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05 August 1999

News Release

WARNING - GOLD COAST BETTING SCHEME

A betting scheme promoted by Enterprise Solutions 2000 which suggests that investors can earn up to $8000 per month has been taken to court by the Australian Securities and Investments Commission (ASIC).

We draw your attention to the media release of ASIC below.

The betting scheme has been advertised in New Zealand. A sample of this is also attached.

Norman F. Miller
Senior Executive (Operations)

Australian Securities & Investments Commission

Issued on Tuesday 27 July 1999

ASIC ACTS TO PROTECT INVESTORS' FUNDS
IN A GOLD COAST BETTING SCHEME

The Australian Securities & Investments Commission (ASIC) today obtained undertakings in the Supreme Court in Queensland from Enterprise Solutions 2000 Pty Ltd which recently promoted a betting scheme suggesting investors could earn up to $8000 a month.

Enterprise Solutions 2000 Pty Ltd and Hong Kong Multis Pty Ltd are related entities with Adrian Leslie Rebbeck being a director of each of these companies.

ASIC obtained undertakings that until further order in the Supreme Court of Queensland Enterprise Solutions 2000 Pty Ltd, Hong Kong Multis Pty Ltd, Investment Solutions 2000 Pty Ltd and Adrian Leslie Rebbeck will:

refrain from carrying on unlicensed investment advice business or securities business;
refrain from issuing or offering for subscription securities made available by the companies without having registered a prospectus which complies with the Corporations Law;
refrain from operating the scheme presently conducted by them and known as the Hong Kong Multis Fund, which is not registered under the Corporations Law;
refrain from dealing with money held by them on behalf of third parties in relation to the operation of an investment and/or betting scheme including, but not limited to any scheme described as the Hong Kong Multis Fund;
refrain from dealing with bank accounts in Australia and accounts outside the jurisdiction held in Vanuatu and Hong Kong;
provide ASIC with an affidavit giving details of the investors and the amounts contributed to the program;
Adrian Rebbeck deliver his passport to the Court and not leave the jurisdiction.

Queensland Regional Commissioner Barrie Adams said ASIC took this action to preserve the holdings of the companies and protect the interests of investors.

Before investors decide to invest in a scheme they should receive appropriate advice from a licensed investment adviser in relation to whether the scheme has been registered with ASIC.

Issued by:
ASIC Media Unit
Tel: (02) 9911 2683

Further information call:
Barrie Adams
Queensland Regional Commissioner
ASIC Queensland Regional Office
Tel: (07) 3867 4704
Mobile: 0411 549 111
ASIC 99/256

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