PRINCEVILLE &lt;PVDC> GETS LETTER OF CREDIT

  &lt;Qintex Ltd> of Brisbane said &lt;Westpac
  Banking Corp> of Australia has issued a commitment letter to
  provide Princeville Development Corp with the letter of credit
  required under Qintex's proposed acquisition of Princeville.
      The letter of credit would ensure payment of Princeville's
  contingent subordinated notes to be distributed to shareholders
  of record on the day immediately following completion of
  Qintex's tender for 3,300,000 Princeville share. It said
  issuance of the letter of credit is still subject to conditions
  including appropriate documentation, but the letter is expected
  to be issued around April Three.
      Qintex said as a result it has extended its tender offer
  for Princeville shares until April Three.
      It said through yesterday it had received 7,424,292 shares
  under the offer.
  

