ORCODA LIMITED — Capital/Financing Update 2011

Jun 30, 2011

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SmartTrans Holdings Limited

Level 1, 614 Newcastle Street, Leederville, WA 6007 P O Box 334, Leederville, WA 6903 Telephone (08) 9228 1199 Facsimile (08) 9228 2299 ABN 86 009 065 650

Proposed Issue of Options

Further to the Company's release to ASX earlier today advising of the pending appointment of Dr Geoff Raby to the Board of the Company, SmartTrans advises that, subject to the commencement of Dr Raby’s appointment as a director, shareholder approval and compliance with all other regulatory requirements, the Company has agreed to issue to Dr Geoff Raby (or nominee) 20 million unlisted options in SmartTrans on the following principal terms:

• Exercise price of 1.86 cents per option (based on recent trading prices on the ASX), each exercisable for one share in the Company;

• The options will be exercisable as follows:

  • As to one third within thirty days after the expiration of one year from the date of issue;

  • As to one third within thirty days after the expiration of two years from the date of issue; and

  • As to one third within thirty days after the expiration of three years from the date of issue;

• Exercise of each tranche is conditional upon Dr Raby holding a board seat at the date of exercise.

The Company plans to shortly despatch and release a Notice of General Meeting at which shareholder approval for this issue of options will be sought.

James Laurie

Director

01 July 2011

Beijing Melbourne Sydney P erth 6th Floor, West Tower, Level 7 G.05 Suite 3, Level 1 Prosper Center 11 Queens Road 55 Miller St 614 Newcastle Street 5 Guanghua Road MELBOURNE PYRMONT LEEDERVILLE BEIJING CBD, 100022 VIC 3004 NSW 2009 WA 6007 Ph: +86 (010) 6562 5435 Ph: (03) 9866 7333 Ph: (02) 9660 4564 Ph: (08) 9228 1199