Sale of Surplus Orica Land at Deer Park

30 August 2004

Orica Limited today announced that it had signed an unconditional contract for the sale of surplus land located at its Deer Park (Melbourne) site for $35 million.

The estimated profit on sale after tax is approximately $28 million and will disclosed as a significant item in the Financial Statements for the year ending 30 September 2004. The profit is before finalisation of environmental clean up provisions.

The property has been purchased by the Investa Property Group and full settlement will occur on 8 September 2004.

The property comprises 194 hectares of vacant land, and was originally used as farmland, and in more recent times for, magazine storage and burning ground. The property is surplus to Orica’s business requirements and does not form part of the Deer Park manufacturing facility.