IN THE FEDERAL COURT OF AUSTRALIA)

                                  )

VICTORIA DISTRICT REGISTRY        )       No. VG 3286 of 1994

                                  )

GENERAL DIVISION                  )

B E T W E E N:

           DEPUTY COMMISSIONER OF TAXATION OF THE

                  COMMONWEALTH OF AUSTRALIA

                                                   Applicant

                           - and -

       PDDAM PTY LTD (Receiver and Manager Appointed)

          (Subject to Deed of Company Arrangement)

                                            First Respondent

         GRAEME LLOYD SMITH (as Administrator of the

        Deed of Company Arrangement of Pddam Pty Ltd)

                                           Second Respondent

JUDGE:    Heerey J

DATE:     15 April 1996

PLACE:    Melbourne

                         CORRIGENDUM

Please insert the following into the Reasons for Judgment:

At page 25, line 5 replace "justiciae" with "justitiae".

                                                Peter Howard

                                 Associate to Justice Heerey

                                               17 April 1996