Exhibit 99.4

(ASX LOGO)

JAMES HARDIE INDUSTRIES N.V. – RETURN OF CAPITAL

Participating Organisations are advised that James Hardie Industries N.V. have today announced that Dutch regulatory approval for the capital return approved by shareholders on 15 August 2003 was received on 27 October 2003,

The following indicative timetable will now apply to trading in the Company’s securities.

     
Announcement of final Dutch regulatory approval   Tuesday, 28 October 2003
     
Ex-return of capital trading commences   Wednesday, 29 October 2003
     
Record date   Wednesday, 5 November 2003
     
Announcement of AUD-equivalent amount of capital return to be paid   Thursday, 6 November 2003
     
Payment date   Wednesday, 19 November 2003

For more information please refer to the Company’s announcements dated 27 October 2003 and 28 October 2003.

     
ASX Contact:   Richard Hajzuk
     
Business Unit   ASX Companies Sydney
     
Ext. No:   7651
     
Date:   28 October 2003
     
No responsibility is accepted for any inaccuracies in the matter published.    
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