EXHIBIT 13.4


                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 6-K

                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON D.C. 20549

                            REPORT OF FOREIGN ISSUER
                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934


For the Quarterly Payment Date on August 15, 2003


                           CRUSADE MANAGEMENT LIMITED,
              as manager of the Crusade Global Trust No. 1 of 1999
             -------------------------------------------------------
             (Exact name of Registrant as specified in its Charter)


             LEVEL 11, 55 MARKET STREET, SYDNEY, NSW 2000, AUSTRALIA
            ---------------------------------------------------------
                    (Address of principal executive offices)


         Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.

                         Form 20-F [X]   Form 40-F [ ]

         Indicate  by check  mark  whether  the  registrant  by  furnishing  the
information contained in this Form is also thereby furnishing the information to
the Commission  pursuant to Rule 12g3-2(b) under the Securities  Exchange Act of
1934.

                               Yes [ ]   No [X]

         If "Yes" is marked,  indicate  below the file  number  assigned  to the
registrant in connection with Rule 12g3-2(b): 82-_____________________________.


<PAGE>


OTHER EVENTS

         On the  Quarterly  Payment Date  falling on August 15, 2003,  Perpetual
Trustees  Consolidated  Limited,  in its capacity as issuer trustee (the "Issuer
Trustee") made a regular quarterly distribution of principal and interest to the
holders of the Class A Mortgage-Backed Floating Rate Notes (the "Notes").

FINANCIAL STATEMENTS AND EXHIBITS

         (c) Exhibits

         See page 4 for Exhibit Index


                                      -2-
<PAGE>

                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf,  as Trust
Manager  for the  Crusade  Global  Trust  No.  1 of  1999,  by the  undersigned,
thereunto duly authorized.



                                          Crusade Management Limited,
                                             as Trust Manager for the
                                             Crusade Global Trust No. 1 of 1999,
                                             (Registrant)



Dated: August 27, 2003                   By:   /S/  RODNEY CLARK
                                             -----------------------------------
                                          Name:   Rodney Clark
                                          Title:  Senior Manager




                                      -3-
<PAGE>

EXHIBIT INDEX


EXHIBIT   DESCRIPTION
-------   ----------------------------------------------------------------------

  99.1    The Noteholders Report for the Quarterly Payment Date on
          August 15, 2003



                                      -4-

<PAGE>


                                                                    EXHIBIT 99.1


                               NOTEHOLDERS REPORT
                        CRUSADE GLOBAL TRUST NO.1 OF 1999
                       COUPON PERIOD ENDING 15 AUGUST 2003

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
NOTES
-----
                                FV OUTSTANDING                                     COUPON         PRINCIPAL      CHARGE OFFS
                                     (USD)        BOND FACTOR    COUPON RATE   PAYMENTS (USD)   PAYMENTS (USD)      (USD)
                                --------------    -----------    -----------   --------------   --------------   -----------
<S>                             <C>              <C>            <C>           <C>              <C>               <C>

Class A1 Notes                            0.00      0.000000%      0.00000%              0.00             0.00         0.00
Class A2 Notes                  146,402,343.03     25.729762%      1.62000%        727,510.89    29,324,925.81         0.00
Class A3 Notes                  125,000,000.00    100.000000%      1.71000%        546,250.00             0.00         0.00
------------------------------------------------------------------------------------------------------------------------------
</TABLE>



                                                                     31 JUL 03
POOL SUMMARY                                                            AUD
------------                                                    ----------------
Outstanding Balance - Variable Rate Housing Loans                   368,287,474
Outstanding Balance - Fixed Rate Loans                               59,054,399
Number of Loans                                                           5,813
Weighted Average Current LVR                                             50.63%
Average Loan Size                                                        73,515
Weighted Average Seasoning                                              74 mths
Weighted Average Term to Maturity                                      215 mths

PRINCIPAL COLLECTIONS                                                   AUD
---------------------                                          -----------------
Scheduled Principal Payments                                       6,030,219.92
Unscheduled Principal Payments                                    44,564,175.16
Redraws                                                            5,339,879.94

Principal Collections                                             45,254,515.14

TOTAL AVAILABLE PRINCIPAL                                               AUD
-------------------------                                      -----------------
Principal Collections                                             45,254,515.14
Principal Charge Offs                                                      0.00
Principal Draw                                                             0.00

Total Available Principal                                         45,254,515.14

Principal Distributed                                             45,254,515.14
Principal Retained                                                         0.00

TOTAL AVAILABLE FUNDS                                                   AUD
---------------------                                         ------------------
Available Income                                                   8,237,247.41
Principal Draw                                                             0.00
Liquidity Draw                                                             0.00

Total Available Funds                                              8,237,247.41

REDRAW & LIQUIDITY FACILITIES                                           AUD
-----------------------------                                -------------------
Redraw Shortfall                                                           0.00
Redraw Carryover Charge Offs                                               0.00

Liquidity Draw                                                             0.00
Liquidity Shortfall                                                        0.00

CPR
----
                                                MAY-03       JUN-03      JUL-03
                              1 mth CPR         29.29%       29.13%      29.99%


ARREARS
-------                        % of pool
                             (by balance)
                             ------------
31 - 59 days                    0.64%
60 - 89 days                    0.28%
90+ days                        0.23%
Defaults                         Nil
Losses                           Nil