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Daily Share Buy-Back Notice

Document date:  Mon 22 Nov 1999
Published:  Mon 22 Nov 1999 10:44:31
Document No:  155321
Document part:  A
Market Flag:  N
Classification: 

HOMEX - Melbourne                                                     

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Please be advised that the NTA for each of the Company's issued
voting shares, as at 13 March, 1998 and pursuant to Listing Rules
4.12* was:

BEFORE PROVISION FOR              AFTER PROVISION FOR
TAX ON UNREALISED GAINS           TAX ON UNREALISED GAINS

  91.3 cents/share                   91.1 cents/share

CASH COMPONENT 

(50.7 cents/share = 55.5%)       (50.7 cents/share = 55.7%)


* As from 1 July 1996, Listing Rule 4.12 requires Investment Entities
to calculate its NTA after allowing for the costs of an orderly
disposal (brokerage and stamp duties) of the portfolio on the
reporting date; tax on realised gains, declared dividends and
management fees due. As shown above, Listing Rule 4.12 provides for
an NTA to be shown both pre and post provision for tax on unrealised
gains.

As in the past, the Company will report its NTA based upon
calculations made at the close of business on each of the last and
third lost Friday of a month as is applicable.

M Garbutt 
COMPANY SECRETARY

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