ICC president Malcolm Speed is excited by the Super Series

Scheduled in October 2005, the series will comprise three one-day internationals and a six-day Test.

Melbourne and Sydney will host with prize money expected to total �928,000.

"The creation of the ICC Super Series will ensure these matches become a major event on the international calendar," said ICC boss Malcolm Speed.

Australia are almost certain to be the highest-ranked Test side when the two teams meet.

Speed added: "Cricket enjoys a tradition of national teams playing Rest of the World sides and these matches have provided terrific cricket.

"Unfortunately, in recent years, the way the calendar has worked it has made it very difficult to play these types of games and they have drifted off the schedule.

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"Cricket is one of few sports that can sustain this format of the game and the prospect of seeing the world's top team taking on the world's best players is a thrilling one."

The last time such a competition visited Australia was in 1971-72 when Garfield Sobers led a side including Bishan Bedi, Zaheer Abbas, Intakhab Alam, Tony Greig, Rohan Kanhai and Clive Lloyd.

The Rest of the World team will be chosen by a special selection panel.

Cricket Australia said it was thrilled to be hosting the series, which would be the first ICC event in the country since the 1992 World Cup.

Chief executive officer James Sutherland said: "It is rare for the world's best cricketers to perform together on the one stage and this should provide a brilliant spectacle for the fans who come along."