RNS Number:8340K
Coles Myer Ld
08 May 2003

                        Proposed issue of shares by CML.

Coles Myer Ltd (CML) announces that an entity controlled by the Karedis family,
as vendor of the Theo's Liquor chain, has opted to receive 17,857,143 fully paid
ordinary shares in part consideration of the acquisition of the Theo's Liquor
business in NSW.

The proposed issue of shares is subject to completion of the acquisition which
is currently scheduled for late May 2003. The shares would be issued to entities
associated with the Karedis family.

There are a number of conditions precedent which must be satisfied prior to
completion occurring.

Security holder approval is not required for the proposed issue of shares.

An Appendix 3B notice will be completed and given to ASX at the time the shares
are issued.




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