Press Release

NSX Calls, The official eNewsletter of the Newcastle Stock Exchange, Australia. http://https://www.nsx.com.au

Newcastle & Hunter Events Corporation
ABN 85 086 544 603
No 5 Lee Wharf, Honeysuckle Drive
Newcastle West 2302

PO Box 5199, Newcastle West 2302

Phone: +61 2 4974 8777
Fax: +61 2 4974 8778

Email: reception@nhevents.com.au
www.nhevents.com.au

MEDIA RELEASE

Dateline: 30th May 2001, Newcastle, Australia.

Northern National Basketball League Bid

A local corporation will be making a bid to establish National League Basketball teams based in the Northern Region.

The corporation is seeking to establish teams in the National Basketball League (NBL), the Women's National Basketball League (WNBL) and the Australian Basketball Association (ABA).

A group of business and basketball persons has formed a foundation corporation to prepare the entry bid to the respectivebasketball leagues.

Foundation members, Graham Baker, Jim Garris and Ross Lewis outlined the corporation's intentions to present their business plan to the respective basketball leagues at a media conference held today at the Newcastle Stock Exchange (https://www.nsx.com.au).

Once accepted by the leagues, the corporation would move to float on the Newcastle Stock Exchange.

The primary aims of Northern Basketball are to:

1. Establish basketball teams to compete in the NBL, WNBL & ABA competitions
2. To be a community based program representing basketball supporters and associations north of Sydney to the far NSW North Coast.
3. To provide opportunities to develop regional players and to provide opportunities to develop regional players to play at the highest level.
4. To float on the Northern Basketball corporation on the Newcastle Stock Exchange to enable the people of the regions toshare in the ownership and directions of the teams.

Ross Lewis believes that the people of the North Coast, Hunter Valley and Central Coats want their own basketball team and the teams would benefit the region's juniors.

"The region is one of Australia's strongest junior basketball areas and the young players deserve to play at the highest level without leaving the region."

Fellow director, Jim Garris, expressed confidence that the float of the corporation on the Newcastle Stock Exchange wouldalso be successful.

"There is an opportunity to create a unique sporting entity in Australia by floating on the stock exchange. More importantly, offering shares allows basketball supporters in the region and throughout Australia to own part of the teams and tohave a say in the direction of the teams."

Newcastle Stock Exchange Limited Chairman, Steve Pritchard, stated that he is delighted to be supporting the first attempt by Basketball to float on an Australian Stock Exchange.

"This approach demonstrates that the Newcastle Stock Exchange is not only a vehicle for local business to promote itself, but is a vehicle for regional community based projects to enhance and secure their financial future."

The first board meeting of the corporation will be held next week. Following this meeting, the Board will release further plans and details of support, the business plans and the stock exchange float.

ENDS

For further Information:
Jim Garris
Phone: 0414 526 487 (mobile)