NO.007

FOREIGN INVESTMENT POLICY: SHAREHOLDINGS IN VILLAGE ROADSHOW

LIMITED

Under the Government’s foreign investment policy, all direct (ie, non-portfolio)

investments by foreign interests in the media sector, irrespective of size,

require prior approval. Acquisitions of portfolio share holdings of 5per cent

or more must also be submitted for examination.

In administering this policy the Treasury has initiated action seeking information

from parties who have acquired shares in Village Roadshow Limited on behalf

of a number of foreign investors, including interests held by Swiss bank nominees.

CANBERRA

9 February 2004

Contact: David Alexander

02 6277 7340