RESPONSE TO MEDIA ARTICLES

In response to an enquiry from the Australian Stock Exchange, the directors confirm there are no matters that require disclosure. It is the long standing policy of the company not to comment on speculation.

Media reports of intended changes in the composition of the Board reflect statements made by the Chairman at last years’ Annual General Meeting of shareholders, when it was indicated that some directors will retire this year and that action would be initiated to secure suitable replacement directors. Appropriate announcements will be made when changes occur.

The intention of the company to undertake a wide ranging strategic review of all of its assets was announced on 15 December 2000 as part of a Business Improvement Program. The review was also referenced in the announcement of Pasminco’s half year results on 28 February this year. No decisions have been taken on the future of individual assets and the strategic review continues. The interest of third parties in the possible purchase of our Broken Hill assets has been announced to the market.

As previously advised, Mr Tony Barnes was appointed Executive General Manager, Finance & Services on 5 April 2001. There are no plans to make further changes at the executive leadership level.


For further information contact:
Trevor Shard
Group Manager - Investor Relations
61 3 9288 9186 or 0419 584 515

Return to Home