Announcement to ASX re Due Diligence for Possible Sale

Announcement to ASX re Due Diligence for Possible Sale

18-Apr-2001

On Saturday, January 27 2001 Mr Kartar Singh Thakral advised the Thakral Holdings Limited Board that the Thakral family had entered into discussions which might result in the disposal of their shares in Thakral Holdings Limited. A copy of that letter was sent to the Australian Stock Exchange on January 29 2001.

Following discussions between the family and its adviser with a third party, the Board of Thakral Holdings Limited has received a request from that party to conduct due diligence in relation to a proposal that may lead to the acquisition of all of Thakral's hotel, retail and commercial assets. The Groups development assets are excluded from this proposal. The Board today agreed to the request.

The Board of Thakral Holdings Limited has not yet commenced any discussion with the party relative to the proposal.

Please provide us with your confirmation of release announcement.

Yours faithfully,



Andrew Horne
Group Company Secretary

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