page 1/2 I 5 July 2001

Form 604

Corporations Act 2001

Section 6718

Notice of change of interests of substantial holder

ISELECT LIMITEDTo Company Name/Scheme

ACN /ARSN

1. Details of substantial holder(l)

Name PARAD|CE TNVESTMENTACN/ARSN (if applicable) ABN 64 090 148 619

MANAGEMENT PTY LTD

There was a chanqe in the interests of thesubstantial holder on

The previous notice was given to the company 0n

The previous notice was dated

2. Previous and present voting power

a3t12t14

18rAl 1416/ 0q 14

The total number 0f votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interestin when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4) Previous notice Present notice

Person s votes Votrnq oower (5) Person's vote: Votino oower (5)

FPO 13,280,209 5.09o/" 18,973,669 7.2560/o

3. Changes in relevant interests

Particularsofeachchangein, orchangeinthenatureof,arelevantinterestofthesubstantialh0lderoranassociateinvotingsecuritiesofthecompanyorscheme,sincethesubstantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange

Person whose

relevant interestchanged

Nature ofchange (6)

Considerationgiven in relation

to change (7)

Class and

number ofsecurities

aflected

Person's votes

affected

5EE ANNEXURE

il. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofrelevantinterest

Registeredholder ofsecurities

Person entitledto be registered

as holder E)

Nature ofrelevantinterest (6)

Class andnumber ofsecurities

FPO

Person's votes

SEE ANNEXURE 1

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604 page 212 15 -luly 2001

5. Changes in association

The persons who have llecome associates (2) of, ceased to b€ associates of, or have changed the nature ofthetr association (9) with, the substantial holder in relation to votinglnterests in the company or scheme are as foljows:

Name and ACNiARSN (if applicable) Nature of association

6. Addresses

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

Name Address

Paradice lnvestment Mgt P/L L12, 139 Macquarie Street, SYDNEY NSW 2000

Signature

TONY HAMMOND capacity COMPANY SECRETARYprint name

sign here

(1)

0r12 t14

DIRECTIONS

lf there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager afd trustee of anequitytrust),thenamescouldbeincludedinanannexuretotheform. lftherelevantinierestsofagroupofpersonsareessentiallysimilar,they-maybereferredtothloughout the form as a specifically named group lf the membership of each group, with the namei and addresses of members i( clearly set out in paragraph 6 of thelorm.

See the definition of "associate" in section g of the Corporations Act 200-l .

seethedefinitionor"reievantinteresr"insections608and6TlB(7) orrhecorporations Arlz0a1.

The voting shares of a c0mpany constitute one class unless divided into separate classes.

The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

lnclude details of:

(a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. lf subsection 671 B(4) applies, a copy of anydocument setting out the terms of any relevant agreement, and a statemenl by the person giving full and accurate details of any contract, schehe or

"

arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

(b) any quallfication of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal 0f the securities towhich the relevant interest relates (indicating clearly the particular securitjes t0 which the qualification applies).

See the definition of "relevant agreement" in section g ofthe Corporations Act 200i.

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, becom eentitledt0receiveinrelationtothatacquisition. DetarlsmustbeinCludedevenifthebenefitisconditional onthehappeningornotofacontingency. Detailsmustbeincluded ofany benefit paid on behalfofthe substanlial holder or its associate in relation to the acquisitions, even ifihey ar"e not paid directly to the person from whomthe relevant interest was acquired.

lf the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

Give details, if appropriate, of the present association and any change in that associati0n since the last substantial holdinq notice.

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(3)

(4)

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(6)

(7)

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