CTI LOGISTICS LIMITED — Share Issue/Capital Change 2002

Nov 28, 2002

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Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement. application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002.

Name of entity

CTI Logistics Limited

ABN

008 778 925

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

⁺Class of ^*securities issued or to be $\mathbf{I}$ issued

Ordinary

• $\overline{2}$ Number of "securities issued or to be issued (if known) or maximum number which may be issued
• $\overline{\mathbf{3}}$ Principal terms of the ⁺securities (eg, if options, exercise price and expiry date; if partly paid ⁺securities, the amount outstanding and due dates for payment; if securities. +convertible the conversion price and dates for conversion)

450,000

Fully Paid

• See chapter 19 for defined terms.

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4	Do the securities rank equally in all respects from the date of allotment with an existing class of quoted *securities? If the additional securities do not rank equally, please state: the date from which they do ٠ which they the extent to participate for the next dividend. (in the case of trust. a. distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment	YES
5.	Issue price or consideration	41.59 cents per share
6.	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	EMPLOYEE SHARE PLAN
7	Dates of entering *securities into uncertificated holdings 0T despatch of certificates	28 NOVEMBER 2002
		Number	+ Class
8	+ class of all Number and ASX + securities quoted $\alpha$ (including the securities in clause 2 if applicable)	25,329,931	Ordinary

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Appendix 3B New issue announcement

$\boldsymbol{q}$ Number and ⁺class of all *securities not quoted on ASX (including the securities in clause 2 if applicable)

Number	Class
650,000	Options

10 trust, distribution policy) on the increased capital (interests)

Dividend policy (in the case of a $\boxed{\text{T}}$ o rank pari pasu with existing shares

Part 2 - Bonus issue or pro rata issue

• $11$ security holder approval Is. required?
• 12 Is the issue renounceable or nonrenounceable?
• Ratio in which the ⁺securities will 13 be offered
• ⁺Class of ⁺securities to which the 14 offer relates
• *Record date determine 15 $\mathbf{t}$ entitlements
• Will holdings on different registers -16 (or subregisters) be aggregated for calculating entitlements?
• $17$ Policy for deciding entitlements in relation to fractions
• 18 Names of countries in which the entity has "security holders who will not be sent new issue documents

Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7.

19 Closing date for receipt of acceptances or renunciations

• See chapter 19 for defined terms.

29.NOV.2002 $6:42$ ASX PERTH

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Appendix 3B

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New issue announcement

20	Names of any underwriters
21	Amount of any underwriting fee or commission
22	Names of any brokers to the issue
23	Fee or commission payable to the broker to the issue
24	Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of + security holders
25	If the issue is contingent $_{\text{on}}$ "security holders' approval, the date of the meeting
26	Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled
27	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
28	Date rights trading will begin (if applicable)
29	Date rights trading will end (if applicable)
30	How do "security holders sell their entitlements in full through a broker?
31	How do "security holders sell part of their entitlements through a broker and accept for the balance?

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Appendix 3B New issue announcement

How do *security holders dispose of 32 their entitlements (except by sale through a broker)?

33 *Despatch date

Part 3 - Ouotation of securities

Tou need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• Securities described in Part 1 $\left( a\right)$ X
• $(b)$

All other securities

Example: restricted securities at the end of the eserowed period, partly paid securities that become fully paid, employee incentrye share securities when metrician ends, securities issued on expay or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

(If the additional securities do not form a new class, go to 43)

Tick to indicate you are providing the information or documents

• 35
• If the 'securities are 'equity securities, the names of the 20 largest holders of the additional ⁺securities, and the number and percentage of additional ⁺securities held by those holders
• If the 'securities are 'equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ 5,001 - 10,000
• 10,001 100,000 100,001 and over
• 37

A copy of any trust deed for the additional +securities

(now go to $43$ )

⁺ See chapter 19 for defined terms.

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Appendix 3B New issue announcement

Entities that have ticked box 34(b)

38		Number of securities for which
	*quotation is sought

• 39 Class of ⁺securities for which quotation is sought
• 40 Do the *securities rank equally in all respects from the date of allotment with an existing 'class of quoted +securities?

If the additional securities do not rank equally, please state;

• the date from which they do
• · the extent to which they participate for the next dividend. (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
• 41 Reason for request for quotation now

Example: In the case of restricted ecourities, ead of restriction period

(if issued upon conversion of another security, clearly identify that other security)

42 Number and ⁺class of all ⁺securities quoted on ASX (including the securities in clause 38)

Number	+ Class

(now go to $43$ )

29.NOV.2002 $6:42$ ASX PERTH NO. 454 P.7/8

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Appendix 3B New issue announcement

All entities

Fees

$4²$ Payment method (tick one)

Cheque attached
-----------------	--

Electronic payment made Note: Psymons may be made electronically if Appendix 3B is given to ASX electronically at the same time.

Periodic payment as agreed with the home branch has been arranged

Note: Arrangements can be made for employee incentive schemes that involve frequent issues of securities,

Quotation agreement

• ⁺Quotation of our additional ⁺securities is in ASX's absolute discretion. ASX may $\mathbf{1}$ quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the *securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the ⁺securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be oble to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any "securities to be quoted and that no-one has any right to return any 'securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the "securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the 'securities be quoted.

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Appendix 3B New issue announcement

• $\overline{\mathbf{3}}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any $\overline{4}$ information or document not available now, will give it to ASX before 'quotation of the 'securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Date: $\frac{28}{11}$ / 02

Sign here:

(Director/Company secretary)

Print name:

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David Mellor...................................