Portman
Limited

ACN 007 871 892
ABN 22 007 871 892

                 
 
   Level 11
        
31 May 2007
   The Quadrant
        
 
   1 William Street        
 
   Perth, 6000
        
 
   Western Australia
        
Via ASX Online
   GPO Box W2017
        
(2 pages in total)
   Perth, 6001
        
 
   Tel:
     61 8 9426 3333  
 
   Fax:
     61 8 9426 3344  

The Announcements Officer
Australian Stock Exchange
(Sydney) Limited
Level 10, 20 Bond Street
SYDNEY NSW 2000

Dear Sir,

OUTCOME OF AGM RESOLUTIONS

Please be advised that four Ordinary Resolutions put to shareholders at the Annual General Meeting (“AGM”) today were carried without amendment on a show of hands.

The valid proxy votes received no later than 10.00am on Tuesday, 29 May 2007 in respect of each resolution put to the meeting are detailed below:-

Resolution 1

To adopt the Remuneration Report for the year ended 31 December 2006. The vote on this resolution is advisory only.

Proxy Votes

                 
i)
   For
     145,845,508  
ii)
   Against
     4,154,589  
iii)
   Abstain
     8,762,800  
iv)
   Chairman’s Discretion (for)
     7,784  
v)
   Proxy’s Discretion
     900  

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Resolution 2

To re-elect as a director Mr Joseph Carrabba, who, having been appointed as a director by the Board since the last annual general meeting, retires in accordance with the Company’s constitution and, being eligible, offers himself for re-election.

Proxy Votes

                 
i)
   For
     150,131,430  
ii)
   Against
     27,000  
iii)
   Abstain
     8,762,800  
iv)
   Chairman’s Discretion (for)
     7,784  
v)
   Proxy’s Discretion
     900  

Resolution 3

To re-elect as a director Ms Mary Lauren Brlas (known as Ms Laurie Brlas), who, having been appointed as a director by the Board since the last annual general meeting, retires in accordance with the Company’s constitution and, being eligible, offers herself for re-election

Proxy Votes

                 
i)
   For
     148,364,119  
ii)
   Against
     1,794,311  
iii)
   Abstain
     8,762,800  
iv)
   Chairman’s Discretion (for)
     7,784  
v)
   Proxy’s Discretion
     900  

Resolution 4

To re-elect as a director Mr David H Gunning who retires by rotation in accordance with the Company’s constitution and, being eligible, offers himself for re-election

Proxy Votes

                 
i)
   For
     149,827,330  
ii)
   Against
     331,100  
iii)
   Abstain
     8,762,800  
iv)
   Chairman’s Discretion (for)
     7,784  
v)
   Proxy’s Discretion
     900  

Details of all resolutions referred to above are set out in the Notice of AGM which was sent to the ASX in April 2007.

Yours faithfully

C M Rainsford
Company Secretary

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