ST BARBARA LIMITED — Major Shareholding Notification 2008

Feb 21, 2008

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To St Barbara Limited (SBM) ACN/ARSN 009 165 066

1. Details of substantial holder

Name	Barclays Group lodged by Barclays Global Investors Australia Limited
ABN	33 001 804 566 (Barclays Global Investors Australia Limited)

The holder became a substantial holder on 07 February 2008.

2. Details of 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 an associate had a relevant interest on the date the substantial holder became a substantial holder are as follows:

Class of securities	Number of securities	Person's votes	Voting power
Ordinary	49,223,865	49,223,865	5.02%

3. Details of relevant interests

The nature of the relevant interest the substantial holder had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest	Class	and	number	of
		securities
Barclays Group	Fund Manager – see Annexure A			Ordinary 49,223,865

4. Details of present registered holders

The persons registered as holder of the securities referred to in paragraph 3 above are as follows:

Holder of	Registered holder of securities	Class and number of
relevant interest		securities
Barclays Group	JP Morgan & other custodians – see Annexure A	Ordinary 49,223,865

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holderofinterest	relevant	Date of acquisition	ConsiderationCash/Non-cash	Class and number ofsecurities
Barclays Group		Past 4 months	Average price $0.84	Ordinary 49,223,865

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Barclays Global Investors Australia Limited	Level 43, 225 George Street, Sydney NSW 2000

Signature

Company Secretary Date Barclays Global Investors Australia

_____________________________________ 21 February 2008

This is "Annexure A" of 1 page referred to in Form 603 Notice of initial substantial holder

Relevant interest in St Barbara Limited (SBM) held by members of the Barclays Group.

The list of Barclays entities and their respective holdings are as follows:

ASX			%
CODE	STOCK NAME	HOLDING		COMPANY
SBM	St Barbara Limited	823,103	0.08	Barclays Global Investors, N.A.
SBM	St Barbara Limited	12,982	-	Barclays Global Fund Advisors
SBM	St Barbara Limited	142,810	0.01	Barclays Capital Inc
SBM	St Barbara Limited	9,267,546	0.93	Barclays Capital Securities Ltd
SBM	St Barbara Limited	38,977,424	4.00	Barclays Global Investors Australia Ltd
		49,223,865	5.02

The JP Morgan Chase Bank Inc. and various other custodians (Custodians) hold shares in SBM as custodian and for which the Barclays Group are either:

• the responsible entity or trustee of pooled investment products such as registered managed investment schemes (Funds); or
• the investment manager of Portfolios held for a number of institutional investors. The institutional investors are generally superannuation funds regulated under the Superannuation Industry Supervision Act 1993.

The holding of shares in SBM was acquired as part of the wide portfolio of Australian shares and units acquired for the Funds and the Portfolios.

The members of the Barclays Group and the Custodians may hold relevant interests due to the capacity of these entities to dispose of the shares in SBM.

Each investor in a Fund owns an undivided interest in the Fund's assets, no client directly owns any asset of the Fund. The unitholding of each Fund varies from time to time as clients enter and withdraw from the Funds. The various institutional investors with portfolios delegate the management of the portfolios to the members of the Barclays Group.

Company Secretary Date Barclays Global Investors Australia

_____________________________________ 21 February 2008