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Australian State Loosens Tabcorp Ownership Restrictions

12 June 2002

MELBOURNE, Australia – As reported by Reuters: "The Victorian state Government has voted to loosen ownership restrictions on Australia's largest gaming and wagering group, Tabcorp.

"The state's Parliament passed a bill to lift the shareholding restriction to 10 per cent from 5 per cent, which would allow any one shareholder to hold up to 10 per cent of the company and removes a 40 per cent limit on foreign ownership.

"Analysts have said the looser ownership limits would spur international buying of Tabcorp stock, which was trading up 3.1 per cent at A$13.11 (US$12.36)heading into the close…"

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