Leighton sells casino shares

Issue Date:  30 June 1999
Issued By:  Leighton Holdings Limited

Leighton Holdings Limited today announced the sale of its 25 million ordinary shares in Star City Holdings Ltd to ABN AMRO for $35.3 million. The shares were carried in Leighton’s accounts at the cost price of $25 million.

Leighton Holdings Chief Executive Officer, Mr Wal King AM, said that this transaction has crystallized part of the company’s successful investment in Star City.

“At this point in time Leighton will retain its 37.45 million options in Star City and its 15% stake in the casino management company, held in trust by National Mutual Trustees,” he said.

Leighton will participate in any movement in the economic value of the 25 million shares it has sold through a separate equity swap transaction entered into with ABN AMRO today.

ENDS.

Issued by:
Leighton Holdings Limited
ACN 004 482 982

For further information:
Mr Wal King
Chief Executive Officer
Ph: (02) 9925 6912

Mr Dieter Adamsas
Director Finance and Administration
Ph: (02) 9925 6923