AH45 Citi Fun 24

RNS Number:5267R
BIL International Limited
15 February 2002



MASNET No. 2 OF 15.02.2002

Announcement No. 2



BIL INTERNATIONAL LIMITED





SUBSTANTIAL INCREASE IN PRICE





15 February 2002 -   In response to a query today by the Singapore Exchange
regarding the substantial increase in price, BIL International Limited ("BIL")
has advised that it is not aware of any material information that might have
contributed to the increase in price of its securities.



However, the Board of BIL would like to highlight that both BIL, in the ordinary
course of its business as an active investment company, and those companies in
which BIL invests, are frequently engaged in the acquisition and disposal of
assets, and in discussions regarding potential corporate transactions and
opportunities.



By way of example, BIL has on 13 February, through its wholly-owned subsidiary,
Blue Ridge Nominees Pty Ltd, contracted to sell its entire shareholding in
Coates Hire Limited ("Coates"), comprising 8.71% of the total issued share
capital of Coates. The sale was effected via an underwritten placement through
JBWere Limited for a total consideration of approximately A$25.918 million.



BIL's book value of its interest in Coates is A$15.020 million. The excess of
the sales proceeds over the book value is approximately A$10.897 million. The
transaction is not expected to have any material impact on BIL's net tangible
assets or earnings per share for the financial year ending 30 June 2002.



Coates, which is a company listed on the Australian Stock Exchange, is a leading
general equipment hire company in Australia, servicing the construction,
maintenance, resources, civil engineering manufacturing, events and contracting
industries. Coates operates in all Australian States and Territories as well as
in Indonesia and the United Kingdom through its wholly owned subsidiary Rentair
PLC.







Submitted by Jane Teah, Company Secretary on 15/02/2002 to the SGX



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