COMPUTERSHARE ANNUAL REPORT 2008

2008 HIGHLIGHTS> Acted for all major IPOs in Hong Kong, managingover 9.5 million applications in 15 mega floats> Acquired QM Technologies> Wesfarmers AU$2.6 billion rights issue> Managed the largest IPO in Indian corporate historyand commenced managing the register of theleading Mutual Fund in India201.2+ 37 %Revenue250.5253.7319.5437.045.0+ 49 %EBITDA62.048.073.0108.402-13OverviewASIAYEAR IN REVIEW04 05 06 07 08(US$M)04 05 06 07 08(US$M)Computershare’s Asian businesses continued to perform well throughout the year, although a change in market conditions and aslowdown in IPOs (but not in other corporate actions) occurred in the second half.The Hong Kong business again performed strongly, achieving both revenue and EBITDA growth due to a consistent flow of IPOsfrom China.In October 2007 the Computershare International Information Consultancy Services Limited business was officially opened in Beijing.A number of Computershare’s China-focused client service functions will now be managed out of this office, providing an importantlocal presence for Chinese clients.The Indian business continued to prosper, maintaining profitability in the registry business and realising substantial growth in themutual fund services area. This business is now a clear market leader in both the equities and mutual funds registry space both interms of market share and most importantly client service and quality.Computershare’s joint venture in Japan with Mitsubishi UFJ Trust Bank continued to perform well in the shareholder identificationspace, providing substantial work for Georgeson.ACHIEVEMENTSComputershare’s momentum in the Hong Kong IPO market continued, capturing 84% of capital raised and 65% of new listings, andadding 46 new registry clients including SOHO China Limited, Fosun International Limited and China Railway Construction CorporationLimited. During the year the business managed four IPOs with over 500,000 applications each. Computershare’s electronic IPOapplication service and electronic announcement service for IPO application results both recorded increased adoption rates.The Indian Investor Services business successfully managed the float of Reliance Power Limited, handling well over 10 millionapplications.During the year the Indian Mutual Fund business seamlessly consolidated all investor record-keeping for the Unit Trust of India group,taking on an additional three million mutual fund accounts in the process.Plan Managers again won the majority of employee plans opportunities in China, particularly for Chinese companies listed overseas.With the latest changes in share plan regulations affecting overseas listed companies, Computershare is the only provider with aproven capability to operate under the new regulatory regime.In April 2008 the IML business established a sales capability in Hong Kong, expanding its presence in the Asian region and enhancing itsability to meet the increasing demand for international conferences in China.Georgeson achieved its first proxy solicitation mandate in Taiwan and continued to obtain mandates in China. Since May 2008additional business development resources have been added to drive further Georgeson opportunities in the region.OUTLOOK AND PRIORITIESWhile Hong Kong IPO activity is not expected to return to the levels of the first half of 2008 due to softening market conditions,a reasonable rate of corporate activity is expected.The Indian business will continue to grow in the next year, leveraging the excellent foundation provided in FY2007.Computershare will continue to leverage its presence in growing markets in the region through excellent client relationships to offervalue-added services.14-36Governance37-88Financials89-92Reports93-96Further InformationPAGE 11