UNITAB LIMITED (ASX.UTB)

delisted following implementation of the scheme of arrangement under which Tattersall's Limited has acquired all of the shares in the Company

we understand the merger by way of scheme of arrangement between UTB and Tattersall's Limited was a "merger of equals" - the Scheme provided for three alternative forms of consideration for each UTB shareholding: Option 1 - All Shares Option: 4.33 TTS shares for each UTB share. Option 2 - Fixed Proportion Cash Option: $14.25 cash for each UTB share for 28% of a UTB shareholding and 4.33 TTS shares for each UTB share for the remaining 72% of a UTB shareholding. Option 3 - Maximise Cash Option: $14.25 cash for each UTB share for 100% of a UTB shareholding, subject to a pro-rata scale back depending on the number of UTB shareholders who elect the cash alternatives. (the total cash consideration under the Scheme was $532 million and shareholders who chose the Maximise Cash Option were subject to a pro-rata scale back if the total consideration to be paid to the Scheme shareholders who elect the Fixed Proportion Cash Option and the Maximise Cash Option exceeded $532 million)

for capital gains tax purposes rollover relief is available to the extent that UniTab shareholders exchanged their shares for Tattersalls shares but not for the cash amounts received - if investors choose roll-over they work out their capital gain (if they received any cash) by subtracting a portion of the cost base of their UniTab shares from the value of cash that they received; if they received no cash in the arrangement, they have no capital gain - if roll-over does not apply investors work out their capital gain or loss by comparing the total cost base of their UniTab shares with the total value (as at the disposal date) of the cash and/or shares that they received - the acquisition cost of new Tatterstalls shares depends on if investors chose the mix of cash and shares option (then, to the extent that investors choose roll-over, they work out the acquisition cost of their new Tattersalls shares by allocating a portion of the cost base of their UniTab shares to it) the shares only option and applied roll-over (then the cost base of the new Tattersalls shares is the cost base of the UniTab shares) - to the extent that roll-over does not apply the acquisition cost of investors' new Tattersalls shares is the market value of the UniTab shares on the implementation date - the disposal date of the UniTab shares was 12 October 2006

Tattersall's Limited today announced that following the completion of the merger with UNiTAB Limited, and after a careful review of the basis upon which a bid would be required to be made by Tattersall's under the UK Government's Invitation to Apply (ITA) for the licence to run the UK National Lottery from February 2009, it will not submit a bid when applications close in January 2007

we understand that on or about this date the company undertook, proposed to undertake or was the subject of the following corporate action: - UNiTAB shareholders will be offered 4.33 Tattersall's shares for each share they hold - this corporate event may appear elsewhere in this company record

securities suspended from quotation at the close of trading today, Wednesday 27 September 2006, following the lodgement with ASIC and ASX of the court order in relation to the scheme of arrangement with Tattersall's Limited (the "Scheme") and pending the implementation of the Scheme

name changed from TAB Queensland Limited