3:00AM New York, 7:00PM Sydney- St George raised its interest rate on variable rate mortgage loans. Centro Retail Trust was obtained a guarantee release. Just receives unsolicited offer.

Market Sentiments

ASX 200 index gained 0.1% or 4.6 to close at 5,355.70.

The Preliminary market turnover was 1.36 billion worth $5.29 billion, with 542 stocks up, 636 stocks down and 308 unchanged. The most traded stock was Junior explorer Admiralty Resources with 57.35 million shares worth $10.6 million.

Market Driver

Australian property trust, Centro Properties Group''s share gained 5.3%, after its Retail Trust was released from a $450 million bond guarantee.

Centro announced the release in a statement today. ""As previously advised to the market on 15 February 2008, Centro Retail Trust identified a guarantee for $450 million provided by a Centro controlled entity to holders of the Centro Properties Group''s US Private Placement Notes.

""The Noteholders agreed to release the guarantee upon the delivery of certain documentation by Centro Properties Group on or before 31 March 2008.

""Centro Properties Group advises that the necessary documentation has been delivered in a timely manner and accordingly the guarantee has been released,"" it said in the statement.

Centro Properties Group, the owner of about 700 U.S. shopping malls recently announced that had started talks with Australian creditors to extend its April 30 debt deadline.

Centro, which has lost 95% of its market value since December, is seeking its second debt extension as it searches for buyers for its assets to refinance $4.9 billion of debt.

Centro Retail''s share rose 9.7%.

Gainers and losers

Of the ASX 200 index stocks, APN/UKA European led the gainers with a rise of 21.3% followed by increases in Just Group Ltd of 12.5%, in Great Southern L of 12.3%, in Centro Retail Group of 9.7% and in AWB Ltd of 9.6%.

Of the ASX 200 index stocks, Challenger Finance led the decliners with a fall of 9% followed by losses in Gwa International Ltd of 6.4%, in Arrow Energy Ltd of 6.1%, in Nexus Energy Ltd of 6% and in Corp Express Aus of 5.7%.

Premier launches bid for Just

Australian billionaire retailer and former Coles Group Ltd Chairman Solomon Lew today launch a $900 million takeover offer for Just Group Ltd through his company Premier Investments Ltd, which has majority shares in Lew''s private company, Century Plaza Investments Pty Ltd.

Premier proposed to pay $2.20 cash and 0.25 Premier Investments share for each Just Group share, which value Just at between $828 million and $898 million. The takeover bid represents an implied premium of 16.9% to 26.8% to the Just Group closing share price of $3.52 on Friday, March 28.

Premier simultaneously bought 1.85 million shares, or 0.9% of Just''s register, in open market trade at $3.50 per share in what appeared to be a single block of stock although Lew told in a briefing today that he did not know who the seller was. He plans to retain Just''s chief executive Jason Murray in the role if Premier''s bid is successful.

Just advised its shareholders to take no action. ""The offer is unsolicited and there have not been any prior discussions between Premier Investments and Just Group on any proposal.