Forum Archive Index - February 2000

["ritchie marr" <ritchie_marr@hotmail.com>]

>BLISS CORPORATION LIMITED
Proposal from Oceanis Holdings Pty Ltd
Document date: Wed 02 Feb 2000 Released time: Wed 02 Feb 2000 13:29:39
Document No: 157857  Document part: A
Market Flag: N
Classification: Other

--------------------------------------------------------------------------------
BLISS CORPORATION LIMITED                     2000-02-02  ASX-SIGNAL-G

HOMEX - Melbourne

+++++++++++++++++++++++++
We refer to the previous announcement made to the Australian Stock
Exchange on 20 December 1999.

The Board of Bliss Corporation Limited ("Bliss") wishes to advise
that Bliss has entered into conditional contracts with two separate
companies, Oceanis Holdings Pty Limited ("Oceanis Holdings") and
Aquaria 21 Limited ("A21"), both involving the acquisition of
aquarium complexes.

The purchase from Oceanis Holdings, a company controlled by Mr Peter
O'Brien, entails the acquisition of:

* ownership and management of the UnderWater World and The Wharf
retail complex at Mooloolaba, Queensland;
* ownership and management of the newly opened Melbourne Aquarium; and
* a project in Pusan, South Korea to construct and operate an
aquarium.

The purchase from A21, a New Zealand public company listed on the New
Zealand Stock Exchange, entails the purchase of an aquarium operating
in Shanghai, currently managed with the assistance of Oceanis
Holdings.

Consideration for the acquisitions is by way of an issue of 350
million ordinary shares of Bliss at an issue price of 14 cents. At
present Oceanis Holdings controls 19.9% of the issued share capital
of Bliss. Subsequent to the acquisition Oceanis Holdings will control
60.6% and A21 32.7% of the issue share capital of Bliss.

Both contracts are conditional on the other proceeding.

A further condition of the contracts is the requirement for Bliss to
convene a shareholder meeting to approve the acquisitions. A meeting
of shareholders will be called shortly and an explanatory memorandum
will be issued together with the notice of meeting to all
shareholders.

A21 has indicated its intention to sell down all or part of the
shares issued to it by Bliss in consideration for the acquisition of
the Shanghai Aquarium by Bliss. Any representations or releases made
by A21 in respect of the sale of those shares have not had the
approval of the Bliss Board. When approval has been given by Bliss a
further statement and associated documents will be released to the
Australian Stock Exchange.

Trading in shares on the Australian Stock Exchange of Bliss' ordinary
shares will remain suspended until after shareholders have considered
the acquisition.

W Kember
COMPANY SECRETARY


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