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NBH`s Domestic Medium Term Note Programme to be Established

Document date:  Mon 29 Nov 1999
Published:  Mon 29 Nov 1999 00:00:00
Document No:  155634
Document part:  A
Market Flag:  N
Classification: 

NORTH LIMITED                                 1999-11-29  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
North Limited today announced that it is establishing a Domestic
Medium Term Note Programme for up to a total value of A$700 million.
The establishment of the programme is part of the company's long term
funding strategy and, as such, no time frame has been set for any
issues under the programme.

Westpac Ban0
king Corporation and Warburg Dillon Read have been jointly
mandated to lead manage the first issue, with the programme being
arranged by Westpac.

A total of five dealers have been appointed to the programme. In
addition to Westpac and Warburg Dillon Read, the panel will include
ANZ, Commonwealth Bank and National Australia Bank.

North's Managing Director, Mr Malcolm Broomhead, said that "North
believes that the strength of the domestic capital market provides
an opportunity0
 for the company to diversify its funding investor
base and to extend its debt maturity profile. We believe the domestic
market will further evolve and will become an ongoing source of
competitive funding for the company."

North is rated A- by Standard and Poor's and Moody's has assigned a
Baa2 rating to the 144a Notes issued in the US capital markets by
North Finance (Bermuda) Limited, based on the guarantee provided by
North Limited.

For further information:

* Malcolm Pe0
arce, TREASURER, North Limited
  Tel: (03) 9207 5116 (business)

* Julie Hunter, DIRECTOR CAPITAL MARKETS, Westpac
  Tel: (02) 9284 8788

* Mark Langsworth, EXECUTIVE DIRECTOR, Warburg Dillon Read
  (02) 9324 3943

* Internet Location: http://www.north.com.au

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