6 February 2008

ASX Regulatory Policy Unit
20 Bridge Street (Level 7)
SYDNEY NSW 2000
regulatorypolicy@asx.com.au

Dear Sir/Madam

Non-voting Ordinary Shares

The Group of 100 (G100) is an organisation of chief financial officers from Australia’s largest business enterprises with a purpose of advancing Australia’s financial competitiveness. The G100 is pleased to provide comments on the proposed changes to the ASX Listing Rules.

The G100 supports the proposals to bring Australian requirements into line with those operating in international capital markets. The G100 considers that the proposed changes are consistent with strategies to reduce the cost of capital and to enhance the competitiveness of Australian companies in international capital markets.

In addition, the proposed change will remove another impediment to achieving flexibility in capital structures and in accessing sources of funding.

The G100 believes that the proposed conditions and safeguards to be satisfied for listing of non-voting ordinary shares are adequate.

Yours sincerely

Tony Reeves
National President