Sydney, July 13, 2007 (ABN Newswire) - Australia's biggest gaming group Tabcorp Holdings has appointed Elmer Funke Kupper as its new chief executive. Funke Kupper has been acting CEO for the last four months after the company dumped previous chief executive Matthew Slatter following poor earnings results. Funke Kupper had been widely tipped to replace Slatter and was chosen following a global search for external candidates. Mr. Funke Kupper was formerly a senior executive at ANZ bank and was credited with improving performance at the bank's retail banking arm. Melbourne-based Tabcorp owns four of Australia's 13 casinos and has one of Australia's largest retail distribution networks with 2,100 outlets in New South Wales alone. Tabcorp has been steadily increasing profits since 2003.

Fortescue Metals today requested a trading halt ahead of an announcement about an institutional equity capital raising. The iron ore company said last month it had appointed bankers to study options that could be used to raise about $1 billion US dollars to increase production at its planned outback mine. Fortescue said then it was also looking at a possible infrastructure leasing fund for its port and rail assets, which could provide capital for an expansion to 200 million tonnes of iron ore a year. The company has appointed Citigroup and JPMorgan to advise on the possible fund raising. Fortescue Metals has turned in net loss results for the last two financial years.

Consolidated Minerals revealed today that its un-audited net profit for 2006/07 would be about $30 million-$31 million dollars, compared with a loss a year ago. This was due to higher production and mineral prices. Consolidated said it had contracted record manganese prices for early 2007/08, and expected manganese lump ore shipments to China between August and October to further improve its profitability. Consolidated Minerals experienced a trading loss last financial year after a profit highlight in 2005

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>>> CONSOLIDATED MINERALS LIMITED
>>> FORTESCUE METALS GROUP LTD
>>> TABCORP HOLDINGS LIMITED