ABA ENDORSES ALLEN REPORT Sydney, 19 May, 2000: The Council of the Australian Bankers' Association (ABA) has unanimously welcomed and endorsed the report on the industry association conducted by Mr Geoff Allen, Chairman of The Allen Consulting Group. The Chairman of the ABA, Frank Cicutto, said the review confirmed the need for a strong, broadly-based industry association to the benefit of its members and Australia. All ABA members will soon be invited to a forum, which will discuss the report's recommendations and agree on the strategic direction and implementation issues challenging the industry. "The report's recommendations will enhance the ABA by providing thoughtful suggestions on how the industry association will achieve its objectives. The recommendations are wide ranging, and have been agreed in principle by the ABA Council, " Mr Cicutto said. Mr Cicutto said the report stressed both the importance of working cooperatively as an industry and building closer relationships with the broader community. "The industry needs to listen more closely to its customers and to those who represent them, " said Mr Cicutto. "Australians benefit from our secure, innovative and globally competitive banking and financial services sector. However, there is scope to improve our responsiveness to community concerns, in a unified and consistent manner, " he said. For further information contact: Heather Wellard ABA PR Phone: 02 8298 0411 Mobile: 0409 830 439     ENDS May 19, 2000, 06/00