AUSDRILL LIMITED

2009 FINANCIAL YEAR REPORT

Ausdrill Limited (ASX: ASL) has today reported a record profit result for the year ended 30 June 2009, defying the challenging economic environment to deliver a net profit after tax of $40.245m.

The 2009 operating profit is a 14% increase from the previous year, and reflects Ausdrill$B!G(Bs performance as an independent diversified services provider with a solid earnings base and blue chip clientele. Ausdrill$B!G(Bs EBIT margin on sales for the year was 14.5%.

On a comparative basis, the Company has achieved the following increases from the year ending June 2008 to June 2009:

$B!&(B         Revenue is up 30% from $391.0m to $509.0m

$B!&(B         EBITDA is up 43% from $88.5m to $126.1m

$B!&(B         Profit before tax is up 14% from $50.5m to $57.7m

$B!&(B         Net profit after tax is up 14% from $35.3m to $40.3m

$B!&(B         Earnings per share is up 2% from 22.72 cents to 23.23 cents

$B!&(B         Declared a final dividend of 6.0 cents per share (fully franked)

The final dividend of 6.0 cents per share (fully franked) will be paid on 6th November, 2009. Total dividends for the year are consistent with the previous period at 11.0 cents per share.

Ausdrill Chairman Terry O$B!G(BConnor said the 2009 period had been impacted by the global economic crisis and the resultant liquidity crisis.

$B!H(BAusdrill$B!G(Bs diverse range of services to the mining industry and our base of blue chip clientele have enabled us to deliver a record profit result in a very difficult environment. We have also been able to significantly reduce capital expenditure in the second half and focused on controlling costs. Ausdrill$B!G(Bs balance sheet remains strong, and the Company is well positioned to fund further growth opportunities,$B!I(B Mr O$B!G(BConnor said.

2009 Financial and Operational summary

While Ausdrill has continued to fund growth during the period, the Company has maintained a solid balance sheet with cash at June 30 of $44.7 million and net debt to equity gearing of 54% and EBIT to interest cover of 4.6 times. This has placed the Company in an excellent position to fund further growth opportunities.

Included in the pre$B!>(Btax result are unrealised foreign exchange gains for the year of $3.101 million, Ausdrill$B!G(Bs share of a once off bad debt provision within our 50% associate African Underground Mining Services of $0.851 million, and costs associated with the defence of the hostile Macmahon (ASX:MAH) takeover bid of $1.727 million.

Also included within the results are once off realised foreign exchange gains of $11.883 million arising from the weakness in the US dollar and Ausdrill$B!G(Bs ability to capitalise on that situation as a consequence of its presence in Africa.

During 2009, the impact of the economic crisis resulted in a reduction in the volume of work (particularly in the mineral exploration arena), and increased pressure on margins. During the period, operations ceased at two projects where Ausdrill was engaged.

However, Ausdrill has been successful in securing new work during the period. In July 2009, Ausdrill commenced a US$150 million contract for drill and blast at the Geita Gold Mine in Tanzania for AngloGold Ashanti and is very excited about returning to East Africa and the growth prospects in this area. The Company has taken over the existing fleet and workforce associated with the drill and blast activities on site, and has deployed specialist equipment to service the project going forward. A significant portion of the capital for this project was expended in the period to June 2009.

On the 17th August 2009, the Company announced a proposed merger under which Ausdrill will acquire all the shares of Brandrill Limited (ASX:BDL) implemented by way of a scheme of arrangement. Brandrill shareholders will receive one Ausdrill share for every 14.5 Brandrill shares they own. The Board believes this industry consolidation is a natural fit and an exciting opportunity for both Ausdrill and Brandrill to deliver a diversified mining services group. The two Companies run complementary businesses and the potential synergies arising from the transaction are significant, particularly for Ausdrill$B!G(Bs manufacturing businesses.

Since the announcement, Ausdrill management has visited each major Brandrill site to talk to employees and answer questions on the merger and is excited about the prospect available to the expanded group.

The Company also acquired 100% of Synegex, a private specialist explosives company in July 2009. Synegex provides Ausdrill with the ability to service explosives requirements for civil clients and smaller mining projects in regions where traditional suppliers are unable to provide a competitive service.

Ausdrill$B!G(Bs fleet utilisation is also improving. From its Australian fleet, Ausdrill has only five exploration rigs currently available for work that have not been committed. All remaining operational exploration equipment is working. Likewise following the relocation of 10 low hour trucks from Africa to Australia, by September all our available mining fleet will be utilised. Our blasthole fleet is also close to full utilisation, with another order for three DTH drills placed recently to supplement our existing fleet.

Outlook

Whilst many of the world economies remain in recession and the global markets are yet to fully recover, the long term outlook for commodities is still positive. During the past few months several companies have recapitalised and there are signs of a return of liquidity into the junior exploration markets, providing a positive outlook for both Ausdrill$B!G(Bs manufacturing and drilling businesses.

The drill and blast and mining services businesses are well positioned with long term contracts in Australia and Africa $B!>(B two regions with strong growth prospects ? which also augurs well for support services such as Supply Direct. In addition Diamond Communications, as an experienced operator in the installation of fibre optic networks, is positioned well to participate in the National Broadband Network construction.

The Board is positive about where the Company is positioned and believes further after tax profit growth is achievable in its underlying business subject to the continued recovery in the resources sector.

To view the full announcement and report please visit on the link below:

http://www.purplecom.com.au/_content/documents/1323.pdf

For further information, please contact:

Mr Ron Sayers
Managing Director

Ausdrill Limited

Tel: +61 8 9311 5666

Mr Andrew Broad

General Manager ? Strategic Development

Ausdrill Limited

Tel: +61 8 9311 5666

Mr Warrick Hazeldine

Director

Purple Communications

Tel: +61 8 6314 6300

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