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Alarm Bells Ring at Jupiters

16 May 2003

AUSTRALIA – As reported by the Australian: "Gambling company Jupiters has put investors on notice that a further drop in the share price of takeover suitor Tabcorp could undermine the agreed bid.

"Tabcorp's share price dropped yesterday from an opening of $10.52 (US$6.87) to as low as $10.15 (US$6.63) before recovering to close at $10.35 (US$6.76), after the company announced late on Thursday night that smoking bans were hurting gaming revenue.

"…When Tabcorp announced its takeover offer for Jupiters in March its share price was $9.96 (US$6.50).

"…Jupiters chief executive Rob Hines said yesterday the drop in the share price would become a concern if it fell below the level it was at when the takeover was announced…"

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