SCHOOLBLAZER LIMITED — M&A Activity 2002

Nov 19, 2002

Level 5, 34 Hunter Street Sydney NSW 2000 GPO Box 4406 Sydney NSW 2001

Phone: +612 9221 7155 Fax: +612 9233 2713 Email: hgl@hgl.com.au Web: www.hgl.com.au

HGL Limited ABN 25 009 657 961

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Confidentiality Notice: Please be informed that any use, copying, disclosure orrellance on the contents of this facsimile by anyone other than the namedaddressee will be in breach of laws relating to confidential informa

Attn:	Companies Announcement Office	Date:
Company:	Australian Stock Exchange Limited	20 November 2002
Fax Number:	1300 300 021	Total number of
Subject:	HGL Bid for Lemarne - Despatch of Offers	pages: 4(including header)

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Level 5, 34 Hunter Street Sydney NSW 2000 GPO Box 4406 Sydney NSW 2001

Phone: +612 9221 7155 Fax: +612 9233 2713 Email: hgl@hgl.com.au Web: www.hgl.com.au

20 November 2002

Companies Announcement Office Australian Stock Exchange Limited Level 4 20 Bridge Street SYDNEY NSW 2000

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Dear Sirs

HGL BID FOR LEMARNE: DESPATCH OF OFFERS

We refer to our letter of today which enclosed a copy of the bid booklet as sent.

Enclosed is a copy of an Acceptance Form as sent with the bid booklet.

Yours faithfully

M P Mahoney Company Secretary

Encl

Acceptance Form

This is an important docurnent. If you are in doubt as to how to complete this form please consult your financial or other professional adviser immediately or telephone Computershare Investor Services Pty Ltd on 1300 855 080. Use this form to accept HGL Limited's (ACN 009 657 961) offer to acquire some or all of your Shares in Lemarne Corporation Limited (ACN 004 834 584) ("Lemarne").

1. Your details

If any of the above details are incorrect, please amend them and initial the alterations.

If your Lemarne Shares are held on the Issuer Sponsored Subregister (denoted by the fact that your holder number shown above begins with an "I") please read overleaf and then sign in the space provided at the bottom of this page.

2. Acceptance

You can accept the Offer for SOME or ALL of your Lemarne Shares

I wish to accept the Offer in respect of:

ALL of my Lemarne SharesΩR
Some of my Lemarne Shares
when the control		. . 7	. v

(If selling part only, insert number you wish to sell.)

If you do not cross either box or if you cross the SOME box but do not specify the number of Lemame Shares you wish to sell, or you specify a number greater than the number you hold, you will be deemed to have accepted the Offer for ALL of your Lemarne Shares.

4. Sign here

I/We, the person(s) named above, being the holder(s) of the Lemarne Shares accept the Offer in respect of the number of my/our Lemame Shares stipulated above and heraby agree to transfer to HGL Limited the Lemarne Shares for the consideration specified in the Offer and agree to be bound by the terms and conditions of the Offer, including my/our representations, warranties and agreements set out in clause 7 of the Offer.

If this form is signed under Power of Attorney, the Attorney declares that he has no notice of revocation of that power.

	Individual or Securityholder 1		Securityholder 2	Securityholder 3
	<		۰۰	$\mathcal{A}_1$ and $\mathcal{A}_2$the control of the state of the con-CONSTRUCT
Director			Director/Company Secretary	Sole Director and Sole Company
Day	Month	Year		Secretary
			$\sim$

Please provide a telephone number so that we can contact you if we have any questions about this Acceptance Form:

Telephone Number:

You must complete, sign and return this Acceptance Form to one of the addresses shown overleaf BEFORE the Offer closes. Your acceptance must be received by no later than 7.00 pm Sydney time on 23 December 2002 (unless the Offer is withdrawn or extended).

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3. Write your Broker details (or other CHESS Sponsor)

If your Lemarne Shares are held on the CHESS Subregister (check your details above), to eccept this Offer you can:

"Contact your Broker - (you do not need to, but may, return this form - see clause 5.3(c) of the Offer)

OR

* If you want us to contact them on your behalf, write their details here and sign and return this form

Broker details for CHESS Subregister only

Name
Address

HOW TO ACCEPT THE OFFER

Your acceptance must be received by no later than 7.00 pm Sydney time on 23 December 2002 (unless the Offer is withdrawn or extended).

Words used in this Acceptance Form (for example "Lemarne Shares") have the same meaning as they have in the Offer.

Instructions for Issuer Sponsored holders.

You must indicate whether you wish to accept the Offer for ALL or SOME of your Lemarne Shares by crossing ("X") the relevant box. If you do not cross either box you will be deemed to have accepted the Offer for ALL of your Lemarne Shares.

If you have recently sold or bought Lemarne Shares:

• . If you have sold all of your Lemarne Shares send this Acceptance Form, unsigned, to the broker who acted for you on the sale.
• If you have sold some of your Lemame Shares or bought some Lemarne Shares arriend the number of shares held by you on the Acceptance Form, initial the amendment and write next to it the name and address of the broker who acted for you on the sale or purchase.

If you have crossed the SOME box then you must indicate how many Lemarne Shares you wish to sell. If you cross the SOME box but do not specify the number of Lemarne Shares you wish to sell you will be deemed to have accepted the Offer for ALL of your Lemarne Shares

Sign and Date the Acceptance Form

• Joint Shareholders: All of you must sign this Form.
• Companies: execution by a company must be:
  • (a) if it has a sole director who is also sole secretary, by that director;
  • (b) in the case of any other company, by either 2 directors or a director and secretary.

The use of the common seal of the company, in addition to those required signatures, is optional.

Power of Attorney and Deceased Estate: If this form is signed under power of attorney, or by the executors of a deceased estate, or by the administrators, the relevant power of attorney, probate or letters of administration, together with any other documents required by law, must be attached.

IF YOU HAVE ACCEPTANCE PROCEDURES ENQUIRIES YOU MAY CONTACT COMPUTERSHARE INVESTOR SERVICES PTY LIMITED.

Telephone: 1300 855 080

PLEASE COMPLY WITH THIS SECTION IF YOU HAVE RECENTLY BOUGHT OR SOLD LEMARNE CORPORATION LIMITED SHARES

IF YOU HAVE SOLD all of your Lemame Shares, please send this Form, unsigned, to the broker who acted on your behalf.

IF YOU HAVE SOLD part of your Lemarne Shares recently or IF YOU HAVE BOUGHT Lemarne Shares recently, please write the name, address and telephone number of your broker in the space provided below.

Broker's Name: Address.

Telephone:

RETURN THE FORM AND ANY OTHER DOCUMENTS BY:

posting it, using the reply paid envelope enclosed, to: COMPUTERSHARE INVESTOR SERVICES PTY LTD GPO BOX 7045 SYDNEY NSW 1115

delivering it to: OR COMPUTERSHARE INVESTOR SERVICES PTY LIMITED LEVEL 3 60 CARRINGTON STREET SYDNEY NSW 2000

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