Santos to Delist from NZX

Santos Limited is delisting from the New Zealand Stock Exchange from the close of trading (New Zealand time) on June 30, 2005. This will result in the cessation of Santos' securities on that exchange.

Existing New Zealand shareholders will not be detrimentally impacted by the change. All shares will continue to be traded on the Australian Stock Exchange (ASX).

All New Zealand shareholders will continue to receive annual reports and all future information that Santos sends to Australian shareholders. They can also subscribe to receive company announcements via email through the Santos website.

Santos will be notifying each New Zealand shareholder in writing of the delisting and the wide range of options available to them to continue to follow the company's performance and to trade their shares.