ORA BANDA MINING LTD — Major Shareholding Notification 2002

Dec 3, 2002

MONARCH RESOURCES LIMITED

62 Colin Street West Perth. Western Australia 6005 Telephone: 61-8 9321 3633 Facsimile: 61-8 9321 3644

4 December 2002

The Manager Companies Announcement Office Australian Stock Exchange Limited 4th Floor 20 Bridge Street SYDNEY NSW 2000

BY FACSIMILE: 1300 300 021 $(1$ PAGE)

Dear Sir/Madam

ACQUISITION OF SHARES IN ANZOIL NL

Monarch Resources Limited ("Monarch") advises that it has acquired a relevant interest in 22,000,000 fully paid ordinary shares in the capital of Anzoil NL ("Anzoil").

These shares represent 19.73% of the voting shares in Anzoil.

The acquisition represents a strategic investment in Anzoil, a listed company principally involved in exploration for oil and gas in Australia and overseas.

The acquisition does not alter the primary objective of Monarch set out in its recent prospectus which is to exploit Monarch's tenement portfolio covering 5 project areas within the Lake Johnston Greenstone Belt of Western Australia. Monarch's present focus in this regard has been the development of systematic and cost effective exploration programmes on these project areas.

Yours faithfully

FRANK C Company Secr