RAIDEN RESOURCES LIMITED — Audit Report / Information 2003

Mar 13, 2003

Independent review report to the members of Medical Monitors Limited

Scope

We have reviewed the financial report of Medical Monitors Limited ("the Company") for the half-year ended 31 December 2002 in the form of Appendix 4B of the Australian Stock Exchange Listing Rules, consisting of the statement of financial performance, statement of financial position, statement of cash flows, accompanying notes as set out on pages 1 to 19, and the directors' declaration, but excluding the following sections:

• Comments by Directors (pages 16 to 18) $(a)$
• $(b)$ Compliance statement (page 19)
• $(c)$ ratios (page 8)
• $(d)$ NTA backing (page 9).

The financial report includes the consolidated financial statements of the consolidated entity, comprising the Company and the entities it controlled at the end of the half-year or from time to time during the half-year. The Company's directors are responsible for the financial report.

We have performed an independent review of the financial report in order to state whether, on the basis of procedures described, anything has come to our attention that would indicate that the financial report is not presented fairly in accordance with Accounting Standard AASB 1029 "Interim Financial Reporting" and other mandatory professional reporting requirements in Australia and statutory requirements so as to present a view which is consistent with our understanding of the consolidated entity's financial position and performance as represented by the results of its operations and its cash flows and in order for the Company to lodge the financial report with the Australian Securities and Investments Commission.

Our review has been conducted in accordance with Australian Auditing Standards applicable to review engagements. The review is limited primarily to inquiries of company personnel and analytical procedures applied to the financial data. Our review has not involved a study and evaluation of internal accounting controls, tests of accounting records or tests of responses to inquiries by obtaining corroborative evidence from inspection, observation or confirmation. The procedures do not provide all the evidence that would be required in an audit, thus the level of assurance is less than given in an audit. We have not performed an audit and, accordingly, we do not express an audit opinion.

Statement

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Medical Monitors Limited is not in accordance with:

• the Corporations Act 2001, including: a)
  • giving a true and fair view of the Company's and the consolidated entity's financial i. position as at 31 December 2002 and of its performance for the half-year ended on that date; and

• ii. complying with Australian Accounting Standard AASB 1029 "Interim Financial Reporting" and the Corporations Regulations 2001; and
• other mandatory professional reporting requirements in Australia. $b$

Inherent uncertainty regarding continuation as a going concern

Without qualification to the opinion expressed above, attention is drawn to the following matter. As a result of matters described by the Directors in Additional Note 5(b), there is inherent uncertainty surrounding the ability of the company and the consolidated entity to continue as a going concern and therefore realise their assets and extinguish their liabilities in the normal course of business and at the amounts stated in the financial report.

Should the Company and the consolidated entity be unable to achieve the matters referred to in Additional Note 5(b), the Company and the consolidated entity may not be able to realise the full value of their assets and extinguish their liabilities in the normal course of business and at the amounts stated in the financial report.

$RPA$

KPMG

$\overline{\phantom{1}}$

John Wigglesworth Partner

Place: Sydney

Date: $12$ March 2003