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Notes to the Financial Statements

Note 6 - Basic and diluted earnings per share

Note 1 - Significant Accounting Policies Note 2 - Other Income Note 3 - Costs and Expenses Note 4 - Income Tax Expense Note 5 - Dividends Note 6 - Basic and diluted earnings per share Note 7 - Receivables Note 8 - Inventories Note 9 - Other Assets Note 10 - Other Investments Note 11 - Intangibles Note 12 - Property, Plant and Equipment Note 13 - Payables Note 14 - Interest Bearing Liabilities Note 15 - Provisions Note 16 - Issued Capital Note 17 - Reconciliation of Equity Note 18 - Financial Instruments Note 19 - Employee and Director benefits Note 20 - Commitments Note 21 - Contingent Assets and Liabilities Note 22 - Auditor's Remuneration Note 23 - Particulars in relation to Controlled Entities Note 24 - Investments accounted for using the equity method Note 25 - Interest in joint venture operations Note 26 - Notes to the Cash Flow Statements Note 27 - Acquisitions Note 28 - Financing arrangements Note 29 - Related party information Note 30 - Segment reporting

The calculation of historical cost basic earnings per share for the year ended 31 December 2006 was based on the net profit attributable to ordinary shareholders of the parent entity of $465,976,000 (2005: $594,572,000) and a weighted average number of ordinary shares outstanding during the year ended 31 December 2006 of 270 million shares (2005: 270 million shares).

The calculation of replacement cost basic earnings per share for the year ended 31 December 2006 was based on the net replacement cost profit attributable to ordinary shareholders of the parent entity of $429,798,000 (2005: $414,071,000) and a weighted average number of ordinary shares outstanding during the year ended 31 December 2006 of 270 million shares (2005: 270 million shares).

There are no dilutive potential ordinary shares, and therefore diluted earnings per share equals basic earnings per share.