Subject: File No. S7-31-99 - Selective Disclosure and Insider Trading

Date:    07/18/2000 3:32 PM
     
     
Dear Sir/Madam
     
The Australian Securities and Investments Commission has recently 
considered the problem of selective disclosure in Australian capital 
markets and outlined various proposals to improve such disclosure. 
     
Because of the interest that has arisen in the topic, a partner of 
our firm will be delivering a paper at a conference of mining and
petroleum lawyers which deals with these issues and the current regime 
of Australian Corporations Law and Australian Stock Exchange Listing 
Rules. 
     
This paper also refers to the Securities and Exchange Commission's 
proposed rule on selective disclosure and insider trading and many of 
the issues raised in the proposed rule. 
     
We feel there would be considerable interest from those participating 
in the conference in the status of your proposed rule and the timing 
of its introduction. 
     
We would be grateful if you could provide any information which might 
assist us.
     
Yours faithfully
Simon Venus

Piper Alderman Lawyers