WAR`s Quarterly Warrant Report

Document date:  Fri 09 Oct 1998
Published:  Fri 09 Oct 1998 00:00:00
Document No:  169025
Document part:  B
Market Flag:  N
Classification:  

WARBURG DILLON READ AUSTRALIA LIMITED         1998-10-09  ASX-SIGNAL-G

HOMEX - Sydney                                                        

+++++++++++++++++++++++++
                 
Warrants  Business         Business      Business      Business
          Rule 8.9.4(a)    Rule 8.9.4(a) Rule 8.9.4(a) Rule 8.9.4(b) 
                                                          
          Warrants bought  Warrants      Warrants      WDRA's 
          back during the  exercised     outstanding   relevant
          quarter          during the    (in millions  interest in
                           quarter       unless        Underlying
                                         otherwise     Financial
                                         indicated)    Instrument
CALLS                                                  30/09/1998
____________________________________________________________________
AMCWSA    NIL              NIL             50          372652.00
AMPWSA    NIL              NIL             20          270191.00
BHPWSA    NIL              NIL             10         1956122.00
BORWSB    NIL              NIL             25           49616.00
BORWSC    NIL              NIL             10           49616.00
CCLWSA    NIL              NIL             10           25697.00  
CGHWSA    NIL             9000         24.998          312400.00
FBGWSA    NIL              NIL             50          255762.00
LHGWSA    NIL              NIL             20          500840.00
MIMWSB    NIL              NIL             25         1629825.00
NDYWSA    NIL              NIL             20         4144418.00
PNIWSA    NIL              NIL             20          590136.00
RIOWSA    NIL              NIL              8          344882.00
STOWSA    NIL              NIL              5          407860.00
TABWSA    NIL              NIL             10         1732330.00
TLIWSA    NIL          106,000          9.992         9154373.00
WMCWSA    NIL              NIL             20          406267.00 
WPLWSB    NIL              NIL             15          803646.00
WSFWSA    NIL              NIL             20          605365.00      
XAOWSA    NIL              NIL             20             --          



                          25 September, 1998

XAOWSB             NIL     NIL             20            -
XAOWSC             NIL     NIL             20            -

PUTS
______________________________________________________________
ANZWSP             NIL     NIL             25       1724237.00
BORWSP             NIL     NIL             10         49616.00 
CBAWSP             NIL     NIL             25       3279062.00    
NABWSP             NIL     NIL             25        778385.00  
TABWSP             NIL     NIL             10       1732330.00  
WBCWSP             NIL     NIL             25        811944.00   

                              
INSTALMENTS
_______________________________________________________________
AGLWSI      8,576,835      NIL       8.998408         24916.00
CBAWSI        108,334      NIL        .519877       3279062.00
ORIWSI            NIL      NIL       1.754647       1241017.00
TAHWSI        612,165      NIL       2.124765       1732330.00
  
Warburg Dillon Read Australia Limited (ACN 008 582 705) is a 
subsidiary of UBS AG
    
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