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NMH`s ann. re: Press Speculation

Document date:  Mon 07 Sep 1998
Published:  Mon 07 Sep 1998 00:00:00
Document No:  140609
Document part:  A
Market Flag:  N
Classification: 

NATIONAL MUTUAL HOLDINGS LIMITED              1998-09-07  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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NATIONAL MUTUAL - PRESS SPECULATION

Over the weekend many staff will have become aware of further
speculation over National Mutual's plans for its future.

Both Tony Killen and myself have, in recent times, made a number of
comments about our intention to grow the Australian and New Zealand
businesses, including the prospects of merger or acquisition
opportunities.

It is a time of significant rationalisation within the Australian and
New Zealand financial services market and it is therefore not
surprising that other participants in the market express similar
intentions. It is also quite normal for financial journalists to
speculate on these matters, and a great deal of that has occurred
over the last few days.

An incredible amount of great work has been done by both the NMH and
Australian and New Zealand business teams over the last few months
and it would be most unfortunate if that work was jeopardised or
interrupted by speculation of this sort.

It is also usually unhelpful in these circumstances for National
Mutual to respond in detail to the matters raised. It is, in our
view, far better to get on with the work of planning for National
Mutual's future. However, I think it is important to make the point
that have had no discussions of any substance with the ANZ Bank or
any other party. We will therefore not be responding to press
speculation on matters of strategic interest to National Mutual.


K D Le Plastrier
GENERAL COUNSEL &
COMPANY SECRETARY                                                                                                                                                                                                                                                                                1