Forum Archive Index - May 2001

["David" <davida@wave.co.nz>]

Gerry, some articles of interest .
They have certainly been on a spend up


Regards Dave

CHALLENGER INTERNATIONAL LIMITED 2001-04-02 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++
NOTICE OF DIRECTOR'S INTERESTS
Section 205G of the Corporations Law
UPDATING NOTICE
Name of Director Gilbert M Hoskins
Name of Company Challenger International Limited
Date of Last
Notification to ASX 09/05/1999
Date Director's
Interest Changed -

I have a relevant interest in the following securities of the
company or related bodies corporate:
5,339,256 Shares; Nil Options: Date Changed
Progressively with bonus issues and Dividend reinvestment plan
I have an interest in the following contracts to which I am entitled
to a benefit that confers a right to call for or deliver shares in,
debentures of, interests in a collective investment scheme made
available by, the company or a body corporate:
Nil
DATE: 02/04/2001

CHALLENGER INTERNATIONAL LIMITED 2001-03-30 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++
NOTICE OF DIRECTOR'S INTERESTS
Section 205G of the Corporations Law
UPDATING NOTICE
Name of Director W E B Ireland
Name of Company Challenger International Limited
Date of Last
Notification to ASX 04/12/2000
Date Director's
Interest Changed 23/03/2001, 29/03/2001

I have a relevant interest in the following securities of the
company or related bodies corporate:
Type of security: Fully Paid Ordinary Shares
Number of securities: 31,292,334
I have an interest in the following contracts to which I am entitled
to a benefit that confers a right to call for or deliver shares in,
debentures of, interests in a collective investment scheme made
available by, the company or a body corporate:
Details: Options (expiring 31/07/2002) covering 880,000 ordinary
shares
DATE: 29/03/2001
CHALLENGER INTERNATIONAL LIMITED 2001-01-22 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++
The Directors of Challenger International are pleased to announce
that agreement has been reached in the UK with the shareholders of
Neville James Holdings Limited ("Neville James") for the purchase of
all the ordinary shares in the company for a price of GBP6.7m
(A$16.6m). The acquisition is to be funded by the issue of 3,906,862
shares in Challenger International and cash of GBP0.44 million. The
agreement is subject to due diligence and certain other conditions
which are expected to be finalised within the next few weeks.
The purchase of Neville James provides an important base for
Challenger International in the UK as it has strong management, an
operational base and a strong distribution focus especially with
independent financial advisers ("IFA'S").
The acquisition acts as a building block towards Challenger's
previously stated intention to establish a new market entry point for
its annuity business in the UK.
Neville James, which was established in 1992, manages a fund of
GBP110 million (A$270 million) investing in traded life insurance
endowment policies and is an active trader in these policies. A
traded endowment policy is a conventional with profits endowment
policy which the original policyholder has sold prior to maturity.
The secondary market is estimated at approximately GBP400 million
(A$990 million) per annum.
R B Thomas
ACTING COMPANY SECRETARY


Financial services group Challenger International has bought its
first UK property asset, Senator House in central London as part of a
diversification strategy.
It is the first property purchase made outside Australia by the
group, which plans to look for other opportunities in the UK and
Europe. Last year Challenger opened a London office, and is currently
waiting on approval for a licence to sell life products in that
market.
The purchase price, for the nine year old property was GBP83.6
million (A$238m) and will be held in Challenger's Australian life
company investment portfolio.
Senator House, is a 14,600 square metre 8 storey freestanding office
building at 85 Queen Victoria Street, London. It is located on the
west side in the "square mile of the city", 300 metres from St Paul's
Cathedral.
The building has 15 year leases to International Power, Eversheds
(major UK and European law firm), Commonwealth Bank of Australia and
Bank Ekspor Impor Indonesia, with International Power leasing over
60% of the floor space.
All the leases are full repair, maintain and insure leases, and the
expected net rental income from the property in 2001 will be GBP6.4
million (A$18.2m)
Given the excellent location in the heart of London, Challenger and
its London advisers expect strong growth in rentals over the next few
years, an excellent long-term income stream and good potential for
capital growth.
Challenger International's managing director Mr Bill Ireland said,
"of particular interest are two features: Firstly, the fact that we
have hedged all the cash flows so that there is no currency exposure
on the income streams which back our Australian annuity products in
Challenger Life.
"Secondly, this transaction demonstrates that large investment
opportunities in the UK property market can be structured with
flexibility to meet either our Australian investment needs and/or to
match liabilities for our UK Life company."
Challenger intends to commence a Life operation in the UK as soon as
the licence application, which has been lodged with the UK
authorities, is approved. This business will seek to mirror
Challenger's Australian operations as a specialist in retirement
income streams.
CONTACTS:
Sheridan Lee (02) 9247 8533, 0411 101 492
Shed Enterprises
Rodger Bacon (02) 9930 7000 Challenger to Buy Deutsche Life Ltd

20-Mar: Financial services group Challenger International said it had agreed
with Deutsche Australia, a unit of Deutsche Bank AG, to buy Deutsche Life
for $45.6 million. The purchase of Deutsche Life was declared a perfect fit
by the Challenger International with its wholly owned subsidiary Challenger
Life. Both life companies issue short and long-dated annuities to the
Australia saving and retirement market through a network of financial
planners, agents and brokers. The new net amount under management of
Challenger will now be doubled to $500 million.

DIRECTOR
Challenger International
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