KINGSTON RESOURCES LIMITED — Capital/Financing Update 2003

Dec 7, 2003

ABN 44 009 148 529

Registered Office

Level 1 Westcentre 1260 Hav Street West Perth Western Australia 6005 AUSTRALIA

Mailing Address Private Box 1288 West Perth Western Australia 6872 AUSTRALIA

Telephone Facsimile Email Visit us at

$(+618)$ 9415 2212 $(+618)$ 9415 2221 info@synergylimited.com.au www.synergylimited.com.au

Australian Stock Exchange Limited

SYNERGY
EQUITIES GROUP LIMITED

Company Announcements Office

Electronic Lodgement System

08 December 2003

Dear Sir / Madam

SHARE PURCHASE PLAN ("the Offer") CLOSES - OVERSUBSCRIBED BY APPROX. 160%

SYNERGY EQUITIES GROUP LIMITED ("SYNERGY" or "the Company")

The Company is pleased to announce that the Offer of shares to existing Shareholders of the Company, the terms of which were approved by SYNERGY Shareholders at the Annual General Meeting held on Friday, 28 November 2003, has now closed. The issue of shares approved by SYNERGY Shareholders was for 50 million shares. The Company has received applications for approximately 260% of the approved issue.

The Company will be processing applications and will make a further announcement as soon as possible as to the extent of allocations for each Applicant Shareholder and as to the plans to call an Extraordinary General Meeting to seek further Shareholder approval in relation to the oversubscription.

Any queries should be directed to the writer on:

Telephone:	$(+618)$ 9415 2212
Facsimile:	$(+618)$ 9415 2221
Email:	rmoir@synergylimited.com.au

Yours faithfully SYNERGY EQUITIES GROUP LIMITED

Ronald Moir MANAGING DIRECTOR

ELS031.2004