ORCODA LIMITED — Capital/Financing Update 2005

Jan 3, 2005

Smort Tans HOLDINGS LIMITED

4 January 2005

Adjusted Timetable for Rights Issue

The Company hereby advises that the 'Proposed date for issue of New Shares and despatch of holding statements" in the Amended Timetable for the Rights Issue has been adjusted from 11 March 2005 to 8 March 2005, as shown below:

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
statements	8 March 2005

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James Laurie For and on behalf of SmartTrans Holdings Limited