COMPANY ANNOUNCEMENT

9 February 2012

1999 Disputed Amended Assessment with the Australian Taxation Office - decision pending

James Hardie Industries SE (the company) advises that the decision on the application by the Australian Taxation Office (ATO) for special leave in the matter of Commissioner of Taxation v RCI Pty Ltd (RCI) is expected to be delivered by the High Court of Australia tomorrow, 10 February 2012.

James Hardie will advise the market of the outcome of the proceedings, as soon as possible after the decision has been made. The company has requested a halt in the trade of its securities on the Australian Securities Exchange from 10.00am tomorrow, 10 February 2012 until an announcement is made.

Background

RCI received the amended assessment in March 2006. The amended assessment related to the amount of net capital gain arising as a result of an internal corporate restructure carried out in 1998 and was issued pursuant to the discretion granted to the Commissioner of Taxation under Part IVA of the Income Tax Assessment Act 1936.

On 30 May, 2007 the ATO issued a Notice of Decision disallowing RCI