NEWS: STOCK EXCHANGE OF NEWCASTLE LIMITED GIVEN APPROVAL TO RECOMMENCE OPERATIONS

MEDIA RELEASE - 4 February 2000 3:44 PM The Stock Exchange of Newcastle Limited (NSX) today received approval to recommence operations as a stock exchange. NSX is expected to play a significant role in Australia's equity markets as an alternative and complementary market to the Australian Stock Exchange Limited. The CEO of NSX, Steven Pritchard, has been working with Bill Fuggle and Astrid Raetze of Baker & McKenzie for the last three years to obtain regulatory approvals, negotiate a strategic alliance with ASX and to draft listing and business rules. The NSX market will operate on software licensed from ASX which will be very similar to SEATS and will settle on CHESS. It is anticipated that listings will initially be small to medium companies particularly regionally based stocks.  NSX's listing rules may also facilitate listing of some larger enterprises not currently able to list on ASX for technical reasons.  There is no cap on the size of enterprises permitted to list on the NSX. Copies of the Listing and Business Rules can be found on NSX's website at www.newsx.com.au . Enquiries about listing or membership of the exchange should be directed to Steve Pritchard, CEO, (02) 4969 2877