GRANGE RESOURCES LIMITED. — Capital/Financing Update 2005

May 19, 2005

STOCK EXCHANGE ANNOUNCEMENT

RANGE

RESOURCES LIMITED

NOTICE UNDER SECTION 708A

20 May 2005

On 17 May 2005, Grange Resources Limited ("Grange") announced the issue of 2,000,000 fully paid ordinary shares, issued on the exercise of options granted by Grange to Bayonet Investments Pty Ltd , a nominee of Mr Adam Rankine-Wilson ("Shares").

The Shares are part of a class of securities quoted on Australian Stock Exchange Limited ("ASX") and may be subject to a subsequent offer for sale.

Notice

Grange gives this notice pursuant to section $708A(5)(e)$ of the Corporations Act.

Grange issued the Shares identified above without disclosure to investors under Part 6D.2 of the Corporations Act.

Grange, as at the date of this notice, has complied with:

• $(a)$ the provisions of Chapter 2M of the Corporations Act; and
• (b) Section 674 of the Corporations Act.

There is no excluded information, as defined in sections 708A(7) and 708A(8) of the Corporations Act, as at the date of this notice.

For more information visit the Grange website at www.grangeresources.com.au, or alternatively contact Alec Pismiris on (+618) 9321 1118.

ALEC PISMIRIS Company Secretary