A final dividend was declared of 45 cents per share franked at 21 cents – a rise of 32%. The final dividend brings the total dividend for 2004 to 68 cents per share – an increase of 31% compared to the dividend for 2003.

Additionally, Orica has announced an on-market share buy-back of up to $250 million as a tax effective way of returning funds to shareholders.

The profit, before significant items, represents earnings per share of $1.19 and a return on shareholders’ funds of 23% compared with 20% last year. Sales revenue of $4.6 billion was up 16%.

Orica Managing Director and Chief Executive Officer, Malcolm Broomhead, said that the result showed the strength of Orica’s four business platforms.

"In 2004, each of our four businesses achieved record results. Chemicals topped $1 billion in revenue in a single year for the first time while Orica Consumer Products achieved its first $100 million annual profit. Mining Services and Incitec Pivot also grew strongly.

"Successful growth projects were also a highlight. These included organic growth at Kooragang Island in New South Wales and Yarwun in Queensland, expansion into new geographies and acquisitions including Bronson and Jacobs food and speciality chemicals business and the Marplex Specialty Polymers Group. In total we committed $305 million of capital as a strong foundation for growth" he said.

"In looking towards 2005, we anticipate continued strong earnings momentum driven by underlying industry growth, productivity improvements, revenue increases through organic growth and the benefits of recent acquisitions."

Mr. Broomhead said the success of the company was achieved through the employees continuing to embrace Orica's performance culture involving the Principles of Safety, Health and the Environment, Commercial Ownership, Creative Customer Solutions and Working Together.

November 3, 2004

• Investors: Noel Meehan (03) 96657844 / 0413 187 000
• Media: Stewart Murrihy (03) 96657538 / 0412 675 510

Web site: www.orica.com