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Preliminary Final Report & On-Market Buy-Back

Document date:  Wed 03 Nov 1999
Published:  Wed 03 Nov 1999 12:55:43
Document No:  154638
Document part:  P
Market Flag:  Y

HOMEX - Sydney                                                        

                 HALF YEARLY REPORT 
                    (Not Equity Accounted)

Name of entity
H-G Ventures Limited 

ACN or ARBN        Half    Preliminary     Half year
                   yearly     final        ended
                   (tick)    (tick)        ('current period')         
002 785 739          x                       31/12/1997

Sales (or equivalent operating)
revenue (item 1.1)                       up          76% to     3,218

Abnormal items after tax 
attributable to members (item 2.5) )     gain/loss       of       Nil

Operating profit (loss) after tax
(before amortisation of goodwill)
attributable to members (item 1.26)      down        97% to        38

Operating profit (loss) after tax
attributable to members(item 1.10)       down        97% to        38

Extraordinary items after tax
attributable to members (item 1.13)      gain/loss       of       Nil 

Operating profit (loss) and 
extraordinary items after tax 
attributable to members (item 1.16)      down        97% to        38

Dividends (distributions)                 Amount per    Franked amount
                                           security      per security
                                                          at 36% tax

Final dividend(Preliminary final
 report only - item 15.4); 
Interim Dividend(Half yearly report
 only - item 15.6)                               3 c               3 c

Previous corresponding period
(Preliminary final report - item 15.5; 
 half yearly report - item 15.7)                 5 c               5 c
Record date for determining entitlements to the dividend,
(in the case of a trust, distribution) (see item 15.2)    25/03/1998

Brief explanation of omission of directional and percentage changes 
to profit in accordance with Note 1 and short details of any bonus 
or cash issue or other item(s) of importance not previously released
 to the market: