Shell large, solid, fusiform, polished, consisting of 1.5 protoconch and 7.5 teleoconch whorls. Protoconch whorls convex, smooth; protoconch/teleoconch transition sharp. Teleoconch whorls convex with a moderately deep, impressed suture; body whorl occupying 68% of total shell height. Sculpture consists of broad, strong axial ribs, that are slightly but distinctly shouldered below the suture, and incremental lines. There are 12 ribs on the first two teleoconch whorls, 10 on subsequent whorls and 11 on the body- and penultimate whorls. No spiral sculpture except for a few very faint and indistinct furrows on the body whorl. Aperture high, narrow, with a thick callus where it joins the body whorl. Columella with a very thin callus; columellar plaits as follows: abapical one small, next 4 plaits very strong and equidistant, followed by two smaller and more closely set plaits; finally 4 closely set parietal lirae are situated adapically. Outer lip thick, smooth (abapical portion chipped). Siphonal canal short, broad.
Background colour of the shell beige cream, with 3 rows of chocolate brown marks on the body-whorl (two on the spire whorls) ; the adapical row consists of a series of short and narrow flammules extending axially between the suture and a spiral line of the same colour. The second band consists of similar axial flammules extending between two spiral lines; this band is situated at the periphery of the body whorl, and is partly covered by the next whorl on the spire whorls. The abapical band consists of similar axial flammules but this time extending across a single chocolate spiral line. Aperture beige cream.
The head-foot is light beige with a reticulation of radiating reddish lines; siphon and tentacles cross striped with reddish lines. Eyes present. Dimensions of the holotype: height 90.5 mm, breadth 35.5 mm; height of the body whorl 62 mm; aperture height 50 mm, breadth 14 mm. Remarks: The paratype is 65.5 mm high and has a thickened outer lip. It conforms well with the holotype in shape and sculpture; it has 6 instead of 7 columellar plaits. The background colour is darker cream and the spiral chocolate lines are almost absent.

Type locality: Kelso Bank, 24°12,S / 159°32'E, Coral Sea. Range: Bellona plateau, Capel and Kelso Bank, Coral Sea.
Habitat: Deep water, fragments and specimens known have been trawled between 230 and 300 m.

Description: Shell is large, solid, fusiform, measuring 90.5 mm (holotype) and 65.5 mm (paratype). Protoconch small, convex, smooth of 1.5 whorls. Spire moderately high. Teleoconch of 7-8 convex whorls with an impressed suture. Sculpture of 10-12 strong axial ribs, slighty shouldered below the suture. There is an absence of true spiral sculpture giving the teleoconch a polished surface. Aperture high and narrow. Outer lip is thickened internally and bordered by a callous ridge. Columella is almost straight bearing seven plaits followed adapically by four lirae. Siphonal notch is shallow and broad. Background colour beige cream, marked by three spiral, chocolate-coloured bands on the last whorl. These bands are made of short axial flammules encircled by two spiral lines giving a "rope-ladder-like" aspect, unique in the genus. The spiral lines are absent on the paratype or reduced to one only on a fragment from Bellona plateau. Aperture is beige cream.
Animal: Foot and head are light beige with radiating reddish lines, siphon and tentacles striped with reddish lines (Bouchet & Poppe, 1988).

Comparison: The specific pattern of L. (P.) exorata excludes any confusion with the other Lyria bearing a minute protoconch such as L. (P.) planicostata and L. (P.) boholensis. L. (P.) kuniene has a bigger and more bulbous protoconch with a more slender body whorl and its pattern is different. L. (P.) boucheti n. sp. has a smaller protoconch, a more pointed spire, axial ribs thicker and more numerous.
Remarks: This outstanding species is known only from two well preserved specimens dredged by Musorstom 5 in 1986 on Kelso Bank and Capel, and only from fragments from Bellona Plateau (Musorstom 5, 1986; M/V TUI2, 2003). Regarding the fineness of its protoconch, we can suppose a wider distribution than the plateaus where it was discovered. New findings are expected eagerly by the conchological world.

The shell and colour pattern of L. exorata are so distinctive that confusion with other living species of the genus is excluded. Related Lyria in the SW Pacific are L. planicostata and L. kuniene. Apart from the colour pattern it differs from L. planicostata by its shouldered whorls and fewer axial ribs. The protoconch of L. kuniene is bigger and more bulbous (Figs. 12, 15-16) ; its teleoconch is more slender and the aperture is white, not beige cream as in L. exorata. Geographical and geological remarks: Kelso and Capel banks are part of the chain of guyots stretching from the Chesterfield-Bellona Plateau to Lord Howe in the northern part of the Tasman Sea. The age of the volcanic structures supporting the guyots varies from 28 MY (upper Oligocene) in the North (Chesterfield—Bellona) to 6.5 MY in the South (Ball's Pyramid, off Lord Howe) (Missegue et al. 1987). An age of 15-20 MY is probable for Kelso and Capel banks, which cover an area of 1000 and 3000 km2 respectively (Launay et al. 1979). Such an age and surface are sufficient for the existence of endemic species. However, the banks are separated by only short distances from Argo and Nova Banks, and from the Chesterfield—Bellona Plateau. Although no specimen of L. exorata has been collected on those banks, it is probable that its distribution is not just limited to Kelso and Capel Banks.

Only known from Capel and Kelso banks in the Coral Sea.