31.12.2002

1 for 5 renounceable rights issue

The directors wish to announce that of the 8,613,870 available rights in the issue, 3,707,441 rights have been taken up by shareholders, with a total of 866 shareholders participating in the issue.

The shortfall of 4,906,429 shares has been taken up the underwriters.

A total of $559,602 has been raised from the issue.



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