NEURIZER LTD — Capital/Financing Update 2011

Apr 10, 2011

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11 April 2011

Manager, Announcements Australian Securities Exchange

E - lodgement: ASX on-line

Marathon Resources Ltd – ASX Code MTN - Notice under listing rule 3.11.2

Marathon Resources Limited advises the following changes in the exercise price of existing options after the issue of shares following its recent non renounceable rights issue.

Number ofOptions	Nature of Options	Old Price	New Price
3,000,0001,000,0001,000,000490,00050,000[2,000,000500,000750,000750,000	unlisted options expiring 30/6/2011unlisted options expiring 02/09/2012unlisted options expiring 28/12/2014unlisted options expiring 15/10/2013unlisted options expiring 15/10/2013unlisted options to acquire ordinary shares in 3 tranches]exercisable between 01/11/2012 and 01/11/2013exercisable between 01/11/2013 and 01/11/2014exercisable between 01/11/2014 and 01/11/2015	$1.037$0.80$1.10$0.34$0.75$0.876$1.25$1.75	$1.014$0.777$1.077$0.317$0.727$0.853$1.227$1.727

The changes arise in accordance with the option terms, reflecting the formula in Listing Rule 6.22.2, with the revised exercise price based on the formula:-

A = O - E[P-(S+D)] (N+1)

Where:

A=	New Exercise Price
O=	Old exercise price
E=	Number of underlying ordinary shares into which one option is exercisable	1
P=	Average closing sale price per share (weighted for volume) during the 5 trading days	$0.752
	before ex entitlement date.
S=	Subscription price under the pro rata issue	$0.50
D=	Dividend due	Nil
N=	Number of securities with entitlements that must be held to receive one right.	10

Marathon’s share registrar will issue revised certificates to option holders reflecting the reduction in exercise price.

S M Appleyard

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Company Secretary

g:\marathon\rights issues feb 2011\option price variation post nrri.doc