COMET RIDGE LIMITED — Share Issue/Capital Change 2004

Dec 19, 2004

20^th December 2004

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

Dear Sir

Re: Release of Shares and Unlisted Options from Escrow

We wish to advise that the following securities will be released from Escrow as follows:-

Number Manufacturer	Description Advisoring Description	Date of Release
8,208,633	Fully Paid Shares	29 December 2004
155,387	Fully Paid Shares	2 February 2005
1,250,000	Unlisted Options Expiring 1.12.06 at 0.20 cents	15 January 2005

Yours faithfully COMET RIDGE LIMITED

G. Jessely

Gillian Swaby Company Secretary

Comet Ridge Limited ACN 106 092 577

Level 10, International House 26 St George's Terrace,
Perth, Western Australia 6000

Phone: 61892257108 Facsimile: 61 8 9225 4448