Universal Resources Limited - Panel Publishes Reasons

The Takeovers Panel (Panel) has today published the reasons for its decision in relation to an application received from CopperCo Limited dated 9 February 2005 alleging unacceptable circumstances in relation to its takeover offers for all the shares and options in Universal Resources Limited.

Details of the panel's decision were announced on 21 February 2005 in Panel media release TP05/23, available on the panel's website at: Media Releases.

The sitting Panel was Leslie Taylor, Byron Koster, Chris Photakis.

The reasons of the Panel are available on the Panel's website at: Reasons for Decisions.

Nigel Morris
Director, Takeovers Panel
Level 47, 80 Collins Street
Melbourne, VIC 3000
Ph: +61 3 9655 3501