CSR announces impending changes to the board of directors

CSR Limited today announced impending changes to its board with non-executive directors John Wylie andCarolyn Hewson intending to retire in 2005. In addition, the directors announced thatKathleen Conlon has joined the board of the company as a non-executivedirector.

John Wylie will step down fromthe board in March 2005 to allow him to devote more time to his rapidly growinginvestment banking and corporate advisory activities at Carnegie, Wylie &Company.

CSR Chairman Ian Black burne said, “John is one of Australia’s leading investment bankers and we have beenvery fortunate to have had the benefit of his wise counsel on a range ofimportant issues over the past four years.”

Carolyn Hewsonwill relinquish her board role at the conclusion of the company’s annualgeneral meeting in July 2005 after serving CSR shareholders for ten years. Carolyn is CSR’s longest-serving director andhas chaired the company’s Safety Health and Environment Committee and in recentyears the Audit Committee.

“Carolyn Hewsonhas made a very significant contribution to CSR over a period of rapid changefor the company. She served withparticular distinction as chair of the Due Diligence Committee in the periodleading up to the successful demerger of Rinker GroupLimited in March 2003,” said Chairman Ian Blackburne.

Appointed to the board today isKathleen Conlon, who joins CSR as a non-executive director after seven years asa partner and director of The Boston Consulting Group (BCG). Kathleen led the Asia Pacific OperationsPractice of BCG and was previously the leader of the Sydney office. She brings over 20 years experience inprofessional consulting experience to the board having advised many ofAustralia’s leading industrial companies. Kathleen is also a council member of Chief Executive Women and wasawarded the Centenary Medal for leadership in business and commerce.

Chairman Ian Blackburne said hewas delighted to welcome Kathleen to the board. “Kathleen Conlon is one of the pre-eminent thought leaders in the areaof operations and change management both in Australia and globally. This experience will be valuable as CSRcontinues to lift operational and distribution performance to increaseproductivity and reduce costs across our businesses.”

Kathleen will stand forre-election at CSR’s annual general meeting in July 2005 and will be eligibleto serve as a non-executive director for up to 10 years in line with CSRpolicy.

CSR non-executive director JohnStory will replace John Wylie on the company’s Audit Committee in March. Theboard expects to appoint an additional non-executive director in early 2005.