Snowy Hydro - Corporate - Initial Public Offer Information

Snowy Hydro - Corporate - Initial Public Offer Information: "Each of the three shareholders of Snowy Hydro Limited - the Commonwealth of Australia and the States of New South Wales and Victoria - have now announced that they will seek to have Snowy Hydro Limited listed on the Australian Stock Exchange and they will then sell their shareholding in Snowy Hydro Limited by an Initial Public Offer. It is expected that the Prospectus relating to the sale of shares in Snowy Hydro Limited will be issued in May 2006. "