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Ausdrill is a diversified mining and services company providing leading edge services in mining, drill & blast, exploration, procurement & logistics, manufacturing, telecommunications and automotive industries with toperations in Australia, United Kingdom & Africa.

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AMS: Yatela Project in Mali, West Africa

Through its wholly-owned subsidiary African Mining Services (AMS), Ausdrill has received a letter of intent from Yatela SA, a joint venture between AngloGold Ashanti, IAMGOLD and the Malian Government, to award a negotiated mining contract for the Yatela Project in Mali, West Africa.

The initial contract, wich is expected to start on 1 july 2008, will generate approximately US$40 million in revenue over two and a half years.

Under a separate agreement, AMS will purchase the previous contractor's equipment and spares for approximately US$19 million. AMS will also take over most of the previous contractor's staff. AngloGold Ashanti. one of the largest mining companies in Africa, operates the mine.

Ausdrill Ltd Takeover Bid Update

On Wednesday 21 May 2008, Macmahon Holdings Limited announced an unsolicited takeover offer for all of the shares in Ausdrill Limited (ASX Code: ASL).

The Board will continue to review the proposed offer with its advisors and will provide further advice to shareholders in due course. Meanwhile shareholders are encouraged to take no action.