The Takeovers Panel (the Panel) has today published the reasons for its decision in relation to an application by San Miguel Foods Australia Holdings Pty Ltd received on 7 March 2005 alleging unacceptable circumstances in relation to the affairs of National Foods Limited.

The Panel announces that it has consented to the request by Yoplait SAS (Yoplait) and Sodima SAS (Sodima) to withdraw their application dated 5 April 2005 seeking review of a decision of ASIC on 1 April 2005 refusing to grant Yoplait and Sodima an exemption from, or modification to, the Corporations Act.

The Panel announced today that it has declined to make a declaration of unacceptable circumstances in relation to SteriCorp Limited's (SteriCorp) 1 for 1, non-renounceable rights issue (Rights Issue), the terms of which were set out in a prospectus dated 11 March 2005. The Rights Issue was underwritten by a major shareholder of SteriCorp, Catilina Nominees Pty Ltd (Catilina). The decision was in response to an application on 19 April 2005 (TP05/37) by SteriCycle, Inc (Stericycle), a major convertible note holder in SteriCorp.

The Takeovers Panel (the Panel) has today published the reasons for its decision in relation to an application by Network Limited received on 31 December 2004 alleging unacceptable circumstances in relation to the affairs of Rivkin Financial Services Limited.

The Takeovers Panel has accepted undertakings (Undertakings) from SteriCorp Limited in response to the application from Stericycle Inc dated 19 April 2005. The application alleges that unacceptable circumstances exist in relation to the current rights issue being undertaking by SteriCorp (Rights Issue).

The Takeovers Panel (Panel) advises that it has received an application dated 19 April 2005 from Stericycle Inc (Stericycle) in relation to the affairs of Stericorp Limited (Stericorp).

The Panel announces that it has concluded its proceedings in relation to the application by San Miguel Foods Australia Holdings Pty Ltd (San Miguel) for a declaration of unacceptable circumstances made on 7 March 2005.