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Packer Not Resigning

30 October 2003

SYDNEY, Australia -- As reported by Reuters: "Australia's richest man, Kerry Packer, has ruled out resigning from the board of his family's media and casino empire despite life-threatening health problems.

"Packer's reputation as a ferocious businessman was on show yesterday as he sparred with shareholders at the annual meeting of Publishing and Broadcasting, reminding them who was the biggest shareholder.

"Asked at what age he thought company directors should resign, the billionaire with a passion for polo and gambling replied: 'The beginning of senility.'

"...Packer shares a reluctance to retire with fellow Australian media mogul Rupert Murdoch, who this month told the annual meeting of News Corp: 'I will be carried out.'

"Despite his quick-fire responses, Packer, 65, who underwent a life-saving kidney transplant several years ago, appeared pale.

"At 1.9m, Packer's bulky physique has helped make him one of Australia's most recognisable and feared public figures, but he suffered a near-fatal heart attack in October 1990..."

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