MINDAX LIMITED — Capital/Financing Update 2007

Oct 25, 2007

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9/57 Labouchere Road SOUTH PERTH 6151 Western Australia

Telephone 08 9474 3266 Facsimile 08 9474 3299

ABN 28 106 866 442

26 October 2007

Australian Stock Exchange Limited Company Announcements Platform

COMPLETION OF PLACEMENT

Further to the Company’s Announcement dated 19 October 2007, Mindax Limited is pleased to announce that it has today completed the placement of 3,800,000 ordinary fully paid shares to raise gross proceeds of $494,000. All application funds have been cleared and shares will be issued immediately.

The placement has been made to a number of sophisticated and professional investors of Patersons Securities Limited.

Following please find the requisite section 708A notice.

We confirm the relevant Appendix 3B was lodged on 19 October 2007.

Yours sincerely

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Gregory J Bromley Managing Director

Contact :

Gregory J Bromley Managing Director Mobile : 0418845384

SECTION 708A NOTICE

Name of Issuer: MINDAX LIMITED ABN: 28 106 866 442

The Issuer named above notifies ASX (as the market operator for the Issuer) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act) :

• (a) the securities identified below were issued without disclosure under Part 6D.2 of the Corporations Act; and

• (b) as at the date of this notice:

  • (i) the Issuer has complied with the provisions of Chapter 2M and sections 674 and 675 of the Corporations Act; and

  • (ii) there is no information which is excluded information as contained in sections 708A(7) and 708A(8) of the Corporations Act.

DETAILS OF THE ISSUE OR OFFER OF SECURITIES	DETAILS OF THE ISSUE OR OFFER OF SECURITIES
Class of Securities:	OrdinaryShares
ASXCode of theSecurities:	MDX
Date of Issue:	26 October 2007
Total number of securities issued:	3,800,000 ordinaryfully paid shares

Signed for and on behalf of the Issuer:

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Gregory J. Bromley Date: 26 October 2007