Company

News 2007

PLACEMENT OF 9,466,766 ORDINARY FULLY PAID SHARES COMPLIANCE NOTICE

Please be advised the Company has now allotted and issued on the 17th April 2007, 9,466,766 fully paid ordinary shares pursuant to a placement arranged by Euroz Securities Limited. We give notice under sub-section 708A (5)(e) of the Corporations Act ("Act") in respect of the abovementioned 9,466,766 fully paid ordinary shares:

a) The Company issued the shares without disclosure to the investors under Part 6D.2 of the Act;

b) As at the date of this notice, the Company has complied with:
(i) The provisions of Chapter 2M of the Act as they apply to the Company; and
(ii) The continuous disclosure obligations in section 674 of the Act

c) As at the date of this notice there is no information to be disclosed that is excluded information within the meaning of and as required by section 708A (7) and (8) of the Act.

The Company now has on issue, 72,578,540 ordinary fully paid shares.