15th July 2005

Australian Stock Exchange
Company Announcements Office
10th Floor
20 Bond Street
SYDNEY NSW 2000

Dear Sir

Resignation of Director


The Company wishes to advise that Mr Barry Cahill’s employment as Managing Director ceased with the Company today in accordance with the terms of his service agreement. Barry has further resigned as a Director.

The Board would like to take this opportunity to thank Barry for his valuable contribution to the company and wish him all the best in his future endeavors.

Yours faithfully

Keith Liddell
Chairman
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