ST BARBARA LIMITED — Share Issue/Capital Change 2003

Dec 4, 2003

ST BARBARA MINES LIMITED

ACN 009 165 066

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 Level 2, 16 Ord Street West Perth Western Australia 6005 Telephone (08) 9476 5555 Overseas +61 8 9476 5555

Cancellation of Employee Options

St Barbara Mines Limited announces that the following employee options have been cancelled:

• 1,550,000 options expiring on 26 April 2007; $\bullet$
• 750,000 options expiring on 17 January 2008.

Yours faithfully,

Alan Rule

Company Secretary

4 December 2003