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By nature, the foundation shares are restricted in that they cannot be sold on the market, i.e. through the stock exchange, and can only be sold with the approval of the Queensland Government, the Jupiters' Board and the other foundation shareholder.

For some time now, CSS/PSS Pty LTD have been actively pursuing options which would change this situation and allow the shareholding to be liquid (that is, to be able to be sold on the market).

Following extensive discussions, agreement has now been reached between Jupiters, CSS/PSS Pty LTD, the other foundation shareholder and the Queensland Government. The agreement involves:

• Changes to legislation which will defound the CSS/PSS shareholding
• A selective buy back of up to 50% of the CSS/PSS Pty LTD foundation share

The agreement announced today is subject to the approval of the ordinary shareholders in Jupiters at a meeting likely to be held on 4 April 2002.

The selective buy back of CSS/PSS Pty LTD shares will be at a price, which is 95% of the volume, weighted average share price of Jupiters over the last 90 calendar days. Up to 50% of CSS/PSS Pty LTD shares will be bought back by Jupiters (i.e. sold by CSS/PSS Pty LTD) depending on the amount of funds raised by Jupiters through a reset preference share issue.

Whilst the price achieved for the shares to be sold by SS/PSS Pty LTD may be lower than he current share market price, the Board of CSS/PSS Pty LTD has agreed to the arrangement for the following reasons:

• The shares could never be sold "on the market" and have therefore always been valued at less than the market price because they were illiquid and subject to restrictions
• The price achieved is very good in historical terms and represents the realization of very good investment return
• The remaining shares, which are held in trust for the funds, will now be liquid and may be sold on the market. They can also be valued at the market price.

Commenting on the announcement, the Chief Executive Officer of CSS/PSS Pty LTD, Mr. Steve Gibbs, said, "we welcome this announcement as the arrangement is beneficial to all parties and achieves for the CSS and PSS funds liquidity which we have been seeking for some time. Whilst our remaining shares in Jupiters are now liquid, it is not our current intention to sell the balance of our investment".

20 February, 2002