Sydney

Level 41, Aurora Place 88 Phillip Street Sydney NSW 2000 Australia www.challenger.com.au

telephone: 02 9994 7000 facsimile: 02 9994 7777

The Manager Companies Announcement Platform Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

16 September 2005

Dear Sir

Re: Notice of initial substantial holder $\sim$ Globe International Limited (GLB)

We enclose notice of initial substantial holder in Globe International Limited. This notice is given by Challenger Financial Services Group Limited and each of its subsidiaries named in Annexure 1 to this notice.

Yours faithfully Gerard Browne

Deputy Company Secretary

attach

Malbourne

Level 41, 101 Collins Street Melbourne VIC 3000 telephone 03 8616 1000

Level 9, 175 Eagle Street Brisbane QLD 4000
telephone 07 3218 8000
facsimile 07 3220 3132

Brisbane

Perth

Level 2, 141 St Georges Terrace
Perth WA 6000 telephone 08 9480 2800
facsimile 08 9322 9289

Adelaide

Level 9, T & G Bullding
82 King Street
Adelaide SA 5000 talephone 08 8211 7777 facsimile 08 8212 1651

Form 603

Corporations Act 2001 Section 671B

1. Details of voting power
   The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

J,

$\pmb{\cdot}$

$\ddot{\phantom{0}}$

ł, É,

ł

$\frac{1}{2}$ $\hat{\boldsymbol{\beta}}$

$\frac{1}{2}$

P,

1. Consideration
   The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a
   substantial holder is as follows:

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

7. Addresses

The addresses of persons named in this form are as follows:

Signature

$\overline{a}$

$\mathcal{O}(\mathcal{A}^{\mathcal{A}})$ . The contribution of the contribution of the contribution of $\mathcal{A}$

ASXASIC Form 603~GLB 160905

$\mathcal{A}^{\mathcal{A}}$ and $\mathcal{A}^{\mathcal{A}}$ are the set of the set of the set of the set of $\mathcal{A}$

Annexure 1

This is page-1 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 16/09/2005

Gerard Mowne
Deputy Company Secretary

ł. $\ddot{\phantom{a}}$

Ì

Annexure 1

This is page 20 [3 pages of Annexure 1 referred to in Form 603 signed by me and dated 13/09/2005

Gerard Browne
Deputy Omgany Secretary

$\cdot$

Annexure 1

$\bar{z}$

This is page 3 of 3 pages of Annexure 1 referred to in Form 603 signed by me and dated 13/09/2005

Gerard Browne