The Takeovers Panel announces that it has today accepted the offer of undertakings from Goodman Fielder in relation to the application by BPC1 Pty Ltd and Burns Philp Co Ltd for a declaration of unacceptable circumstances and orders in relation to the affairs of Goodman Fielder Ltd. BPC1 is currently bidding for Goodman Fielder. It made the application on 20 January 2003.

The Panel advises that it has today accepted undertakings from Phosphate Resources Limited (PRL) (an unlisted public company) concerning obtaining shareholder approval for a rights issue, or underwriting by Asset Backed Holdings Limited (ABK), in the next 12 months. On the basis of those undertakings the Panel has decided to decline an application for a declaration of unacceptable circumstances in relation to the affairs of PRL. The application from Mr Gerry Pauley and Dr Gordon Elkington (Shareholders) was received on 2 January 2003.

The Panel advises that today it has consented to the withdrawal of an application from MatlinPatterson Global Opportunities Partners LP (MP Global) in relation to its takeover bid for Anaconda Nickel Limited (Anaconda).

The Panel advises that it has today declined an application for an interim order restraining dispatch of the offer document in the offer for Anaconda Rights from MatlinPatterson Global Opportunities Partners LP (MP Global).

The Panel advises that it has received three further applications in relation to the affairs of Anaconda Nickel Limited (Anaconda). These are in addition to the two previously announced.

The Panel advises that it has received an application from Metal Holdings P/L, a company associated with Mr. Andrew Forrest seeking a declaration of unacceptable circumstances, and final orders, in relation to the affairs of Anaconda Nickel Limited (Anaconda).

The Panel advises that it has accepted undertakings from Goodman Fielder Ltd. (Goodman Fielder ) in relation to the takeover bid by BPC1 Pty Ltd. (Burns Philp) (a subsidiary of Burns, Philp & Company Ltd).

The Panel advises that it has published its reasons for its decision to decline to make a declaration of unacceptable circumstances in response to an application by Goodman Fielder Ltd. (Goodman Fielder), which the Panel received on 30 December 2002. The application was in relation to a takeover bid for Goodman Fielder by BPC1 Pty. Ltd. (Burns Philp) (a subsidiary of Burns, Philp & Company Ltd.).

The Panel advises that it has received a second application in relation to the proposed takeover bid for Goodman Fielder Ltd. (Goodman Fielder). The application is from the bidder, BPC1 Pty. Ltd. (Burns Philp) (a subsidiary of Burns, Philp & Company Ltd.). The application seeks a declaration of unacceptable circumstances, interim orders and final orders in relation to Goodman Fielder, its target statement and related matters.