BUSINESSWEEK ONLINE : JUNE 28, 1999 ISSUE
BUSINESSWEEK INVESTOR

First Australia's Biggest Bets


COMPANY/                   INDUSTRY    PERCENT       P-E**
ADR TICKER SYMBOL                    OF ASSETS*

NATIONAL AUSTRALIA NAB     Banking      9.8%         13.1
TELSTRA TLS                Telecom      9.4          28.5
WESTPAC BANKING WBK        Banking      7.0          13.1
ANZ BANKING GROUP ANZ      Banking      6.0          12.8
NEWS CORP. NWS             Media        5.8          33.6


*As of May 31
**Estimated fiscal 1999 earnings, as of June 14

DATA: FIRST AUSTRALIA FUND, BLOOMBERG FINANCIAL MARKETS


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