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Domino's Pizza Australia closing in on float

April 5, 2005

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Financial Review (Australia): The prospectus for the $132 million (U.S. $101.2 million) float of Domino's Pizza Australia-New Zealand is expected to be lodged with Australia's corporate regulator around April 13.

Of the $75 million (U.S. $57.6 million) in capital to be raised via the issue of 34.1 million shares at $2 (U.S. $1.52) each, $50 million (U.S. $38.4 million) will go to vendor shareholders, primarily the family trust of "Hungry Jack" Cowin, former Domino's franchisee and non-executive director Grant Bourke, and former franchisee turned managing director Don Meij.

This will be done by way of a $14 million selective capital reduction and the sale of shares worth $35 million by vendors who will retain about 40 percent of the business.

Domino's is floating on a relatively full multiple of 16 times 2005 forecast earnings, falling to 12 times in 2006.

Currently there are approximately 330 Domino's units in Australia and New Zealand.

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