GRANGE RESOURCES LIMITED. — Capital/Financing Update 2003

Jun 11, 2003

GRANGE RESOURCES LIMITED A.C.N. 009 132 405

STOCK EXCHANGE ANNOUNCEMENT

REDEMPTION AND CANCELLATION OF

CONVERTIBLE REDEEMABLE PREFERENCE SHARES

12 June 2003

Grange Resources Limited ("Grange" or 'the Company") advises that further to its announcement on 29 May 2003 regarding the redemption of 46,339,663 convertible redeemable preference shares ("Preference Shares"), the Company has today dispatched bank cheques to all holders of Preference Shares.

In accordance with the terms of the Preference Shares set out in Article 2A6 of the Company's Constitution, the payment of the Redemption Amount to each holder of Preference Shares constitutes the redemption and cancellation of the Preference Shares.

Attached is a Notice of Share Cancellation confirming the redemption and cancellation of the Preference Shares.

For further information in relation to this announcement or the Company, visit the Grange Resources Limited website at www.grangeresources.com.au or alternatively contact Mr Alec Pismiris on (+618) 9321 1118.

ALEC PISMIRIS Company Secretary

S:VAA - Entergosses@inapge%compliance>ASXvASX Antooneements99988 dee

ASIC registered agent number				224 2009.0 M	23 nay 2001
lodging party or agent name
office, least, bolding asons or (9) This set.
street repriser & name
subargingsy telephone		state/am/liny (A	postavieš
	facsionis				ŵ3 ) 816-A
OX AURORY		pilang Giy			856 $\frac{1}{120}$
	Australian Securities & Investments Commission
				tocn 284
	Notification of share cancellation
				Corporations Nrs 2001	254Y, 254J, 256A - 256E, 257H(3), 258D,
				25联络长钩
Company name	GRANGE	SOURCES LINITED
	怒裂
	Shares cancelled under which provision
(sick for applicaties)	ജ്യം	Redeematike preference shares.	Adeemed out af profits
			${\mathbb M}$ recisemed can of proceeds of a fresh issue of shares.
	J s.gaa.s.gaa I sa 2676430	Capital reduction Studes a company has bought back
	J s zásta	furthenoi shares
	$56.258E(2)$ & $\langle 5 \rangle$	Shares renamed to a company.	-- ├─ } under secolon 8610, 724(2), 737, or 738
			$\overline{3}$ under section $1325$ A (coort order)
	codent, give section eat. [117] __	(description)
	Number of Shares	Class of Shares	Consideration Paid (total)
	Ч٤ もっしぃ	くいいびをごほび	G. 41 3	- 41)
		Répunkti
		SHARE.
	Dase of registration of careelfation $\ f\ _2^2 \geq \zeta_2^2 + 2\zeta_2^2\zeta_2^2$ or parison of cancellation from	Ŧ.	÷ 10
					SavaR Business fiest than 20 employees),
				to conspling this form	please provide on estimate of the time takes
				Include	The time actually spent reading the
Details of shares cancelled Signature					instructions, working on the question
		Ficertify that the information on side form is tose and compo.			and obtaining the information The time space by all employees in
priet name	最后部宏成			information.	collecting and providing this.
sign here		espacity SEXIE 7 AP $m(2)$ $6 - 7203$		hrs.	mins

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