Business Services Industry

BRIEFING - ASIA BANKING - APRIL 17, 2002.

AsiaPulse News, April, 2002

An executive briefing on banking for April 17, 2002, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

AUSTRALIAN BANK ACQUIRES 5% STAKE IN LISTED MORTGAGE GROUP

SYDNEY - Due to original holdings in FAI Homeloans, major Australian bank Westpac Banking Corp (ASE:WBC) now has a 5.0 per cent stake in listed mortgage group Homeloans Ltd (ASE:HOM).

In April 2001 Homeloans Ltd snapped up FAI First Mortgage Pty Ltd in a A$7 million deal from its owners - FAI Insurance Ltd and Westpac.

AOFM TO CONTINUE DEPOSIT LODGING WITH RESERVE BANK OF AUSTRALIA

CANBERRA - Australian Office of Financial Management (AOFM) chief executive Michael...

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