cml in pre-open . . . why?eom, page-2

might be about the fate of their Myer department store

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SYDNEY (Dow Jones)--Directors of retailer Coles Myer Ltd. (CM) are gathering
for a board meeting Friday at which they may consider the fate of the Myer
department store and sign off on a capital management program that could hand
back more than A$1 billion to shareholders, the Australian newspaper reports
Thursday, without saying where it got the information.
The newspaper cites an unnamed source as saying the company's structural
review will be discussed with "Myer high on the agenda."
Coles Myer is said to have been conducting an internal review in recent weeks
with emphasis on the 61-store Myer chain, estimated to be worth about A$600
million, the newspaper says.