These payments are in addition to the $2.85 million Melbourne--maintence -- Erg Powerlan

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Date Posted: 14:27:40 02/28/03 Fri
Author: maintenance payment due ERG each yearcommencing from 30 May
Subject: These payments are in addition to the $2.85 million Melbourne--maintence
In reply to: not published you have a higher valuation NTA 's message, "valuealliance agreementTransurbansuccesful Mel crucial whole Multi interopereable idea" on 14:20:56 02/28/03 Fri

ERG LIMITED 2003-02-28 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
MEDIA RELEASE

$20 MILLION MELBOURNE SETTLEMENT PAYMENT DUE TO ERG SUBSIDIARY

The ERG Group today announced the third and final payment has become
due to its subsidiary. OneLink Transit Systems, under the terms of
the Melbourne scope creep settlement announced on 30 May 2002. The
settlement allowed a final payment of $20 million to be made to
OneLink Transit Systems on demonstration of improved availability
standards of the Melbourne automated ticketing system for public
transport passengers. OneLink has achieved these standards with a
comfortable margin, giving rise to the payment and concluding all
aspects of the settlement.

A lump sum payment of $5 million was made to OneLink today, with $3.3
million of the proceeds flowing directly through to ERG. The
remaining $15 millionwill be paid progressively to OneLink over the
remaining term of the contract that expires in March 2007.
Approximately $6 million of these funds will flow directly to ERG.
These payments are in addition to the $2.85 million increased
maintenance payment due to ERG each year and commencing from 30 May
2002.

The payment is the third instalment of a $65 million staged
settlement reached between OneLink and the Victorian Government for
all outstanding claims in relation to theMelbourne automated
ticketing system. The first payment of $25 million was paid on
announcement of the settlement terms in May 2002, and the second
instalment of $20 million was paid on signing of the contracts in
October 2002.

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