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

Dear Sir

Re: Notice of ceasing to be a substantial holder $\sim$ B DIGITAL LIMITED (BBB)

We enclose notice of ceasing to be a substantial holder in B DIGITAL LIMITED. This notice is given by Challenger Financial Services Group Limited and each of its subsidiaries named in Annexure 1 to this notice.

Yours faithful Gerard Arowne Deputy Company Secretary

attach

Melbourne

Level 41, 101 Collins Street Melbourne VIC 3000
telephone 03 8616 1000 facsimile 03 8616 1111

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

Adefaide

Level 9, T & G Building 82 King Street
Adelaide SA 5000 telephone 08 8211 7777 facsimile 08 8212 1661

30 June 2005

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

3. Changes in association

The following persons who have become associates (3) or, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

4. Addresses

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

Signature

capacity Deputy Company Secretary printname Gerard Browne

signature

date 30/06/2005

ASXIASIC Form 605 ~ BBB+ceased ~ 29.06.05

Annexure 1

l,

This is page 1 of 3 pages of Annexure 1 referred to in Form 605 signed by me and dated 30/06/2005.

Gerard Browne

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Annexure 1

This is page 2 of 3 page Spot Annexure 1 referred to in Form 605 signed by me and dated 30/06/2005.

Gerard Browne ŗ.

Annexure 1

This is page 3 of 3 pages of Annexure 1 referred to in Form 605 signed by me and dated 30/06/2005.

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