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Private Financing Panel Announced

The Minister for Defence, John Moore, today announced the selection of preferred tenderers to assist Defence make best use of private financing opportunities.

A panel of financial advisers will be established to provide advice to Defence on private financing policy, tender documentation and to assist Defence in assessing private financing initiatives.

"The appropriate use of private financing will provide better value for the taxpayer's dollar, through improved funding mechanisms, innovative design and service delivery, better risk sharing and improved management arrangements for Defence projects," Mr Moore said.

"I have indicated on a number of occasions the importance I place on private financing and other innovative approaches for delivering more cost-effective services and capabilities.

"The appointment of this panel is another important step forward in the Government's program of improvement in the management of Defence," said Mr Moore.

Thirteen companies have been invited to enter into negotiations to become members of the Panel of Financial Advisers to Defence. The companies are:

* ABN AMRO Australia
* Arthur Andersen Australia
* Deloitte Consulting Pty Ltd
* Deutsche Bank
* Grosvenor Management Consulting
* KPMG Corporate Finance (Aust) Pty Ltd
* Macquarie Risk Advisory Services Limited
* National Australia Bank Group
* PricewaterhouseCoopers
* PSI Consulting Pty Ltd
* Rothschild & Sons (Aust) Ltd
* Spectrum Corporation Australia Pty Ltd
* UBS Warburg Australia Ltd.

More information is available from Commodore Syd Lemon on 02 6266 3477
0401 144732.

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