The Takeovers Panel advises that, following an announcement yesterday by Santos Limited that it does not intend to proceed with its proposed offer for all the shares in Queensland Gas Company Limited (Santos Proposal), AGL Energy Limited has applied to withdraw its application concerning the Santos Proposal.

The Takeovers Panel has today released for public comment a draft Guidance Note and Issues Paper in relation to when the Panel may consider unacceptable circumstances exist where there is insider participation in control transactions.

The Takeovers Panel advises that it received an application yesterday from AGL Energy Limited in relation to the ASX announcement by Santos Limited dated 15 February 2007 of a proposal to make an offer for all the shares in Queensland Gas Company Limited (Santos Proposal).

The Takeovers Panel wishes to announce that it has, with regret, accepted the resignation of Mr George Durbridge as Counsel to the Panel.

The Takeovers Panel (Panel) has today published the reasons for its decision in relation to an application dated 20 November 2006 from Santos CSG Pty Ltd in relation to its off-market takeover bid for Queensland Gas Company Limited (see TP06/115).

The Takeovers Panel (Panel) has today published the reasons for its decision in relation to an application from Rinker Group Limited dated 6 November 2006 in relation to an off-market takeover bid by CEMEX, S.A.B. de C.V. (see TP06/110).

The Takeovers Panel (Panel) advises that it has considered the application (Application) from Santos CSG Pty Ltd (Santos) in relation to its off-market takeover offer for Queensland Gas Company Limited (QGC and Offer). Having regard to the further disclosures agreed to be provided by QGC in a second supplementary target's statement, the recent announcements by QGC about the proposed transaction with AGL Energy Ltd (AGL Proposal) and the proposed transaction with Sentient Gas (Sentient Proposal) (collectively the Proposals) the further information to be provided in the notice of meeting and explanatory memorandum for those Proposals and submissions from QGC and Santos, the Panel has decided not to make a declaration of unacceptable circumstances in relation to the Application.