The Takeovers Panel (Panel) advises that it has received an application dated 28 January 2005 from Southcorp Limited (Southcorp) in relation to the takeover offer by Beringer Blass Wines Pty Limited (Beringer) (a wholly owned subsidiary of Foster's Group Limited (Foster's)) for all of the shares in Southcorp. The terms of Foster's offer are set out in the bidder's statement dated 18 January 2005.

The Panel has concluded the combined proceedings arising from the application from Xstrata Capital Holdings Pty Ltd (Xstrata) dated 12 January 2005 (the Xstrata Application) alleging unacceptable circumstances in relation to Xstrata's takeover offer for all the shares in WMC Resources Ltd (WMC), and the application by WMC dated 14 January 2005 (the WMC Application) in relation to Xstrata's takeover offer. The Panel's previous media releases TP05/04, TP05/07, TP05/09 and TP05/10 provide further details regarding these applications.

The Takeovers Panel (Panel) advises that it has made a decision in relation to the application dated 13 January 2005 from Lenvat Pty Limited (Lenvat), a major shareholder1 of Lachlan Farming Limited (LFL), in relation to the 1 for 1.19 rights issue (Rights Issue) recently conducted by LFL, the terms of which were set out in a prospectus dated 17 September 2004 (Rights Issue Prospectus).

The Panel announces that it has made a declaration of unacceptable circumstances in response to an application from Network Limited (Network) under section 657C of the Corporations Act in relation to the affairs of Rivkin Financial Services Limited (RFS). The Panel has accepted undertakings from RFS which address its concerns. The application relates to a 1 for 3 pro-rata renounceable rights issue proposed by RFS, to be fully underwritten by Westchester Financial Services Pty Limited (Westchester) and fully sub-underwritten by Central Exchange Limited (CXL).

The Takeovers Panel (Panel) advises that it has decided to commence proceedings in relation to an application dated 14 January 2005 it received from WMC Resources Ltd (WMC) in relation to the takeover offer by Xstrata Capital Holdings Pty Ltd (Xstrata Capital) for all the shares in WMC.

The Takeovers Panel (Panel) received an application dated 13 January 2005 from Lenvat Pty Limited (Lenvat), a major shareholder of Lachlan Farming Limited (LFL), in relation to the 1 for 1.19 rights issue recently conducted by LFL, the terms of which were set out in a prospectus dated 17 September 2004.

The Takeovers Panel (Panel) advises that it has received an application dated 14 January 2005 from WMC Resources Ltd (WMC) in relation to the takeover offer by Xstrata Capital Holdings Pty Ltd (Xstrata Capital) for all the shares in WMC. The terms of Xstrata Capital's offer are set out in the replacement bidder's statement dated 16 December 2004. WMC issued a target's statement dated 4 January 2005 in relation to Xstrata Capital's offer, which incorporated an independent expert's report.

Following the Panel's media release TP04/05 of 12 January 2005 regarding the application from Xstrata Capital Holdings Pty Ltd in relation to its takeover offer for all the shares in WMC Resources Ltd, the Panel advises that it has decided to conduct proceedings with respect to Xstrata Capital's application. The Panel will announce details of its decision once these proceedings are determined.

The Takeovers Panel (Panel) advises that it has today received an application from Geoff Woodham Financial Services Pty Ltd (the Applicant) alleging that unacceptable circumstances exist in relation to a number of issues of securities, a proposed issue of convertible notes and a transfer of securities, in each case in LV Living Limited (LVL).

The Takeovers Panel (Panel) has today made further interim orders in relation to the application from Network Ltd concerning Rivkin Financial Services Ltd (RFS) dated 31 December 2004. The application was the subject of Panel media release TP04/119 and the Panel's previous interim orders were the subject of media release TP05/02. The Panel proceedings in relation to the application are continuing.