ORCODA LIMITED — Capital/Financing Update 2004

Dec 28, 2004

Smort Tans HOLDINGS LIMITED

29 December 2004

Amended Timetable for Rights Issue

The Company hereby advises that the "Closing Date" and the "Proposed date for issue of New Shares and despatch of holding statements" in the Amended Timetable for the Rights Issue have been further amended to the following:

Announcement of Rights Issue	2 November 2004
Original Prospectus lodged with ASIC	2 November 2004
Original Prospectus lodged with ASX	3 November 2003
Application to ASX for official quotation of New Shares	2 November 2004
Record Date to determine Entitlements	11 November 2004
Supplementary Prospectus Lodged with ASIC and ASX	16 November 2004
Despatch of Original Prospectus, Supplementary Prospectus and
Entitlement and Acceptance Form	17 November 2004
Closing Date	28 February 2005
Proposed date for issue of New Shares and despatch of holding	11 March 2005
statements

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James Laurie For and on behalf of SmartTrans Holdings Limited