ST BARBARA LIMITED — Major Shareholding Notification 2010

Jun 29, 2010

Fax To: Australian Stock Exchange

Company Announcements Office Attention:

Fax No: 00 612 9347 0005 / 9778 0999

No. of pages: (including cover) 3

29th June 2010 Date:

Sender: Tino Isnardi

In the event of any query, please call the sender on +44 (0)20 7389 0009

Dear Sir,

Please find enclosed completed Form 605 Notice of Ceasing to be a Substantial Holder relating to our group holding in St Barbara Mines.

A copy has also been sent directly to the company.

Please advise if you have any queries regarding this notice,

Regards,

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name / Scheme	ST BARBARA LTD
ACN/ARSN
1. Details of substantial holder (1)
Namo	BAKER STEEL CAPITAL MANAGERS LLP (CLIENTS OF AND ASSOCIATED OR CONNECTED PARTIES)
ACN/ARSN (if applicable)
The holder ceased to be a substantial holder on	28-Jun-10
The previous notice was given to the company on	13-May-10
The previous notice was dated	13-May-10

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the compnay or scheme. since the substantial holder was last required to give a substantall holding notice to the company or scheme are as follows:

Date ofChange	Person whose relevant interestlchanned	Natura of change (4)	Consideration given inrelation to change (5)	(Class (6) and numberlof securities affected	Person's votes affected
	[28/06/2010 Baker Steel Gold Fund	lmarket sale	AUD 259,269	ardinary shares!	$-710.000$
	28/06/2010 RIT Capital Partners PLC	market sale	AUD 189,887	ordinary shares	-520.000
	28/06/2010 Genus Dynamic Gold Fund	lmarket sale	AUD 370,646	ordinary shares	$-1.015.000$
	28/06/2010 CF Ruffer Baker Steel Gold Fund	lmarket sale	AUD 853.763	lordinary shares	-2,338,000

3. Changes in association

The persons who have become associates (3) of, coased to be associates of, or have changed the nature of their association (7) with, the substantail holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)-- ------------	---------------------------------------__________Nature of association---------------------------
------	---------------------------------------
___	---------------------------------------
$\cdots$	---------------------------------------
________	-----------------
-----	------
____________	--------

4. Addressee

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

._________Nams	.--------Address------------___________
for all entities listed$-1$.	c/o Baker Steel Capital Managers LLP
----______-------	-------------186 Jermyn Street, London, SW1Y 6JD._______________________________________

Signature

print name	Tino Isnardi______	capacity___	Head of Trading
sign here	Isnade.	date	29-Jun-10
			A 2004 - COURT AND RESIDENT

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 4 of the form.

(2) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

(3) See the definition of "associate" in section 9 of the Corporations Act 2001.

(4) Include details of:

(a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, 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

(b) 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 the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

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

(5) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired 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.

(6) The voting shares of a company constitute one class unless divided into separate classes.

(7) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.