Commonwealth Numbered Regulations

INCOME TAX (EXCLUDED STBS) REGULATIONS 1997 No. 275 - SCHEDULE 2

                             SCHEDULE 2                Regulation 3

EXCLUDED stbs-1995-96 AND 1996-97 FINANCIAL YEARS
PART 1-VICTORIA GFE Resources Ltd Holding Trust Opalwood Pty Ltd Securities
Finance Corporation Ltd Southgate Control Ltd Southgate Hotel Management Pty
Ltd Southgate Trust TAC Property Investments Pty Ltd Tricontinental Australia
Ltd Tricontinental Corporation Ltd Tricontinental Holdings Ltd Twin Waters
Resort Pty Ltd Utilities Insurance Company Pty Ltd
PART 2-WESTERN AUSTRALIA GF Limited Perfin Finance Limited Perpetual Finance
Corporation Ltd R&I Investment Holdings Pty Ltd R&I Life Limited R&I Nominees
Limited Trustees of Western Australia Limited
PART 3-SOUTH AUSTRALIA 91 King William Street (No. 1) Pty. Limited 91 King
William Street (No. 2) Pty. Limited A.L.C. Proprietary Limited Airport
Development Unit Trust Ambia Pty. Ltd. Austrust Limited Balhi Pty. Ltd. Bank
of South Australia Limited Beacon Credit Corporation Limited Beneficial
Finance Corporation Limited Beneficial Leasing Pty. Limited Biddenham Pty.
Ltd. Bloodstock Management International Pty. Ltd. Blufile Pty Ltd Bondi
Investments Pty. Limited Bouvet Pty Limited Brinim Limited Bulwark Pty. Ltd.
Campbell Capital Investors Pty. Limited Campbell Capital Limited Carcoar Pty.
Ltd. Collins Street Properties Pty. Limited Collinsville Stud Pty. Ltd.
Cordington Pty. Ltd. Executor Trustee Australia Limited Export Park Pty. Ltd.
Festival City Broadcasters Limited Greenacres Proprietary Limited Gumflower
Pty Ltd IBM Centre Trust Kabani Pty. Ltd. L.G. & S. Co. Proprietary Limited
Leipa Pty. Ltd. Mindarie Keys Pty. Ltd. Miraloma Pty. Ltd. Mortgage Acceptance
Nominees Limited Ninety Seven King William Street No. 1 Pty. Ltd. Old
Collinsville Pty. Ltd. Ollago Pty. Ltd. Pacific Rim Leisure Pty. Limited
Pazadore Pty. Limited Pegasus Leasing Ltd. Porterstan Nominees Pty. Ltd. SA
Projects Limited SBSA Asia Limited SBSA Leasing Pty Ltd SGIC Nominees Pty Ltd
SGIC Pty Limited South State Finance Pty. Ltd. Southern Group Insurance
Corporation Ltd Southstate Corporate Holdings Limited Southstate Investments
Limited Southstate Leasing Limited Southstate Properties Limited Sturt Finance
Pty. Ltd. The 1991 Investment Trust The Adelaide Commercial Property Trust
(No. 1) The Myer Centre Unit Trust The Ollago Unit Trust West Collinsville
Proprietary Limited Westralian Finance Corporation Limited
PART 4-NORTHERN TERRITORY Darwin Oil Refinery Pty Ltd