GIP Gippsland

RNS Number:6053O
Gippsland Limited
08 July 2005



8 July 2005

GIPPSLAND LIMITED

SALE OF UNMARKETABLE PARCELS

Gippsland Limited has today posted the attached letter to shareholders listed on
its Australian share register holding less than 4,166 shares. This letter has
been lodged with Australian Stock Exchange.

For further information contact:

RJ (Jack) Telford
Gippsland Limited
Tel: +61 (0)8 93898611
jtelford@gippslandltd.com
www.gippslandltd.com

Dear Shareholder

ELIMINATION NOTICE - SALE OF UNMARKETABLE PARCELS

ASX Listing Rules and the Company's Constitution empowers directors of Gippsland
Limited ("Gippsland" or "the Company") to sell the security holdings of any
member who holds less than a marketable parcel of securities ("Small
Shareholder") provided the Small Shareholder has:

(a) been issued with an Elimination Notice and Notice of Retention; and

(b) not returned their Notice of Retention by 5.00 pm on 19 August 2005
    ("Retention Date")

Gippsland would like to sell on your behalf, your unmarketable parcel of shares
in the Company.

As at 6 July 2005 ("Notice Date") a marketable parcel as defined by the
Australian Stock Exchange Listing Rules was at least 4,166 shares (representing
$500 in value based upon 12 cents per share).

Your shareholding (which is set out on the Notice of Retention on the reverse
side of this notice) was less than a marketable parcel at the Notice Date.

To assist in reducing the large Australian shareholder base and the
administrative costs associated with that base, Rule 3.2 of the Company's
Constitution provides the Company with the power to sell unmarketable parcels of
shares, at the Company's cost, and to remit the proceeds to the shareholders
whose shares have been disposed of in this manner. In many cases, such a sale
may benefit the shareholders involved as it will allow their shares to be
readily sold on the ASX (which they might otherwise find difficult to do due to
the small size of their shareholding) and there will be no brokerage costs
payable by them on the sale (as these will be borne by the Company).

The sale of unmarketable parcels may reduce the number of shareholders on the
Australian Share Register by up to 828, which is approximately 52% of the total
number of shareholders of the Company.

This notice is to inform you, and all other holders of unmarketable parcels of
shares on the Australian Share Register, that the Company intends to invoke the
provisions of Rule 3.2 of the Company's Constitution and sell your unmarketable
parcel. If you do not wish for your shares to be sold you must complete and
return the Notice of Retention on the reverse of this notice to our Share
Registry by 19 August 2005.

If you wish your shareholding to be sold there is no need to do anything. As
soon as is practical after 19 August 2005 the Company will endeavour to arrange
the sale at the prevailing market price and the proceeds from that sale will be
remitted to you.

Should you have any queries in relation to this matter please contact the
Company by telephone on (08) 9389 8611 or by facsimile on (08) 9389 8612 or the
Company's share registry, Security Transfer Registrars by telephone on (08) 9315
2333 or by facsimile on (08) 9315 2233.


GIPPSLAND LIMITED



RS (Sam) Middlemas
Company Secretary


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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