Update on acquisition of South Australian TAB

Document date:  Tue 08 Jan 2002
Published:  Tue 08 Jan 2002 00:00:00
Document No:  144611
Document part:  A
Market Flag:  Y

TAB QUEENSLAND LIMITED                        2002-01-08  ASX-SIGNAL-G

HOMEX - Brisbane                                                      

TAB Queensland Limited (TABQ) confirms that it has today received
advice from the South Australian Independent Gambling Authority (IGA)
that the IGA has:

(a) provided a recommendation to the Governor of South Australia that
    the South Australian Major Betting Operations Licence be 
    transferred to UNITAB Pty Ltd (a wholly owned subsidiary of TABQ);

(b) approved the initial Directors and Executive Officers of UNITAB
    Pty Ltd.

All conditions precedent under the Business Sale Agreement which
relate to the acquisition of the South Australian TAB have now been
satisfied. It is expected that completion of the acquisition will
occur on or about 14 January 2002.

For further comment please contact Mr Dick McIlwain Managing Director
and Chief Executive, TAB Queensland Limited on (07) 3637 1270.

R Cooke