looking to rise again today good depth this mornin, page-3

$$$$$ add $100 million to order book $$$$$ Macmahon add $100 million to order book

Macmahon’s order book continues to grow, with the award of a new contract plus the extension of a
major open cut contract with a combined value of $100 million.
Bendigo
Macmahon has entered into a two-year contract with Bendigo Mining to prepare the Bendigo Mine for
commercial gold production, which is planned to commence at the end of 2005. It will also involve
extending the underground access for the planned ramping up of production.
Macmahon has long been associated with Bendigo Mining having developed the 5.5 kilometre decline
and associated drives required for the exploration work which resulted in the development of the New
Bendigo Gold project.
Mobilisation has already commenced and works will start on site in December 2004.
“Long term relationships that deliver value to clients are an integral part of the Macmahon strategy. We
are delighted to have been awarded another two year contract with Bendigo Mining”, Mr Bowen said.
Mt Whaleback
Macmahon’s open cut division has been awarded a 12 month extension by BHP Billiton Iron Ore for
major works at Mt Whaleback as part of their expansion project. The work will involve the movement of
some 45 million tonnes of material between now and February 2006.
Macmahon has been on site at Mt Whaleback since November 2003.
“The contract extension is a reflection of Macmahon’s capability to deliver on client expectations
including safety, production and integration into the local community”, Mr Bowen said.
Outlook
“These new contracts take the company’s order book to $760 million. We now have contracts in hand
which will deliver $525 million of revenue for 2005. Combined with further expected contract extensions
and new work revenue for 2005 will now exceed $580 million (up from $434 million last year)”.
“Based on our forecasts we now expect profit in 2005 to increase around $19 million (a 65% uplift on last
years $11.6 million)”, Mr Bowen said.
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