ST BARBARA LIMITED — Major Shareholding Notification 2003

Dec 8, 2003

To:	Announcements Officer	From:	lan Burvill	Re:
Fax:	1900 999 270	Pages: 3		м. AB
	Company: Australian Stock Exchange	Date:	December 9, 2003	Gг
. Re	St Barbara Mines - Form 604	cc.		76 W. AL

I PLEASE COMMENT U PLEASE RECYCLE $\square$ URGENT $\square$ FOR REVIEW $\square$ PLEASE REPLY

FAX

source Capital Funds anagement Pty Ltd N 25 098 091 715

round Floor Kings Park Road est Perth WA 6005 ustralia

Postal Address: PO Box 524 West Perth WA 6872 Australia

$\overline{\mathbf{1}}$

Telephone: (08) 9485 2770 Facsimile: (08) 9485 2779 rcf@rcfm.com.au Email: www.resourcecapitalfunds.com

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

	St Barbara Mines Limited
To Company Name/Scheme
ACN/ARSN	ACN 009 165 066
1. Details of substantial holder(1)
Name	Resource Capital Fund II L.P.
ACN/ARSN (if applicable)
There was a change in the Interests of the substantial holder on	5/12/2003
The previous notice was given to the company on	2/12/2003
The previous notice was dated	1/12/2003
2. Previous and present voting power

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 a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power 15
Ordinary	129.742.017	24.06%	129.742.017	22.60%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
5/12/03	Resource Capital Fund II L.P.	Dilution resulting from the allotment of shares to Ocean Resources Capital Holdings Limited upon its partial conversion of its convertible note.	Nil	129,742,017 fully paid ordinary shares	129,742,017

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (3)	Nature of relevant Interest $(6)$	Class and number of securities	Person's votes
Resource Capital Fund II LP.	Resource Capital Fund II LP	Resource Capital Fund II LP	Owner	129.742.017	129.742.017

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (If applicable) –	--- Nature of association
--	--	$-$
------------	---

6. Addresses

The addresses of persons named in this form are:

Name	Address
Resource Capital Fund II L.P. .	1400 Sixteenth Street, Sulte 200 Denver CO 80202 USA
	----

Signature

print name	lan Burvill	capacity authorised representative
sign here	. Je Barrell	date 9 / 12 / 03
		---

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. 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 6 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.
• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• (4) The voting shares of a company constitute one class unless divided into separate classes.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• (6) Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, $(a)$ 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
• 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 (b) the securities to which the relevant interest relates (indicating dearly the particular securities to which the qualification applies).

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

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired $(7)$ 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.
• If the substantial holder is unable to determine the identify of the person (eg. if the relevant interest arises because of an option) write "unknown". (B)
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. 79)