29 November 2001

The Chief Financial Officer of John Fairfax Holdings Limited, Mr Mark Bayliss, was today appointed Chairman of the Business Coalition for Tax Reform (BCTR).

The BCTR - a grouping of 39 industry associations ¡V has played a key role in tax reform debates since its inception in 1997. The BCTR remains an active supporter of modernizing tax policy, particularly in lowering the cost and complexity of small business compliance and removal of taxation barriers to the offshore expansion of Australian companies.

Mr Bayliss outlined the key areas of interest for the BCTR as:

•  Ensuring the smooth introduction of the business tax reforms scheduled for introduction in the middle of 2002.

• Seeking simplification and lower compliance costs, ¡V particularly for small businesses, and promoting further improvements in tax administration.

• Providing a strong business voice in assisting the definition of the role of the new Inspector General of Taxation, a very positive move announced by the Prime Minister.

• Upgrading our international taxation arrangements in the face of more intense global pressures.

Mr Bayliss said: "There clearly remain some vital areas of tax policy that require reworking and modernising. Securing these and continuing to press for improvements in the administration of taxation will help the growth prospects of all our businesses. This is important to their capacity to invest and create jobs."

For further information: John Hine

(03) 9610 4222

(0418) 332272