is in a down trend/puts, page-14

six months won,t take that long to go to 850 i say under a month this was back in feb they did a deal with caltex ACN 004 201 307


ASX/Media release
For immediate release
Wednesday 28 February 2004



CALTEX AND WOOLWORTHS COMPLETE
CO-BRANDED SERVICE STATION
ARRANGEMENT

Today, with Caltex, we are taking a very significant step, extending our petrol
offer to our customers nationwide resulting in quality discounted fuel near
where they shop at around 450 Caltex Woolworths service stations.
Roger Corbett

We're delighted to have finalised this association with the country's leading
food retailer in an initiative that will result in having Caltex quality fuel sold
under the Caltex Woolworths banner at an additional 305 sites around the
nation.
Dave Reeves

Woolworths Limited and Caltex Australia Limited today finalised arrangements for the
national expansion of the Woolworths' fuel discount redemption offer to around 450
sites.

Woolworths Group Managing Director and CEO Roger Corbett and Caltex Managing
Director and CEO Dave Reeves executed the final transaction documentation this
morning.

"Today, with Caltex, we are taking a very significant step by extending our petrol offer
to our customers nationwide resulting in quality discounted fuel near where they shop
at around 450 Caltex Woolworths service stations. Our popular offer to customers of
spending $30 or more in Woolworths/BIG W stores to receive 4 cents off per litre of
petrol will now be extended across the nation," Mr Corbett said.

The arrangements finalised today replace interim start-up arrangements that
commenced on 21 November 2003 and resulted in 41 Caltex sites co-branded Caltex
Woolworths accepting Woolworths fuel redemption vouchers.

The final arrangements do not differ materially from the interim arrangements under
which Woolworths sets fuel prices at the co-branded sites in accordance with
Woolworths pricing policy.

The final arrangements will see the 305 Woolworths sites become jointly branded
while Caltex expects that it will co-brand more than 130 of its sites near Woolworths'
stores. The Caltex sites involved in the arrangement will include company-operated
sites and franchisees selling fuel under a commission agency agreement.


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The re-branding of the Woolworths sites to Caltex Woolworths and the rollout of the
additional Caltex sites as co-branded stations will commence immediately and will
completed as soon as practicable.

Mr Corbett said that the addition of more than 130 Caltex sites would provide
national, cost effective and customer-convenient coverage that would ensure that the
optimum number of Woolworths supermarkets and BIG W stores would be supported
by adjacent Caltex Woolworths petrol sites.

Mr Reeves welcomed the signing of the long-term agreement.

"We're delighted to have finalised this association with the country's leading food
retailer in an initiative that will result in having Caltex quality fuel sold under the
Caltex Woolworths banner at 305 additional sites around the nation," Mr Reeves
said.

"Caltex StarCard customers will be able to use their cards at all of these additional
sites after they become co-branded, although not in conjunction with the fuel discount
redemption offer.

"We will continue to support the Caltex Star Mart and Star Shop network to provide
customers with an excellent convenience shop offer. Caltex franchisees will continue
to be supported as a major group within the remaining Caltex and Ampol network of
about 1,625 service stations."



For further information:
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