RAIDEN RESOURCES LIMITED — Capital/Financing Update 2003

Nov 10, 2003

MEDICAL MONITORS LTD SHAREHOLDER SHARE PURCHASE SCHEME OFFER

PREAMBLE

MEDICAL MONITORS LTD has established a Shareholder Share Purchase Scheme (SSPS) to enable existing shareholders to purchase shares at a discount to the market. The purpose of this scheme is to raise additional working capital for the company whilst allowing existing shareholders to participate at an advantageous rate; and, to give those shareholders with less than a marketable parcel the opportunity to top up their holdings.

ELIGIBILITY

Those Shareholders who are eligible to participate in the SSPS to purchase additional shares are those Shareholders who are:-

• recorded on the register of members at 5pm on the Relevant Record Date for the Offer: and
• who have an address in a jurisdiction in which it is lawful and practical for the Company to issue shares under the Scheme.

CALCULATION OF PURCHASE PRICE

The purchase price of the shares ("Purchase Price") will be 80% of the weighted average market price of the Company's Shares on the Australian Stock Exchange over the last five trading days immediately prior to the date of the Company's announcement of its intention to make the Offer.

The Purchase Price of $0.09 cents was determined at 4pm on 10 November 2003.

RISK

Each Shareholder acknowledges that although the Purchase Price may be at a discount to the weighted average as outlined in the Calculation of the Purchase Price, the shares are a speculative investment and the price of the shares as quoted on the ASX may change between the date of the Offer and the date of issue of the shares received under the Shareholder Share Purchase Scheme. This could mean that on the date of issue the market price or value of shares issued under the SSPS could be less than the price a Shareholder has paid for those shares under the SSPS.

TERMS OF ISSUE OF THE SHARES

The Company offers up to 20 million shares, being 10% of the issued shares as at 1 November 2003.

If applications for shares under the SSPS exceed the maximum number allowable under this plan, the Directors, in their absolute discretion, shall allot the shares on a pro-rata and equal basis to the total number of applicant shares so as not to issue more than the maximum number of shares allowable in the plan.

September 2002

The shares are issued on the following terms:-

• Eligible Shareholders may apply for up to a maximum of five thousand dollars ($5,000) worth of shares:
• Applications from Shareholders will be accepted by the Company on prorata basis in proportion to the number of shares for which each Eligible Shareholder applies so that the total number of shares issued under the Scheme does not exceed the maximum number of shares allowable under the Listing Rules:
• The Company reserves the right to refuse an Application if it considers that the Applicant is not an Eligible Shareholder or has not otherwise complied with the terms of the SSPS or for any other reason;
• If an Application is refused the Application monies will be returned in full; $\bullet$
• Shares for an Application accepted under the SSPS will be issued no later than seven days after the Closing date as stipulated in the Offer;
• Shares issued under the SSPS will be Ordinary Fully Paid shares and will $\bullet$ rank equally in all respects to other fully paid ordinary shares already on issue:
• The Company will apply for quotation by the ASX of the Shares issued under the SSPS:
• . The Scheme will be administered by the Directors who will have an absolute discretion to determine appropriate procedures under the SPPS. to resolve conclusively all questions of fact or interpretation arising in connection with the SSPS and to delegate their powers and discretion under the SSPS:
• The SSPS or any of its terms and conditions may be changed by the Company at any time;
• The SSPS may be suspended by the Company at any time; and
• These terms and conditions are governed and construed in accord with $\bullet$ the laws for the time being in force in the State of New South Wales.

DEFINITIONS

ASX means the Australian Stock Exchange:

Directors mean the directors of Medical Monitors Limited;

Closing Date means the date specified in an Offer or such later date as may be determined by the Directors;

Company means Medical Monitors Limited;

• Eligible Shareholders mean shareholders of the Company eligible to participate in the Offer:
• Market Price has the same meaning as defined in the Listing Rules of the ASX;
• Offer means a non-renounceable offer of ordinary fully paid shares in the Company made to Eligible Shareholders under the SPPS from time to time;
• Purchase Price means the subscription price for each Share determined in accord with the terms and conditions specified in the Offer:

Record Date means the date specified in the Offer made pursuant to the SPPS:

SSPS means the Medical Monitors Limited Shareholder Share Purchase Scheme approved by the Directors from time to time; and

Shares mean ordinary fully paid shares in the Company.