The Thoroughbred Racing Bureau Pty Ltd has been appointed to manage the sponsorship activities for the
Werribee Racing Club commencing 1 April 2002.

The Thoroughbred Racing Bureau Pty Ltd Managing Director Rodney Rae stated that "we are extremely
pleased to be assisting the Werribee Racing Club with their sponsorship activities and making an
important contribution to the club in what can only be described as an extremely competitive commercial
environment. We look forward to the challenge of developing the Werribee Racing Club's corporate
partnership base by delivering the desired outcomes for everyone involved."

The Werribee Racing Club Secretary/Manager David Horsburgh commented that his club "is very
fortunate to secure the services of the Thoroughbred Racing Bureau Pty Ltd and we are forecasting a
major improvement in this component of our business. The Werribee Racing Club has much to offer
prospective corporate partners and we are looking to the Thoroughbred Racing Bureau Pty Ltd to deliver
this message."

For further information please contact Rodney Rae on 61 3 95210590 or 61 419190037.