Top 20 Shareholders as at 31 March 2008

SHAREHOLDER

UNITS

% OF IC

RANK

HSBC Custody Nominees (Australia) Limited

16,948,165

18.11

1

Oxiana Investments Pty

12,800,000

13.68

2

Braidwood Investments (WA) Pty Ltd

9,100,001

9.72

3

Hookipa Pty Ltd

6,285,001

6.71

4

Robert Holmes Watkins

5,750,001

6.14

5

Lujeta Pty Ltd Margaret Account

3,500,000

3.74

6

Mr Robert Anthony Healy

3,000,000

3.21

7

ANZ Nominees Limited

2,909,668

3.11

8

Seatrain Holdings Limited

2,450,000

2.62

9

Merrill Lynch (Australia) Nominees Pty Limited 2,000,000 2.14 10
UBS Nominees Pty Ltd

1,879,100

2.01

11

Ms Lynette Donaldson

1,632,000

1.74

12

National Nominees Limited

1,307,000

1.40

13

Citicorp Nominees Pty Limited

1,247,529

1.33

14

Equity Trustees Limited SGH Micro Cap Trust A/C

1,000,000

1.07

15

Wersman Nominees Pty Ltd

1,000,000

1.07

16

UBS Wealth Management Australia Nominees Pty Ltd

970,000

1.04

17

ANZ Nominees Limited SL

851,000

0.91

18

Merill Lynch (Australia) Nominees Pty Limited

813,900

0.87

19

Mr Mark Ashley Jewell 600,000 0.64 20
TOTAL
76,043,365
81.26