QUESTE COMMUNICATIONS LIMITED — Interim / Quarterly Report 2005

Aug 12, 2004

Total No of Pages: 5

Friday, 13 August 2004

Corrected July 2004 Monthly Cash Flow Report

The Company refers to its July 2004 Monthly Cash Flow Report lodged earlier today.

We enclose a corrected July 2004 Monthly Cash Flow Report which includes the full set of Notes on page 4, which was omitted inadvertently from the report lodged earlier today.

For Further Information:

Victor Ho Company Secretary Email: vho@queste.com.au

www.queste.com.au

QUESTE COMMUNICATIONS LIMITED

A.B.N. 58 081 688 164

Level 14, 221 St Georges Terrace, Perth WA 6000 $T$ | + 61 (8) 9214 9777 $F$ | + 61 (8) 9322 1515 July 2004

Name of entity

Queste Communications Ltd

and Controlled Entities

QUESTE COMMUNICATIONS LIMITED and controlled entities

Month EndedACN or ARBN
	081 688 164	31 July 2004
Consolidated statement of cash flows			Company		Consolidated
		Current Month	Year to Date	Current Month	Year to Date
		Jul 2005	1 month	Jul 2005	1 month
		$'000	$°000	$'000	$°000
	Cash flows related to operating activities
1.1	Receipts from customers
1.2	Payments for
	(a) staff costs	(31)	(31)	(45)	(45)
	(b) advertising and marketing
	(c) research and development
	(d) leased assets
	(e) other working capital	18	18	(81)	(81)
1.3	Dividends received	415	415	415	415
1.4	Interest and other items of a similar nature received	1	1	29	29
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Other (provide details if material)
	Net operating cash flows	403	403	318	318

Note:

The Company currently has a 48.817% interest in ASX listed Central Exchange Limited ("CXL").

CXL is a controlled entity of the Company pursuant to Accounting Standard AASB 1024 "Consolidated Accounts."

Therefore, the Consolidated columns in this Monthly Cash Flow Report takes into account the cash flows of the Company and its controlled entities, including CXL.

		Company		Consolidated
				Current Month Current Month Current Month	Year to Date
		Jul 2005	1 month	Jul 2005	1 month
		$'000	$°000	$'000	$'000
1.8	Net operating cash flows (carried forward)	403	403	318	318
	Cash flows related to investing activities
1.9	Payment for acquisition of:
	businesses (item 5)(a)
	(b)equity investments	(469)	(469)	(3,823)	(3,823)
	intellectual property(c)
	physical non-current assets(d)
	other non-current assets(e)
1.10	Proceeds from disposal of:
	(a)businesses (item 5)
	equity investments(b)	46	46	1,219	1,219
	intellectual property(c)
	physical non-current assets(d)
	other non-current assets(e)
1.11	Loans to other entities
1.12	Loans repaid by other entities
1.13	Other (provide details if material)
	Hedging contracts			10	10
	Net investing cash flows	(423)	(423)	(2, 594)	(2, 594)
1.14	Total operating and investing cash flows	(20)	(20)	(2, 276)	(2, 276)
	Cash flows related to financing activities
1.15	Proceeds from issues of shares, options, etc.			8	8
1.16	Proceeds from sale of forfeited shares
1.17	Proceeds from borrowings
1.18	Repayment of borrowings
1.19	Dividends paid			(761)	(761)
1.20	Other (provide details if material)
	Payments in relation to share buy back			(1)	(1)
	Net financing cash flows	$\blacksquare$	ä,	(754)	(754)
	Net increase (decrease) in cash held	(20)	(20)	(3,030)	(3,030)
1.21	Cash at beginning of month/year to date	99	99	18,213	18,213
1.22	Exchange rate adjustments to item 1.20
1.23	Cash at end of month	79	79	15,183	15,183

Queste Communications Ltd (ABN 58 081 688 164) Level 14, The Forrest Centre, 221 St Georges Terrace, Perth, Western Australia 6000 Tel: (08) 9214 9777 Email: info@queste.com.au Fax: (08) 9322 1515

Payments to directors of the entity and associates of the directors Payments to related entities of the entity and associates of the related entities

		Current Month
		Jul 2005
		$000
1.24	Aggregate amount of payments to the parties included in item 1.2	33
1.25	Aggregate amount of loans to the parties included in item 1.11

• 1.26 Explanation necessary for an understanding of the transactions
  • (1) $18,996 Salaries, fees and superannuation paid by the Company to Directors;
  • (2) $14,074 Salaries and superannuation paid by Central Exchange Ltd to its Directors.

Non-cash financing and investing activities

$2.1$ Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows

INone.
--------	--

$2.2$ Details of outlays made by other entities to establish or increase their share in businesses in which the reporting entity has an interest

None.

Financing facilities available

Add notes as necessary for an understanding of the position. (See AASB 1026 paragraph 12.2).

		Amt available	Amount used
		$$^{\circ}000$	$$^{\circ}$ 000
3.1	Loan facilities	$\sim$
3.2	Credit standby arrangements	$\sim$

Disposals

(item $1.10(a)$ )

$\overline{a}$

$\overline{a}$

$\overline{a}$

$\overline{a}$

$\overline{a}$

Reconciliation of cash		Company		Consolidated
Reconciliation of cash at the end of the month (as shown in		Current	Previous	Current	Previous
the consolidated statement of cash flows) to the related		Month	Month	Month	Month
items in the accounts is as follows		$000	$$^{\circ}000$	$$^{\circ}000$	$000
4.1	Cash on hand and at bank	79	99	1,271	1,774
4.2	Deposits at call
4.3	Bank overdraft
4.4	Other (Bank Bills)			13,912	16,439
	Total: cash at end of month (item 1.22)	79	99	15,183	18,213

Acquisitions

(Item $1.9(a)$ )

$\blacksquare$

$\mathbf{r}$

$\overline{a}$

$\blacksquare$

$\overline{a}$

Acquisitions and disposals of business entities

• $5.1$ Name of entity
• $5.2$ Place of incorporation or registration
• $5.3$ Consideration for acquisition or disposal
• 5.4 Total net assets
• 5.5 Nature of business

Compliance statement

• This statement has been prepared under accounting policies which comply with accounting standards as defined in the 1 Corporations Law (except to the extent that information is not required because of note 2) or other standards acceptable to ASX.
• $\overline{2}$ This statement does give a true and fair view of the matters disclosed.

13 August 2004 Date:

Victor Ho Company Secretary

Notes:

The Company also currently has the following listed share investments:

	12-Aug-04
	No Shares	% Interest	Last Closing Price	Value
Shares in Central Exchange Ltd (CXL)	8,303,779	48.22%	$0.58	$4,816,192
Shares in Altera Capital Ltd (AEA)	10.699.428	17.25%	suspended
Shares in Other Listed Securities (liquid	various
investments)			various	$3,039,781
				$7,855,973

On 9 July 2004, the Company received a 60% franked dividend of $415,188.95 from Central Exchange Limited.