CULLEN RESOURCES LIMITED — Share Issue/Capital Change 2004

Dec 30, 2004

CULLEN RESOURCES LIMITED

NOTICE UNDER SECTION 708A (6) OF THE CORPORATIONS ACT

On 24 December 2004, Cullen Resources Limited (Company) issued 32,875,000 fully paid ordinary shares by way of a private placement (Issue) that may be subject to a subsequent offer for sale. The Company relies on section 708A(5) of the Corporations Act (Act) in relation to the Issue.

In accordance with section 708A (6) the following information is provided:

• a) this notice is given within 5 business days after the day of the Issue:
• b) the Issue is without disclosure to investors under Part 6D.2 of the Act;
• c) this notice is given under section 708A(5)(e) of the Act;
• d) as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company and section 674 of the Act:
• e) as at the date of this notice, there is no excluded information to be provided in accordance with section 708A(7) and (8) of the Act.