Idoport Seeks Leave to Appeal - 27 May 2002

Idoport Pty Limited ("Idoport") today served applications filed in the NSW Court of Appeal seeking leave to appeal against the decision of his Honour Mr Justice Einstein of 29 January 2002 dismissing the proceedings brought by Idoport against the National Australia Bank Limited and others.

Mr Justice Einstein dismissed the proceedings brought by Idoport because of Idoport's failure to make payment of security for the National's costs ordered by the Court in September 2001. Idoport was ordered to pay the National's costs of the dismissed proceedings. The hearing of the main case had commenced on 24 July 2000.

Idoport had filed holding summonses for leave to appeal against the orders dismissing the various claims on 25 February 2002 . This effectively gave Idoport up to three months to decide whether to appeal. Today was the last day in that three month period to serve the applications for leave to appeal.

Mr Ross Pinney, Executive General Manager, said today: "We expected Idoport to seek leave to appeal. We will ask the Court to hear the applications for leave to appeal expeditiously and will strongly oppose them.