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Half Yearly Report

Document date:  Wed 05 May 1999
Published:  Wed 05 May 1999 00:00:00
Document No:  148214
Document part:  C
Market Flag:  Y
Classification: 

HOMEX - Melbourne                                                     

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DETAILS OF SPECIFIC RECEIPTS/OUTLAYS, REVENUES/EXPENSES
(Equity Accounted)

                                               Current      Previous
                                                period   corresponding
                                                             period
                                               AUDM      AUDM

12.1 Interest revenue included
     in determining item 1.4                     4,383        4,741
                                               
12.2 Interest revenue included
     in item 12.1 but not yet
     received (if material)                      1,050        1,131
                                               
12.3 Interest expense included
     in item 1.4 (include all
     forms of interest, lease
     finance charges, etc.)                      2,572        2,968
                                               
12.4 Interest costs excluded from
     item 12.3 and capitalised in 
     asset values (if material)                      -            -
                                               
12.5 Outlays (except those arising
     from the acquisition of an
     existing business) capitalised 
     in intangibles (if material)                    -            -
                                               
12.6 Depreciation and amortisation (excluding
     amortisation of intangibles)                   92           92


CONTROL GAINED OVER ENTITIES HAVING MATERIAL EFFECT
(See note 8)

13.1 Name of entity (or group of entities)    N/A
    
13.2 Consolidated operating profit (loss) 
     and extraordinary items after tax of 
     the entity (or group of entities) since 
     the date in the current period on which
     control was acquired                                  $      -
                                       
13.3 Date from which such profit has
     been calculated                                     -

13.4 Operating profit (loss) and extraordinary
     items after tax of the entity (or group of 
     entities) for the whole of the previous
     corresponding period                                  $      -

    
LOSS OF CONTROL OF ENTITIES HAVING MATERIAL EFFECT
(See note 8)

14.1 Name of entity (or group of entities)    N/A
   
                                        
14.2 Consolidated operating profit (loss) 
     and extraordinary items after tax of 
     the entity (or group of entities) for
     the current period to the date of loss 
     of control                                            $      -

14.3 Date to which the profit (loss) in
     item 14.2 has been calculated                       -   
   
14.4 Consolidated operating profit (loss) 
     and extraordinary items after tax of 
     the entity (or group of entities) while 
     controlled during the whole of the 
     previous corresponding period                         $      -
   
14.5 Contribution to consolidated    
     operating profit (loss) and 
     extraordinary items from sale of
     interest leading to loss of control                   $      -


REPORTS FOR INDUSTRY AND GEOGRAPHICAL SEGMENTS
Information on the industry and geographical segments of the entity
must be reported for the current period in accordance with AASB 1005:
Financial Reporting by Segments. Because of the different structures
employed by entities, a pro forma is not provided. Segment information
should be completed separately and attached to this statement. 
However, the following is the presentation adopted in the Appendices 
to AASB 1005 and indicates which amounts should agree with items
included elsewhere in this statement.

 -

SEGMENTS

Operating Revenue
Sales to customers outside the economic entity
Inter-segment sales
Unallocated revenue

Total revenue (consolidated total equal to item 1.3)

Segment result (including abnormal items where relevant)
Unallocated expenses

Consolidated operating profit after tax (before
equity accounting) (equal to item 1.8)

Segment assets                    )Comparative data for segment
Unallocated assets                )assets should be as at the end of
Total assets (equal to item 4.16) )the previous corresponding period.


DIVIDENDS (in the case of a trust, distributions)

15.1  Date the dividend (distribution) is payable        05/07/1999
                                        
15.2  Record date to determine entitlements to 
      the dividend (distribution) (ie, on the basis 
      of registrable transfers received up to 5.00pm
      if paper based, or by "End of Day" if a proper
      SCH transfer)                                      11/06/1999
                                        
15.3  If it is a final dividend, has it been declared
      (Preliminary final statement only)                 N/A


AMOUNT PER SECURITY
                               Amount Per Security  Franked Amount Per
                                                   security at 36% tax
(Preliminary final report only)                                  
15.4 Final dividend:   Current year      N/Ac                N/Ac
                                                           
15.5                   Previous year     N/Ac                N/Ac

(Half yearly and preliminary final 
 statements)
15.6 Interim dividend: Current year       26c               19.5c

15.7                   Previous year      24c               14.4c


TOTAL ANNUAL DIVIDEND (DISTRIBUTION) PER SECURITY
(Preliminary final statement only)
                                               Current       Previous
                                                  year         year

15.8 Ordinary securities                           N/A c        N/A c

15.9 Preference securities                         N/A c        N/A c


TOTAL DIVIDEND (DISTRIBUTION)
                                               Current      Previous
                                                period   corresponding
                                               AUDM       period
                                                            AUDM
                                              
15.10 Ordinary securities                          377          344

15.11 Preference securities                         24          N/A

15.12 Total                                        401          344


The dividend or distribution plans shown below are in operation.

 Dividend reinvestment plan
 Bonus option plan

The last date(s) for receipt of election notices
for the dividend or distribution plans                   11/06/1999
                          
Any other disclosures in relation to dividends (distributions)

 None


DETAILS OF AGGREGATE SHARE OF PROFITS OF ASSOCIATES

                                               Current      Previous
Entity's share of associate's                   period   corresponding
                                               AUDM       period
                                                            AUDM
                                              
16.1 Operating profit(loss) before
     income tax                                    (2)          (4)
    
16.2 Income tax expense                              -            1
    
16.3 Operating profit(loss) after
     income tax                                    (2)          (3)

16.4 Extraordinary items net of tax                  -            -
                                              
16.5 Net profit(loss)                              (2)          (3)

16.6 Outside equity interests                        -            -

16.7 Net profit(loss) attributable
     to members                                    (2)          (3)


MATERIAL INTERESTS IN ENTITIES WHICH ARE NOT CONTROLLED ENTITIES
The economic entity has an interest (that is material to it) in the 
following entities.

Name of entity     Percentage of ownership Contribution to operating
                       interest held at end      profit (loss) and 
                       of period or date of     extraordinary items
                             disposal                after tax

17.1 Equity accounted      Current    Previous   Current    Previous
     associated             period corresponding  period corresponding
     entities                          period    AUDM     period
                                                            AUDM

 Sime Merchant Bankers       26.5%      26.5%    (2,511)    (2,951)
 Berhad

                                                                   

                                                                   



17.2 Total                       -          -    (2,511)    (2,951) 

17.3 Other material 
     interests     
 
 -                               -          -          -          -

                                                                   

                                                                   


17.4 Total                       -          -          0          0 



ISSUED AND QUOTED SECURITIES AT END OF CURRENT PERIOD 

Description includes rate of interest and any redemption or
conversion rights together with prices and dates.

 Category of                  Number       Number Par value  Paid-up
 securities                   issued       quoted  (cents)    value
                                                             (cents)
 18.1 Preference
      securities
      (description)      124,032,000            - US   625 US   625


18.2 Issued during current
     period               60,016,000            - US   625 US   625
                                                                   


 18.3 Ordinary
      securities    
     


18.4 Issued during current
     period  
    
<~>                      



 18.5 Convertible debt
      securities
      (description and 
      conversion factor)           -            -        -        -


18.6 Changes during
      current period
     (a) increases through
         issues                    -            -        -        -
     (b) decreases through
         securities matured,
         converted                 -            -        -        -


 18.7 Options (description                         Exercise   Expiry
      and conversion factor)                         price     date
                                                    
      On Issue
                             268,063            -     8.76  30/01/2002
                              35,204            -     8.76  13/02/2002
                             100,000            -     8.76  23/03/2002
                             800,000            -     8.76  01/06/2002
                             198,256            -    11.45  22/01/2003
                             500,000            -    12.12  01/10/2002
                             500,000            -    11.40  01/10/2002
                             100,000            -    10.65  21/01/2003
                             100,000            -    11.40  21/01/2003
                              10,480            -    11.45  17/02/2003
                           1,450,000            -     9.51  23/02/2003
                             175,000            -    10.64  21/06/2003
                              50,000            -    10.76  30/07/2003
                             200,000            -     8.93  01/10/2003
                           1,125,000            -     8.97  27/10/2003
                             755,000            -    10.34  10/12/2003
                              10,000            -    10.41  27/01/2004
                             150,000            -    10.44  23/02/2004
                             175,000            -    11.44  24/03/2004
                                                             
                                                             

 18.8 Issued during
      current period         200,000            -     8.93  01/10/2003
                           1,125,000            -     8.97  27/10/2003
                             755,000            -    10.34  10/12/2003
                              10,000            -    10.41  27/01/2004
                             150,000            -    10.44  23/02/2004
                             175,000            -    11.44  24/03/2004


 18.9 Exercised during
      current period       1,570,000            -     5.34  30/01/1999
                              12,582            -     8.76  30/01/2002
                               1,134            -     8.76  13/02/2002


 18.10 Expired during
       current period        100,000            -    10.64  21/06/2003


 18.11 Debentures  
       (totals only)               -            -

 18.12 Unsecured notes
       (totals only)               -            -


COMMENTS BY DIRECTORS

Comments on the following matters are required by ASX or, in relation
to the half yearly statement, by AASB 1029: Half-Year Accounts and
Consolidated Accounts. The comments do not take the place of the
directors' report and statement (as required by the Corporations Law)
and may be incorporated into the directors' report and statement. For
both half yearly and preliminary final reports, if there are no
comments in a section, state NIL. If there is insufficient space to
comment, attach notes to this report.

BASIS OF ACCOUNTS PREPARATION

If this report is a half yearly report, it is a general purpose
financial report prepared in accordance with the listing rules and
AASB 1029: Half-Year Accounts and Consolidated Accounts. It should be
read in conjunction with the last annual report and any announcements
to the market made by the entity during the period. [Delete if
inapplicable.]

Material factors affecting the revenues and expenses of the economic 
entity for the current period

 Refer accompanying announcement

A description of each event since the end of the current period which 
has had a material effect and is not related to matters already 
reported, with financial effect quantified (if possible)

 There has been no significant events since 31 March 1999 to the date
 of this report.

Franking credits available (amount):                       $      -

Prospects for paying fully or partly franked dividends for at least
the next year

 ANZ expects to maintain this level of franking for the year as a
 whole.

Changes in accounting policies since the last annual report are 
disclosed as follows.

 Refer page 31 to the accompanying announcement


ADDITIONAL DISCLOSURE FOR TRUSTS

19.1 Number of units held by the management 
     company or a related party of it                           N/A
                               
19.2 A statement of the fees and commissions 
     payable to the management company.                         N/A
    
     Identify:
         initial service charges                                  -
         management fees                                          -
         other fees                                               -


ANNUAL MEETING  
(Preliminary final statement only)

The annual meeting will be held as follows:

Place                         -

Date                          -                       

Time                          -

Approximate date the  annual
report will be available      -


COMPLIANCE STATEMENT

1  This statement has been prepared under accounting policies which
   comply with accounting standards as defined in the Corporations Law
   or other standards acceptable to ASX (see note 13).

   Identify other standards used
                                                                   

2  This statement, and the financial statements under the Corporations
   Law (if separate), use the same accounting policies.

3  This statement does give a true and fair view of the 
   matters disclosed (see note 2).

4  This statement is based on financial statements to which one of the
   following applies. (Tick one)

             The financial        x    The financial
             statements have           statements have
             been audited.             been subject to
                                       review.
                                       
             The financial             The financial
             statements are in         statements have not
             the process of            yet been audited or
             being audited or          reviewed.
             subject to review.

5 If the audit report or review by the auditor is not attached, detail
  of any qualifications 
 are attached/will follow immediately they are available. 
 (Half yearly report only - the audit report or review by the auditor 
  must be attached to this report if the report is to satisfy the 
  requirements of the Corporations Law.)

6  The entity has a formally constituted audit 
   committee.


J McFarlane 
(DIRECTOR)/(COMPANY SECRETARY)
05/05/1999

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