Press Release

SIRCA Receives Prestigious BHERT Award for Outstanding Achievement in Collaboration in Education/Training

November 20, 1999 - Senator Nick Minchin, Federal Minister of Industry, Science and Resources, presented SIRCA researchers the prestigious BHERT (Business/Higher Education Round Table) award at the annual BHERT Awards dinner on the 18th of November 1999 at the Hotel Inter-Continental in Sydney. The award was in recognition for work on efficient security market design.

The major sponsor for the BHERT Awards was the AusIndustry Industry Research and Development Board with the individual award sponsored by Shell Australia and P&O Limited.

The BHERT Award highlights the direct impact of SIRCA's research on market efficiency through collaboration with industry partners. It is also a tribute to the range of innovative services and products created by SIRCA that are currently available to its members and to the financial services industry.

The award was granted for Outstanding Achievement in Collaboration in Education and Training in the subcategory of turnover of less than $50m per annum and for a Project/Program more than 3 years in train. The award was open to programs from all fields of research from across the country. Collaborating parties to the award were:

Australian Stock Exchange
Sydney Futures Exchange
Australian Financial Markets Association
Computershare Limited
SIRCA

The winning program centred on SIRCA's process of evaluating the design of securities markets (e.g. regulation, technology, financial instruments, participants) with a view to ensuring that they provide the largest possible supply of cost effective capital to support industry product innovation and development. Since 1994, SIRCA has significantly expanded its research and development contracts along with human capital through the development of its national PhD program.

The BHERT panel of judges granted SIRCA the award based on the following criteria:

Innovativeness
Strength of the relationship between collaborating partners
Outreach inclusion (e.g. overseas - to other groups, companies)
National benefits
Cultural impact on the partner/organisation.

The BHERT Award is further recognition of SIRCA's achievements and its commitment to education and training, and to assist the financial development and integration of regional capital markets.

About SIRCA
SIRCA is a unique financial services research organisation established by twenty-five collaborating Universities to foster research excellence and independence in partnership with industry and government.

For further information, please contact:
Communications Officer, SIRCA Limited
( 612) 9231 5888, media@sirca.org.au