Australian Stock Exchange Limited Welcomes Increased Voting Power Limit.

Australian Stock Exchange Limited (ASX) welcomes today's decision by the Senate to approve, as part of the Financial Services Reform legislation, an increase in the permitted voting power in ASX from 5 per cent to 15 per cent of issued shares. ASX congratulates all those involved in this important initiative, which received all-party support.

This decision will significantly enhance ASX's ability to grow its business - including providing flexibility to take advantage of future opportunities to fund business expansion through strategic acquisitions and alliances. ASX has no immediate plans to make use of this new flexibility. The higher limit will also further facilitate institutional investors in supporting ASX stock if they see fit.

ASX notes that the Senate approved arrangements whereby the Minister has discretion - subject to Parliamentary disallowance within 15 sitting days - to approve, in the national interest, a person having voting power of more than 15 per cent.

ASX notes these new arrangements are subject to final passage through Parliament and require complementary changes to the ASX constitution.

These changes will be submitted for shareholder approval at the ASX Annual General Meeting to be held in Melbourne on 29 October 2001.