KINGSTON RESOURCES LIMITED — Capital/Financing Update 2003

Sep 8, 2003

ABN 44 009 148 529

Registered Office

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

Mail 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

Company Announcements Office

Electronic Lodgement System

09 September 2003

Dear Sir / Madam

CAPITAL RAISING

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

The Company is pleased to announce that as foreshadowed in its Fourth Quarter Activities Report released to ASX on 31 July 2003, it has successfully completed the off market sale of 58,809,524 of its fully paid ordinary shares at a price of 0.7 cents per share to raise \$411,666.67 and has entered into a binding contract for the off market sale of a further 7,857,143 of its fully paid ordinary shares at the same price to raise a further \$55,000.

The capital raising provides the Company with additional working capital to enable it to exploit opportunities for the deployment of its products to a range of customers as the Company continues its progress towards a cash flow neutral and profitable position.

The total fully paid ordinary shares in question represent all of the 66,666,667 shares recovered by the Company from Messrs Floate and Mann, former directors of the Company's wholly owned subsidiary Synergy Business Solutions Australia Pty Ltd ("SYNERGY Australia"), (formerly MTIC Corporate Pty Ltd). The sale / transfer of the shares represents the successful culmination of the actions taken by the current Board against the former SYNERGY Australia directors to recoup value for the Company's shareholders.

Yours faithfully SYNERGY EQUITIES GROUP LIMITED

Ronald Moir MANAGING DIRECTOR

SYNERGY EQUITIES GROUP LIMITED

ELS009.2004