Two new directors have been appointed to the Board of CSR Limited.

John Arthur, 46, a senior partner at Freehills, and John Wylie, 39, aprincipal of investment bank Carnegie, Wylie and Company, will join the Boardfrom March 1.

John Arthur has had a long career with Freehills as a commercial lawyer, with extensive experience in property development and construction, informationtechnology, e-commerce and the financial sector. He was General Counsel at Lend Lease Group from 1992-1995, and has served on the boards of various Lend Lease subsidiaries, including the Parkland Group retirement village business.

He is also a director of EDS Australia Pty Limited and the HM Bark Endeavour Foundation.

John Wylie is one of Australia’s foremost investment bankers, with extensive experience in Australia and overseas. He has advised on numerous mergers andacquisitions, and equity and debt raisings for corporations and governments in Europe, the US and Australia.

Previously head of investment banking at Credit Suisse First Boston from 1996-1999, Mr Wylie left to establish Carnegie, Wylie and Company in January2000, while remaining non-executive chairman of CSFB. He is also chairman ofthe Melbourne Cricket Ground Trust.

The new appointments follow the retirement from the CSR Board of CharlesGoode and Allan Moss. Mr Goode, 62 is also chairman of the ANZ Banking GroupLtd and Woodside Petroleum Ltd, and a director of Singapore Airlines Limited. Mr Moss, 51, is Managing Director of Macquarie Bank Ltd. Both retirements willbe effective 31 March.

CSR Chairman Ian Burgess said the Board deeply appreciated the contributionsof Mr Goode and Mr Moss.

He said Mr Goode, who was appointed in 1993, had decided to retire from CSRin view of the increasing workload with his other board appointments. Mr Mosshad indicated that the triple-fold expansion of Macquarie Bank since he joinedthe CSR Board in 1996, and the bank’s aggressive international growth strategy,made it difficult for him to devote the necessary time to an externaldirectorship of a major company like CSR.

"They have both made significant contributions to the ongoingrefocusing of CSR as a global international building materials company, and theimprovement in its underlying operating performance in recent years," saidMr Burgess.

"We are nonetheless delighted that Mr Wylie and Mr Arthur have agreedto join the Board.

"John Wylie’s extensive global experience in investment banking and hiswell-recognised commercial judgement, together with John Arthur’s legal andcommercial experience, particularly in the property and construction sectors,will be valuable additions to the Board’s mix of skills."