Australian Leisure & Hospitality Group Limited 03 - Panel Publishes Reasons

The Takeovers Panel (the Panel) has today published the reasons for its decision in relation to the application from CMM Hotel & Retail Investments Pty Ltd dated 18 October 2004 alleging unacceptable circumstances in relation to the off-market takeover bid by Bruandwo Pty Limited for all the ordinary shares in Australian Leisure & Hospitality Group Limited.

Details of the Panel’s decision were announced on 22 October 2004 in Panel media release TP04/99, available on the Panel’s website at: Media Releases.