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DSW`s ann: Major Elimination of Debt & Sale of Assets

Document date:  Thu 25 Nov 1999
Published:  Thu 25 Nov 1999 00:00:00
Document No:  155498
Document part:  A
Market Flag:  N
Classification: 

DEEPSKY WEBMARKET LIMITED                     1999-11-25  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
The Directors are pleased to announce agreement with all secured debt
holders for the restructuring of the balance sheet. As part of this
restructuring overheads will be reduced by a transfer of certain
assets and personnel.

Enclosed for release to the market is a summary of the proposals,
some of which will0
 be subject to Shareholders approval.

L Beamsley 
COMPANY SECRETARY

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