant to Listing Rule 7.1, we advise that the following fully paid ordinary shares have been issued and allotted.

Ocean Resource Capital Holdings Plc 17,480,547
Clients of Gillon Securities Ltd 16,750,000
Spartan Nominees Pty Ltd 13,250,000
Spartan Nominees Pty Ltd (No. 2 account) 12,050,000

These share issues represent total proceeds of \$2,486,105. These funds will be applied to working capital.

Yours faithfully,

Lee Bovd

Company Secretary

20 July 2004