ST BARBARA LIMITED — Capital/Financing Update 2009

Mar 3, 2009

St Barbara Limited

ABN 36 009 165 066

4 March 2009

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The Manager Company Announcements ASX Limited Level 45, South Tower, Rialto 525 Collins Street Melbourne VIC 3000

Dear Sir/Madam

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

We refer to the recent placement of 189,600,000 fully paid ordinary shares ( placement shares ) at A$0.41 per share, raising A$77,736,000 before issue costs of A$2,720,760.

In making this placement, the Company relies on section 708A(5) of the Corporations Act 2001 (Cth) ( Act ) and gives notice under section 708A(5)(e) of the Act of the following details:

1. The Company issued the placement shares without disclosure to investors under Part 6D.2 of the Act;

2. As at the date of this notice, the Company has complied with: a) the provisions of Chapter 2M of the Act as they apply to SBM; and b) section 674 of the Act; and

3. As at the date of this notice, there is no excluded information (as defined in section 708A(7) or 708A(8) of the Act) which is required to be disclosed by the Company.

Yours faithfully

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Ross Kennedy Company Secretary

LEVEL 21, 90 COLLINS STREET, MELBOURNE VIC 3000 LOCKED BAG 9, COLLINS STREET EAST VIC 8003 TELEPHONE + 61 3 8660 1900 FACSIMILE + 61 3 8660 1999