2003 Media Releases

Nexus is pleased to announce it has successfully raised A$70 million of Portfolio Linked Floating Rate Notes (FRN), an increase on the A$56 million Principal Amount, as stated in the Prospectus.

Portfolio Linked FRNs are the second public investment product to be offered by Nexus and has received two independent ratings: a ‘BBB’ credit rating by Standard & Poor’s Rating Services and an investment grade rating by ASSIRT research.

Key features of the Portfolio Linked FRNs are:

• interest at a floating rate equal to the 90 Day Bank Bill Rate plus 3.25% per annum, paid quarterly in arrears
  The interest rate for the first quarterly period has been set at 8.7517% being the 90 Day Bank Bill Rate of 5.5017 plus 3.25%
• An investment based on debt obligations owed to the Deutsche Bank Group
  Each Portfolio Company is investment grade rated at the time of inclusion (including the issue date of 16 December 2003) of its Debt Obligations in the Portfolio
• a 6 year term;
• investors do not pay application, management or exit fees to Nexus.
• Ability to trade Portfolio Linked FRNs on the ASX

The final principal amount of A$70 million of Portfolio Linked FRNs was issued on 16 December 2003. Deutsche Bank is Arranger to the issue. Nexus has sought approval for the commencement of trading of Portfolio Linked FRNs on the ASX on Monday, 22 December 2003.

Portfolio Linked FRNs are classified as unsecured notes for the purposes of section 283BH of the Corporations Act.

For further information contact:

Alex Gotshall 9221 4433 
Kate Abrahams 9258 2416

About Nexus

Nexus has been established to provide investors with investment opportunities normally only available to the professional investment community. Nexus is an Australian limited liability company incorporated under the Corporations Act. Through its arrangements with Deutsche Bank and other service providers, Nexus is developing new investment products for investors. These investment products are designed to provide defined risk profiles, maturities and returns.