PRESS DIGEST-Australian General News - Apr 20

Compiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy.

THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com)

--State governments will be asked to commit an estimated A$1 billion a year into telecommunications spending and contribute infrastructure to support the Federal Government's A$43 billion national broadband network. A spokesman for Communications Minister Stephen Conroy confirmed yesterday that the minister will meet with states and territories in the coming weeks to secure early commitments for the fibre-to-the-home network. Pg 1.

--A cricket bat autographed by Australian star Andrew Symonds is at the centre of the latest controversy in the ongoing improper lending practice allegations tabled against the Commonwealth Bank of Australia (CBA.AX) (CBA) by collapsed financial advisor Storm Financial. In an affidavit to be provided to the federal parliamentary inquiry into financial services, it is alleged the cost of mortgage insurance on a loan was waived by a CBA branch in Queensland after a Storm adviser negotiated the autographed cricket bat for a CBA staff member. Page 1.

--Earnings forecasting in the current environment is almost impossible, according to Graham Kraehe, Reserve Bank of Australia director and chairman of logistics provider Brambles (BXB.AX). Speaking on Friday, Mr Kraehe conceded he was shocked with the dramatic change in performance Brambles had experienced since its annual general meeting last November, a period that he had forecast would achieve stable profits. "These circumstances are like nothing I've seen in my working life," Mr Kraehe said on Friday. Page 1.

--Queensland Treasurer Andrew Bligh yesterday confirmed the first Public Private Partnership awarded by the Bligh government since its re-election this year. The Aspire Schools consortium, led by construction and engineering firm Leighton Contractors (LEI.AX), has won the A$1.1 billion contract to build and maintain seven schools in the state's south east. More than two thousand jobs will be created over the four-and-a-half year construction period and 30-year maintenance period, according to the Government. Pg 4.

THE AUSTRALIAN (www.theaustralian.news.com.au)

--Petrol in the bilges of an asylum-seeker boat is the likely cause of the explosion on board the vessel last Thursday that killed five people, according to Senior Federal Government sources. The report is consistent with that provided by Lieutenant Commander Barry Learoyd, the commanding officer of HMAS Albany which had intercepted the vessel. Commander Learoyd stated a "high threat" alert had been relayed back after the smell of petrol vapour was detected by naval personnel who had boarded the asylum-seeker's boat. Page 1.

--The new head of the nation's peak criminal intelligence and investigative agency, the Australian Crime Commission (ACC), has ordered a review of its files and an audit of the use of its authority. Last week John Lawler issued the instruction on the first day in his new job in response to a number of embarrassing incidents that have confronted the agency lately. "The ACC has faced some challenges recently, and I fear these have reduced the confidence levels of our stakeholders," Mr Lawler said. Page 2.