AH45 Citi Fun 24

RNS Number:4527U
BIL International Limited
12 April 2002

MASNET No. 24 OF 12.04.2002

Announcement No. 31



BIL INTERNATIONAL LIMITED


REMOVAL OF BIL SECURITIES FROM OFFICIAL QUOTATION ON AUSTRALIAN STOCK EXCHANGE


12 April 2002 - The Board of Directors of BIL International Limited ("BIL")
wishes to announce further details in connection with the removal of BIL
securities from official quotation on Australian Stock Exchange ("ASX") on 1
July 2002.  BIL has a primary listing in Singapore and currently has secondary
listings in London, New Zealand and Australia.



The ASX has advised that it is amending the admission criteria for entities
listed on the ASX in the Foreign Exempt category such that entities in this
category will be required to have both A$2 billion of net assets and A$200
million profit after tax in each of the previous three years.  With these
changes, BIL is no longer able to meet the admission criteria and its securities
will be removed from quotation of the official list of ASX on 1 July 2002.



Meanwhile, BIL has made arrangements with its broker, JBWere Limited ("JBWere")
in Australia to allow BIL shareholders who are currently on the Australian
register of the company ("Australian Shareholders") to sell their BIL Shares on
the New Zealand Stock Exchange ("NZSE") after removal from the official list in
Australia and transfer to the NZSE, should they so desire.   This trading
arrangement, which will be operated through JBWere's Were OnCall division, will
operate from 1 July 2002 to 31 December 2002.



Following the removal of the securities of BIL on 1 July 2002, all holdings on
the Australian register will be transferred to the New Zealand register.  Once
the securities are transferred to the New Zealand register, Australian
Shareholders will receive a holding statement with a Shareholder Number.  For
those who are already on the New Zealand Register, their BIL shares will be
added to their current holding.



Australian Shareholders will also receive a FIN number (Faster Identification
Number) issued by Computershare Registry Investor Services Ltd, the equivalent
of a bank PIN number (Personal Identification Number), via post under separate
cover.



Should any Australian Shareholders wish to sell their BIL shares on the NZSE
following the removal of the securities from the official list of ASX in
Australia using the JBWere facility, they should fax or post the following
details to JBWere:



•         Include the heading or identification "BIL International New Zealand
Share Sale Facility";

•         Include a copy of the New Zealand holding statement;

•         Indicate an instruction to "sell at best on market";

•         Advise their FIN number;

•         Advise Australian or New Zealand bank account details for payment,
i.e. complete BSB number, branch name and account name (payment will only be
made to bank accounts where the account name is the same as the name on the
holding statement);

•         Specify for payment to be in NZ$ or A$; and

•         Provide a contact telephone number.



Details may be faxed to JBWere's Were OnCall on 1300 306 506 (cost of a local
call within Australia).  Alternatively, details can be posted to:


                  BIL International New Zealand Share Sale Facility
                  c/o Were OnCall
                  GPO Box 4619SS
                  Melbourne, Vic   3001



Following receipt of a valid holding statement and instructions, JBWere will
arrange to sell the shares on the NZSE at the prevailing market price.  A
contract note (in the currency selected) will be provided and a settlement
payment made on the settlement date.  Remittance of funds in Australian dollars
will be subject to prevailing foreign exchange rates.  Any BIL shareholder
selling their shares in this manner ("BIL Shareholder") acknowledges that:



•         Execution and settlement will occur in accordance with the rules of
the NZSE;

•         The sale price of any BIL Shares sold using this facility will depend
on the prevailing market price for BIL at the time of execution of the sale on
the market and neither BIL nor JBWere will be responsible, and each BIL
Shareholder agrees to hold them harmless, for any loss suffered by any BIL
Shareholder as a result of any sale instruction; and

•         Neither JBWere nor BIL has given any BIL Shareholder any advice or
made any recommendation relating to the sale of any BIL Shareholder's shares.



Brokerage charges of 1.0% of sale value, with a minimum charge of NZ$50 will
apply, as will any other statutory charges and taxes (such as goods and services
taxes).  Those fees would be deducted from the sales proceeds.



Should shareholders wish to contact their registrars, their details are as
follows:



Share Registrars:-



Australia  (Until 1 July 2002)
Computershare Investor Services Pty Ltd
Level 3, 60 Carrington Street
Sydney, NSW 2000
Australia



Tel:  +61 (2) 8234 5478
Fax: +61 (2) 8234 5190



New Zealand
Computershare Registry Investor Services Ltd
Level 2, 159 Hurstmere Road
Takapuna, North Shore City 1309
Private Bag 92119
Auckland
New Zealand



Tel:  +64 (9) 488 8777
Fax: +64 (9) 488 8787



United Kingdom
Computershare Investor Services PLC
PO Box No 82
The Pavilions
Bridgwater Road
Bristol BS99 7NH
United Kingdom


Tel:  +44 (870) 702 0000
Fax: +44 (870) 703 6116



Singapore
M&C Services Private Limited
138 Robinson Road #17-00
The Corporate Office
Singapore 068906


Tel:  +65 6227 6660
Fax: +65 6225 1452



BIL is sending a copy of this announcement to each of the Australian
Shareholders.



Enquiries:
BIL International Limited, Singapore       Tel: +65 6438 0002
JBWere Limited, Australia                  Tel: 1300 722 422



Submitted by Jane Teah , Company Secretary on 12/04/2002 to the SGX



                      This information is provided by RNS
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