Media Release

ACCC Clears Toll’s Offer for Finemore

The Australian Competition and Consumer Commission (ACCC) has today announced that it does not intend to intervene in the Company’s off-market takeover bid in relation to the fully paid ordinary shares in Finemore Holdings Limited.  A media release to be issued this afternoon is attached.

Further, in accordance with section 630(4) of the Corporations Law, the Company hereby gives notice that the condition set out in clause 9.1(d) of its Offers dated 8 August 2000 has been fulfilled.

Yours faithfully

TOLL HOLDINGS LIMITED

Bernard McInerney
Company Secretary

MEDIA RELEASE

15 August 2000

ACCC clears Toll’s Offer for Finemore

Toll Holdings Limited (“Toll”) announced today that the Australian Competition and Consumer Commission (”ACCC”) has advised Toll that it will not intervene in Toll’s $2.25 per share takeover bid for Finemore Holdings Limited (“Finemore”).

The Managing Director of Toll, Mr Paul Little, said that the ACCC had advised Toll of its decision following extensive market enquiries covering customers and competitors.  The ACCC was satisfied that the acquisition of Finemore by Toll is unlikely to result in a substantial lessening of competition in any Australian market.

Mr Little welcomed the ACCC’s decision and said that, whilst Toll had been optimistic that the ACCC would reach this conclusion, it was naturally a pleasing outcome for Toll.

Mr Little also confirmed that the Offer and Bidder’s Statement, together with the Target Statement were despatched to Finemore shareholders last week, and noted that the ACCC’s decision effectively satisfied one of the Offer conditions.  This should provide further encouragement for Finemore shareholders to now accept the Offer, which is scheduled for closure on 9 September 2000.

For further information, please contact:

Mr Paul Little
Managing Director
Ph:      03 9694 2820

Mr Neil Chatfield
Chief Financial Officer
Ph:      03 9694 2820