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INOVIQ LTD Capital/Financing Update 2004

Feb 8, 2004

65112_rns_2004-02-08_759d5e2f-47b8-440f-891d-07bda0772c69.pdf

Capital/Financing Update

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ASX Media Release

9 February 2004

ASX Symbol "EUG"

SA1,500,000 PLACEMENT

The Company is pleased to announce that it has placed 10,000,000 shares each at \$0.15 with clients of Williams De Broe PLC which is a member of the London Stock Exchange.

These funds will be used to fund working capital, the Ukraine transaction announced to the marked on 22 January 2004 and exploration.

PETER GUNZBURG Executive Chairman Eurogold Limited