Application by Magic Millions for Review of Panel's Decision in Brisbane Broncos Nos 1 and 2

The Panel advises that it is currently continuing discussions with parties in relation to the application from Magic Millions under section 657EA of the Corporations Act requesting a review of the decisions in the Brisbane Broncos Nos 1 and 2 proceedings.

The Review Panel currently believes it will be able to make an announcement on the result of those discussions to the market after the close of trading tomorrow.

The sitting Panel in this review application is Simon McKeon (sitting President), Ian Ramsay and Carol Buys.

Normandy Mining Limited 03

An application (Normandy 03) under section 657C of the Corporations Act by AngloGold Limited for a declaration of unacceptable circumstances and an order canceling a deed (or parts thereof) entered into on 14 November 2001 between Normandy Mining Limited and Newmont Mining Corporation. The Deed related to various "lock-up" arrangements which Normandy agreed to in order to induce Newmont to announce its proposed takeover offer for all of the shares in Normandy. On Friday 7 December 2001, the Panel declined to make a declaration or orders.

Brisbane Broncos Limited 01 and 02

These are our reasons for refusing applications made by BB Sports Pty Ltd (“News”) and by ASIC for declarations of unacceptable circumstances and orders in relation to the affairs of Brisbane Broncos Ltd (“Broncos”), because Magic Millions League Pty Ltd (“Magic Millions”) had announced but not made a takeover bid for Broncos and because of the terms of an announcement by News that it would bid for Broncos.

Normandy 07 Application Resolved

The Panel is pleased to advise the resolution of the application by Newmont in relation AngloGold's notice of extension of its bid for Normandy which the Panel announced yesterday. The notice was sent to Normandy shareholders last Friday.

Newmont had raised concerns about the statement in the notice:

"Although we have not declared the offer final, we have said that this offer is full and fair and that we have no basis upon which we could justify a further increase in the offer."

Panel Publishes Reasons for Decision in Relation to Magic Millions League Takeover Bid for Brisbane Broncos and BB Sports Bid Condition

The Panel advises that it has today published the reasons for its decision in relation to the application concerning the announcement by Magic Millions League that its proposed takeover offer for the Brisbane Broncos will not proceed (Brisbane Broncos No.1) and the cross-application concerning a condition of BB Sports takeover offer for the Brisbane Broncos (Brisbane Broncos No.2). The Panel's decision was made on 3 January 2002.

Further Application in Relation to Newmont Bid for Normandy

(Normandy 07)

The Panel advises that it has today received an application by Newmont in relation to the current bid by AngloGold for Normandy. The application relates to AngloGold's notice of extension of its bid for Normandy. The notice was sent to Normandy shareholders last Friday. The application is for interim and final orders and for a declaration of unacceptable circumstances under section 657A of the Corporations Act.

In the notice, AngloGold stated:

Normandy Mining Limited 04

These are our reasons for refusing an application by AngloGold Limited (AngloGold) for a declaration of unacceptable circumstances and orders in relation to the takeover bid announced on 14 November 2001 by Newmont Mining Corporation (Newmont) for the issued shares in Normandy Mining Limited ABN 86 009 295 765 (Normandy), resulting from the interaction between that bid and a Plan of Arrangement under Canadian law under which it is proposed that Newmont will acquire Franco-Nevada Mining Corporation Limited (Franco-Nevada).

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