Annual Report to Shareholders 1996

Board of Directors

John Brehmer Fairfax, AM

(Chairman, Non Executive Director, Age 54)
Qualifications and experience:
Board member since February 1988 and Chairman since July 1, 1990. Chairman of Marinya Media Pty. Limited. Deputy Chairman of John Fairfax Limited 1985-87 and Director 1979-87. Director of David Syme & Co. Ltd. 1981-87. Chairman of Media Council of Australia 1980-82. Chairman of Newspaper Advertising Bureau 1985-87. Chairman of Australian section of the Commonwealth Press Union 1987-92. Director of St. Luke's Hospital 1973-95. Trustee of National Parks and Wildlife Foundation of N.S.W. 1983-89. Councillor of Royal Agricultural Society of New South Wales since 1990. Chairman of Cambooya Investments Limited since 1991. Director of Australian Rural Leadership Foundation Limited since 1993. Councillor since 1979, and President since 1993 of Boys Brigade Inc.. Councillor of AMP Foundation since 1992.

Special responsibilities:
Chairman of Directors, Director of Subsidiary Companies

Timothy Vincent Fairfax

(Non Executive Director, Age 50)
Qualifications and experience:
Farmer and grazier. Board member since February 1988.
Director of Marinya Media Pty. Limited since 1987. Director of Primac Holdings Limited since 1991.
Director Stanbroke Pastoral Company Limited since 1993.
Councillor New England Girls School since 1994.
Councillor Sunshine Coast University since 1996.
Trustee Queensland Art Gallery since 1996

David James Asimus, AO

(Non Executive Director, Age 64)
Qualifications and experience:
B.Ec.(Syd), D.Sc.(Honoris Causa NSW). Farmer. Board member since June 1989. Member of Australian Wool Corporation 1973-89 and Chairman 1979-89.
Executive member C.S.I.R.O. 1969-70.
Chairman of International Wool Secretariat 1979-89. Member Australian Trade Commission 1986-91.
Director of Australian Eagle Insurance Limited 1988-92.
Director of The Broken Hill Proprietary Company Limited since 1988.
Director of I.B.J. Australia Bank Limited since 1988.
Chancellor of Charles Sturt University since 1989. Director Wesfarmers Limited since1994.
Chairman Australian Rural Leadership Foundation Limited since 1994.
Director Delta Electricity Limited since 1996.

Special responsibilities:
Member of Audit committee.

Ian George Holmes

(Non Executive Director, Age 62)
Qualifications and experience:
F.A.I.M. F.A.I.C.D. Board member since August 14, 1995.
Managing Director Grundy Organisation Pty Limited 1977-95.
Executive Director Grundy Worldwide Limited 1988-95.
Director SEA FM Limited 1986-95. Director Sunshine Broadcasting Network Limited 1991-95.
Chairman Seven Network Limited in June 1995.
Director Arena Management Pty Limited (Manager Sydney Entertainment Centre) since 1983.
Director Convex (Ql'd) Pty Limited (Manager Brisbane Convention & Exhibition Centre) since 1993.
Director Interactive Television Australia Limited 1991-96.

Special responsibilities:
Member of Audit Committee.

Bruce Gowrie Smith

(Non Executive Director, Age 56)
Qualifications and experience:
Farmer. Board member since December 1985.
Canberra Junior Farmer Award 1965.
Served on general council of United Farmers and Woolgrowers Association of N.S.W.
Chairman Oilseed Research Committee N.S.W. 1974-80.
Deputy Chairman Australian Coarse Graingrowers Association 1970-76.
Deputy Chairman N.S.W. Oilseed Marketing Board 1978-81.
Director of Rural Industries Research and Development Corporation since 1990.
Director Australian Rural Leadership Foundation Limited since 1992.
Experience in large scale irrigation development and management and the production of grains, oilseeds and vegetables.

Barry John Taplin

(Non Executive Director, Age 64)
Qualifications and experience:
F.C.A. Board member since June 1989.
Managing Director of Marinya Media Pty. Limited.
Partner in Touche Ross & Co. (CharteredAccountants) and predecessor firms 1960-89. Formerly a member of Touche Ross & Co, International Strategic Planning Group, International Banking Group and Deputy Chairman of the Australian firm.

Special responsibilities:
Chairman of Audit Committee. Trustee Director of the Chief Entity's superannuation plans.

Brian Keith McCarthy

(Managing Director, Age 44)
Qualifications and experience:
B.Comm. Appointed Managing Director Rural Press Limited June 17, 1994.
Joined Regional Publishers Pty Limited in 1976 as Group Accountant.
General Manager of Upper Hunter Publishers Pty Limited, 1983.
General Manager of Maitland Mercury, 1984.
Joined Rural Press Limited in 1987 as General Manager Special Projects.
Director Pacific Area Newspaper Publishers Association since 1993.

Special responsibilities:
Managing Director. Director of all subsidiary companies. Trustee Director of Chief Entity's superannuation plan.