BUSINESS IN ASIA TODAY - JULY 2, 2007.

Business in Asia on July 2, 2007. A summary prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:

WESFARMERS LAUNCHES $US18.8 BLN OFFER FOR COLES

SYDNEY - Wesfarmers Group Ltd (ASX:WES) has made a A$22 billion (US$18.8 billion) cash and share offer for Australia's second biggest retailer, Coles Group Ltd (ASX:CGJ). The offer is to be carried out by scheme of arrangement and has the recommendation of the Coles board. The consideration for each Coles share is A$4.00 in cash, and 0.2843 Wesfarmers shares for each Coles share. Coles shareholders will also be entitled to a final dividend of 25 cents. Wesfarmers said the offer valued each Coles share at A$17.25 a share, inclusive of the final dividend.

BOEING SIGNS US$500 MLN IN CONTRACTS WITH CHINESE SUPPLIERS

BEIJING - U.S. aviation giant Boeing has announced agreements with Chinese suppliers for the production of commercial aircraft parts and components, including the first firm contracts with Chinese suppliers to build parts for the Boeing 747-8 Intercontinental Passenger and Freighter aircraft. The contracts are valued at an estimated US$500 million and include the 747-8 inboard wing flaps with Xi'an Aircraft Industry (Group) Company Ltd. (XAC), and ailerons and spoilers with Chengdu Aircraft Industrial (Group) Co. Ltd. (CAC), both affiliated to China Aviation Industry Corporation I (AVIC I). Also signed were contracts for composite parts to be built by Hafei Aviation Industry Co., Ltd., an AVIC II-affiliated company, and composite panels for the vertical fin to be built by BHA Aero Composites Co., Ltd., an equity joint venture between Boeing, Hexcel Corp. and AVIC I.

ANZ ACQUIRES COMMUNITY BANK IN GUAM

MELBOURNE - The ANZ Banking Group Ltd (ASX:ANZ) has extended its footprint in the Pacific with the acquisition of a small but strategic community bank in Guam for an undisclosed amount. The Citizens Security Bank is a community bank with four branches in Guam and assets of US$139 million. The Guam deal, which has been approved by shareholders and US regulators, adds to the ANZ's existing Pacific assets in American Samoa, Tonga and Fiji. It also has assets in the Cook Islands, Kiribati, New Caledonia, Papua New Guinea, the Solomon Islands, East Timor and Vanuatu.