Application in relation to St Barbara Mines Limited

The Takeovers Panel advises that it has received an application on 27 September 2000 by shareholders of St Barbara Mines Limited 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. Under the proposed scheme of arrangement each St Barbara shareholder (other than Taipan) will receive three Taipan shares for each St Barbara share held. Similar terms will be offered to St Barbara optionholders.