Former Test batsmen Darren Lehmann and Matthew Elliott are among six players dropped from Australia's list of centrally contracted players for 2005. Martin Love, Ian Harvey, Jimmy Maher and Brad Williams have also been left off the list.
Off-spinner Dan Cullen and seam bowler Michael Lewis are new faces included.
"We're confident the players selected have the ability and experience to help ensure the team remains at the very top," said chief selector Trevor Hohns.
The announcement is a further indication that Australia believe Lehmann's international career is over.
The 35-year-old was recently left out of the squad for the Ashes tour to England and has been struggling with a shoulder injury.
"Darren Lehmann has been a wonderful player for Australia over many years and is held in high regard by not only his team-mates, but also by spectators.
"However, as we said when Darren was not selected for the Ashes tour, we are indicating that it is time for us to look toward the future.
"We are confident that the young players on the contracted list will fill the void left by Darren's omission," Hohns explained.
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New South Wales paceman Nathan Bracken has regained his contract after missing out in 2004-05 and Brad Haddin, James Hopes and Cameron White have been upgraded to full-year contracts.
"Nathan has been rewarded for another solid season at domestic level and demonstrates that it is possible for players to win back a contract," said Hohns.
"Brad Haddin's form last year indicated his cricket has improved immensely and in particular his wicket-keeping.
"It is the first time in several years we have included a back-up keeper, which is an indication that we are keen to look after Adam Gilchrist's workload.
"James Hopes is an all-rounder of immense talent, particularly in the one-day game. His selection to replace Shane Watson on the [recent] tour to New Zealand was an indication of our belief in him," Hohns added.
The average age of the contracted list is 29, with Glenn McGrath, at 35, the oldest played named, and 21-year-olds Cullen and White the youngest.
Contracted players: Nathan Bracken, Michael Clarke, Daniel Cullen, Adam Gilchrist, Jason Gillespie, Matthew Hayden, Brad Haddin, Brad Hodge, Brad Hogg, James Hopes, Michael Hussey, Michael Kasprowicz, Simon Katich, Justin Langer, Brett Lee, Michael Lewis, Stuart MacGill, Damien Martyn, Glenn McGrath, Ricky Ponting, Andrew Symonds, Shaun Tait, Shane Warne, Shane Watson, Cameron White.