Decision Postponed in Relation to Colonial First State Funds [07/09/2002] The Takeovers Panel

7 September 2002

DECISION POSTPONED IN RELATION TO COLONIAL FIRST STATE FUNDS

The Panel advises that it has considered the issues raised in the applications made by Mirvac Funds Ltd. in relation to the Merger Proposal by Colonial First State Property Funds, Commonwealth Property Office Fund and Gandel Retail Trust. The Panel has made some preliminary decisions, however, it has decided to try to seek implementation of those decisions by undertakings from the parties. Discussions on the Panel's proposals to resolve the issues are still in progress with the parties.

Therefore the Panel will not be able to provide a final resolution of the matters before Monday of next week at the earliest.

In deciding to delay its decision, the Panel took into account the fact that the meetings of Colonial First State Property Funds has been adjourned to a date to be fixed.

The sitting Panel for the application is Professor Ian Ramsay (sitting President), Karen Wood (sitting Deputy President) and Jennifer Seabrook.

Nigel Morris
Director, Takeovers Panel
Level 47 Nauru House, 80 Collins Street, Melbourne VIC 3000
Ph: +61 3 9655 3501
Email: nigel.morris@takeovers.gov.au