HANSEN TECHNOLOGIES LIMITED — Capital/Financing Update 2003

May 5, 2003

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 17796. Origin: Appendix 5. Amended 17798, 17999, 171/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Hansen Technologies Limited

ABN

90 090 996 455

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).

$\mathbf{1}$ ⁺Class of ⁺securities issued or to be $\lceil$ issued

Fully paid, ordinary shares

• Number of ⁺securities issued or to $\overline{2}$ be issued (if known) or maximum number which may be issued
• $\mathfrak{Z}$ 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)

18,599,770

Shares will rank pari passu

⁺ See chapter 19 for defined terms.

$\varDelta$ Do the *securities rank equally in all Yes 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 $\overline{S}$ Issue price or consideration $$0.18$ Purpose of the issue Non-Renounceable Rights Issue of 3 New 6 (If issued as consideration for the Ordinary Shares for every 10 ordinary shares acquisition of assets, clearly identify held at the Record Date. those assets) The net proceeds from this Issue will be used to: strengthen the Company's statement of $\bullet$ financial position; supplement the Company's working capital $\bullet$ reserves in order for it to maximise the potential of its existing business divisions; and $\bullet$ take advantage of any new opportunities for expansion or growth in the future. $\tau$ Dates of entering ⁺securities into 5 May 2003 uncertificated holdings or despatch of certificates Number Class $\overline{8}$ Number and *class of all 111.074.739 Fully paid, Ordinary quoted on ASX *securities Shares (including the securities in clause 2 if applicable)

⁺ See chapter 19 for defined terms.

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

Number	+ Class
18,599,770	Fully paid, Ordinary
	Shares
See attachment A for
Employee Options

$10$ Dividend policy (in the case of a $\lceil$ trust, distribution policy) on the increased capital (interests)

Shares will rank pari passu

Part 2 - Bonus issue or pro rata issue

11	holder security Is approval required?	N 0
$12 \,$	Is the issue renounceable or non- renounceable?	Non-renounceable
13	Ratio in which the "securities will be offered	3 New Ordinary Shares for every 10 ordinary shares
14	Class of securities to which the offer relates	Ordinary
15	*Record determine date to. entitlements	28 March 2003
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?	N 0
17.	Policy for deciding entitlements in relation to fractions	Fractional Entitlements will be rounded up to the nearest whole number of shares.
18	Names of countries in which the entity has *security holders who will not Ъe sent issue new documents	None
	Note: Security holders must be told how their entitlements are to be dealt with.
	Cross reference: rule 7.7.
19	Closing date of I for receipt acceptances or renunciations	23 April 2003

$+$ See chapter 19 for defined terms.

Appendix 3B New issue announcement

20	Names of any underwriters	N/A
21	Amount of any underwriting fee or	N/A
	commission
22	Names of any brokers to the issue	N/A
23.	Fee or commission payable to the	N/A
	broker to the issue
24	Amount of any handling fee	N/A
	payable to brokers who lodge acceptances or renunciations $-$ Off
	behalf of *security holders
25	If the issue is contingent on	N/A
	"security holders" approval, the
	date of the meeting
26	Date entitlement and acceptance	2 April 2003
	form and prospectus or Product Disclosure Statement will be sent to
	persons entitled
27	If the entity has issued options, and	N/A
	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)	N/A
29	Date rights trading will end (if applicable)	N/A
30	How do *security holders sell their	N/A
	entitlements in full through - a broker?
31	How do *security holders sell part of their entitlements through a	N/A
	broker and accept for the balance?

$+$ See chapter 19 for defined terms.

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

33 *Despatch date $N/A$

6 May 2003

Part 3 - Ouotation of securities

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

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

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

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

36 If the *securities are *equity securities, a distribution schedule of the additional *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

⁺ See chapter 19 for defined terms.

Entities that have ticked box 34(b)

38.	Number of securities for which *quotation is sought	N/A
39.	Class of "securities for which quotation is sought	N/A
40	Do the securities rank equally in all respects from the date of allotment with an existing class of quoted *securities?	N/A
	If the additional securities do not rank equally, please state: the date from which they do ۰ the extent which to. they participate for the next dividend, the case (in оf 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	N/A
	Example: In the case of restricted securities, end of restriction period
	issued upon conversion (if - οf another security, clearly identify that other security)
		Number	*Class
42.	Number and + class of all +securities quoted on ASX (including the securities in clause 38)	N/A

$+$ See chapter 19 for defined terms.

Ouotation 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 able 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.

⁺ See chapter 19 for defined terms.

• 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.
• $\overline{4}$ We give ASX the information and documents required by this form. If any 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.

Sign here:

$V^{\nu}$ Date: 6^th May 2003 (Director/Company secretary)

Print name:

Marie Turner

$= 10$

⁺ See chapter 19 for defined terms.

ATTACHMENT A

OPTIONS ISSUED UNDER THE EMPLOYEE OPTION PLAN NOT QUOTED ON

ASX

Number of Options	Expiry Date	Exercise Price
1,760,000	26/05/05	\$1.00
200,000	07/08/05	\$1.40
50,000	25/12/05	\$1.90
820,000	01/07/06	\$1.50
15,000	01/01/07	\$1.20

ATTACHMENT B

Top Twenty Shareholders

	Investor Name	Total Units	% Held
$\ddagger$	OTHONNA PTY LTD	63,757,899	57.40%
2	PERMANENT TRUSTEE AUSTRALIA	17,835,625	16.06%
3	ANDREW ALEXANDER HANSEN	9,893,543	8.91%
4	MR ANTHONY DAVID HANSEN	800,000	0.72%
5	MR KENNETH ALBERT HANSEN	398,125	0.36%
6	MRS YVONNE IRENE HANSEN	353,710	0.32%
17	MS TANYA JACINTA HANSEN	325,000	0.29%
8	MRS SUZANNE MAY TOMLINSON	265,418	0.24%
ļ9	MILFLY INVESTMENTS PTY LTD	218,300	0.20%
10	SEELEY SOLUTIONS PTY LIMITED	212,314	0.19%
11	NICHOLAS JOHN HANSEN	205,797	0.19%
12	UILANDALE PTY LTD	200,000	0.18%
13	MR REGINALD LIONEL KERMODE	200,000	0.18%
14	DW GLESSON & CO PTY LTD	189,500	0.17%
15	BOND STREET CUSTODIANS LIMITED	159,296	0.14%
16	UORDANDANIEL PTY LTD	158,261	0.14%
17	DAVID STICKELS & ASSOC PTY LTD	150,000	0.14%
18	MR MICHAEL HOHOS	142,350	0.13%
19	ANZ NOMINEES LIMITED	135,460	0.12%
20	MRS MICHELLE LOUISE SHARP	133,813	0.12%
	Total of the 20 largest holders	95,734,411	86.19%