Panel Declines to Hear Application in Relation to St Barbara Mines Limited

The Takeovers Panel announced today that it has decided not to conduct proceedings in relation to the application it received on 27 September 2000 from shareholders of St Barbara Mines Ltd for a declaration of unacceptable circumstances in relation to the proposed merger of St Barbara and Taipan Resources NL which was announced on 13 June 2000.

The merger is proposed to be implemented under a scheme of arrangement where St Barbara shareholders and optionholders will receive shares and options in Taipan.