ARIKA RESOURCES LIMITED — Board/Management Information 2008

Oct 27, 2008

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28 October 2008

ASX Announcement

PLD: Resignation of Managing Director

Portland Orthopaedics Limited ( Company ) (ASX: PLD) advise the resignation of Mr John Brassil, as Managing Director and Chief Executive Officer effective 24 October 2008.

Mr Brassil has cited personal reasons for his resignation. Mr Ralph Stonell, currently CFO of Portland, has been appointed acting CEO.

Mr Brassil will remain available to Portland to advise the company on strategically critical matters during the next three months and to assist with the transition of Ralph Stonell into the acting CEO role. Portland is currently progressing the appointment of an additional non-executive Director.

The Board acknowledges the contribution Mr Brassil has made to improvements in the Company’s operational capability and wishes him the best in his future endeavours.

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John Lee Chairman

For further information please contact:

Ralph Stonell CFO and Acting CEO Portland Limited (02) 9700 1533

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