ORCODA LIMITED — Share Issue/Capital Change 2005

Mar 20, 2005

Sm@rtTrans

21 March 2005

FOR IMMEDIATE RELEASE

Please be advised that, following the company's recent 1 for 1 non-renounceable Rights Issue, SmartTrans Holdings Limited (SMA) is going to issue 190,957,302 ordinary shares as follows:

	Ordinary Shares
Number of shared accepted by shareholders	107.877.468
Shortfall shares to be taken up by underwriter	83.097.834
TOTAL	190.957.302

As a result, the total issued capital of the company will be 381,914,604 Ordinary Shares

In addition, the company will allot 190,957,302 unlisted options that are exercisable at 1.1 cents until 21 March 2006.

The date for issue of new shares and despatch of holding statements is 21 March 2005.

A listing of the Top 20 Shareholders of the Company in relation to the Rights Issue is attached.

For further information please contact

James Laurie Director SmartTrans Holdings Limited 08 9228 1199

HOLDER NO	CLASS GROUP: *G1/ORDINARY SHARES NAME AND ADDRESS	UNITS	ੇ 1/C	RANK
	DYMOCKS PTY LIMITED	51,825,142	17.34	-1
	JAMAJON PTY LTD	31, 147, 472 10.42		-2
	TANDRAGEE PTY LIMITED	25,697,734 8.60		-3
	COOLGARDIE UNITS PTY LTD	18,884,196	6.32	4
	ANZ NOMINEES LIMITED	8,888,277 2.97		.5.
	ANDREW DYMOCK FORSYTH	8,814,264 2.95		6
	TEMPLEVALE PTY LIMITED	5,100,000 1.71		- 7
	NEFCO NOMINEES PTY LTD	$4, 273, 588$ 1.43		- 8
	ISATSAN PTY LTD	$3,944,352$ 1.32		- 9
	KANASLEX PTY LIMITED	3,200,000 1.07		20
	LOXDEN PTY LTD	3,000,000 1.00		11
	CITICORP NOMENEES PTY LIMITED	2,187,142 0.73		12
	AUSTRALIAN CONSOLIDATED EXPLORATION PTY LTD	2,000,000 0.67		13
	KANASLEX PTY LIMITED	2,000,000 0.67 - - - - - - - - - - - - - - - - - - -		14
	BILBOA NOMINEES PTY LTD	1,972,494 0.66		15
	MR DAVID EDWARD BROWN	1,920,000	0.64	16
	CALWAY PRODUCTS (AUSTRALIA) PTY LIMITED	1,900,000	$0.64 -$	17
	MR JOHN SELWYN YOUNG & MRS MARLENE DAWN YOUNG	1,887,008 0.63		18
	ROKADIA PTY LIMITED	1,875,385 0.63		19
	CAREW CORPORATION	1,685,282	0.56	20
	*** REPORT TOTAL REMAINDER ***	182, 202, 336 60.97 116,632,434 39.03 ---------------------------------------
	*** GRAND TOTAL ***	298,834,770 100.00 -----------------------

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TOTAL CURRENT HOLDERS MEETING CRITERIA FOR THIS REPORT: 2723