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UNITED ENERGY LIMITED(UEL)

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delisted at the request of the entity following implementation of scheme of arrangement

28/07/2003

we understand a Scheme of Arrangement between United Energy and its shareholders was approved by the Court and by shareholders - under the scheme Power Partnership acquired all of the shares in United Energy not already held by it for $3.15 cash per share

28/07/2003

on 23 July 2003 Alinta Ltd and United Energy Ltd entered into a scheme of arrangement under which Alinta acquired all the United Energy shares it did not already own - shareholders received $3.15 for each United Energy share they held - the date the shares were disposed of under the takeover was 23 July 2003 - according to the Australian Taxation Office, if the capital proceeds of $3.15 was more than the cost base of the share, the difference was a capital gain in 2003-04 - if $3.15 was less than the share's reduced cost base, the difference was a capital loss

23/07/2003

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