Share Acquisition Plan

Document date:  Thu 18 Feb 1999
Published:  Thu 18 Feb 1999 00:00:00
Document No:  145606
Document part:  A
Market Flag:  N
Classification: 

HOMEX - Melbourne                                                     

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Djerriwarrh Investments Limited advises that it will introduce a
Share Acquisition Plan under which holders of Djerriwarrh shares or
convertible notes may invest up to $3,000 per year in Djerriwarrh
shares.

In the first offer under the Plan, shareholders and noteholders will
be offered shares at 7.5% below the average of the closing price on
each of the five days beginning 1 March 1999, up to a total value of
$3,000 per shareholder or convertible noteholder. Shareholders or
noteholders registered at 24 February 1999 will receive the offer by
15 March 1999 and will be entitled to take it up by 16 April 1999.


M A Licciardo 
COMPANY SECRETARY


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