Revised Dividend Reinvestment Plan and Share Acquisition Scheme

30th April, 1998

The Directors of Orica Limited today announced the introduction of a revised Dividend Reinvestment Plan (DRP) and a Share Acquisition Scheme (SAS) to assist ordinary shareholders to increase their shareholding in the Company. Both schemes will be operational at the time of payment of the interim dividend in July 1998. Directors have determined that no discount will be applied for shares acquired under either scheme for the time being, however, no brokerage, commission,stamp duty or other transaction costs will be payable by eligible shareholders.

The DRP and the SAS will be available to all ordinary shareholders other than those in the USA and Canada and those who are resident in other countries where participation is inconsistent with local securities laws.

Details of the DRP will be sent to all shareholders with the interim results in early May and in July details of the SAS will be sent at the time of payment of the interim dividend.