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PMP & Australian bankers negotiate new facility

Document date:  Thu 05 Jul 2001
Published:  Thu 05 Jul 2001 15:32:52
Document No:  178368
Document part:  A
Market Flag:  N
Classification:  Issued Capital - Other , Other

PMP LIMITED                                   2001-07-05  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

PMP Limited and its Australian bankers, comprising NAB, Westpac,
Toronto Dominion and ANZ, are negotiating a new facility agreement to
refinance the company's domestic borrowings. This will replace the
existing bank agreements and will be completed in August.

The $50 million Westpac facility had previously been extended and
will be included in the new facility currently being negotiated.

PMP has the full support of all its banks and has more than adequate
funding to support the ongoing requirements of the group. The company
has $663 million of debt facilities currently available. In addition
to undrawn facilities of $47 million, the company is holding cash of
$58 million.

D Rowland