Directors' Declaration

The Board of Caltex Australia Limited has declared that:

1. the directors have received the declarations required by section 295A of the Corporations Act 2001 from the Managing Director & CEO and the Chief Financial Officer for the year ended 31 December 2008
2. in the directors’ opinion, the financial statements for the year ended 31 December 2008, and the notes to the financial statements, are in accordance with the Corporations Act 2001, including:
   1. section 296 (compliance with Accounting Standards), and
   2. section 297 (true and fair view)
3. in the directors’ opinion, there are reasonable grounds to believe that Caltex Australia Limited will be able to pay its debts as and when they become due and payable, and
   
4. at the date of this declaration, there are reasonable grounds to believe that the companies in the Caltex Australia Group that are parties to the Deed of Cross Guarantee dated 22 December 1992 with Caltex Australia Limited (including companies added by Assumption Deed), as identified in note 23 of the 2008 Financial Report, will be able to meet any obligations or liabilities to which they are, or may become, subject by virtue of the Deed of Cross Guarantee

The Directors' Declaration is made in accordance with a resolution of the Board of Caltex Australia Limited.

EB Bryan
CHAIRMAN

DF King
MANAGING DIRECTOR & CEO

Sydney, 20 February 2009