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LAKE RESOURCES N.L. M&A Activity 2004

Feb 4, 2004

65240_rns_2004-02-04_62f6be4b-1a18-417a-85ed-780356224abc.pdf

M&A Activity

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5 February 2004

Company Announcements Office Australian Stock Exchange Limited 4th Floor, 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam.

BIDDER'S STATEMENT AND OFFER BY: LAKE RESOURCES N.L. ABN 49 079 471 980 TO PURCHASE ALL OF YOUR SHARES IN: DIAMONEX LIMITED ABN 26 091 951 978 DATED 24 DECEMBER, 2003 and SUPPLEMENTARY BIDDER'S STATEMENT AND OFFER BY: LAKE RESOURCES N.L. ABN 49 079 471 980 TO PURCHASE ALL OF YOUR SHARES IN: DIAMONEX LIMITED ABN 26 091 951 978 DATED 9 JANUARY, 2004

VARIATION OF CONDITIONS

Please be advised that Lake Resources N.L. that at the close of business on 3rd February 2004. Lake Resources N.L. was entitled to 14.07 per cent of the issued ordinary shares in DiamonEx Limited.

Lake Resources N.L. wishes to advise that the Offer is now free of all conditions as listed in Clause 8 of the Offer.

The directors of Lake Resources N.L. have, under a unanimous resolution passed by all of the directors of Lake Resources N.L., approved this advice.

A copy of this notice was lodged with ASIC on the 5th day of February 2004.

ASIC takes no responsibility for the contents of this notice.

Yours sincerely, LAKE RESOURCES NL

P.J. Gilchrist Diector/Secretary