RAIDEN RESOURCES LIMITED — Capital/Financing Update 2004

Dec 13, 2004

Company Update

MEDICAL MONITORS LIMITED

14 December 2004

USA launch of ECG Technology

Medical Monitors Limited (ASX:MDM) is pleased to advise that its cardiac rhythm (ECG) monitoring technology has been successfully launched into the USA market.

Primedical International, the exclusive distributor for MDM's blood pressure and cardiac monitoring technologies into the USA, has informed MDM directors that it is delighted with the first phase launch of the ECG monitoring product, through its subsidiary. iCardia. Inc.

This new USA sales and service company has been established in Chicago to effect the roll out of the ambulatory ECG monitoring product and service, using a unique cardiac rhythm recorder (the suPER) developed specifically by Medical Monitors for the highly lucrative USA market. MDM is contracted for the manufacture of the ECG recorders to Primedical on an agreed profit margin basis. As announced, MDM will retain a major shareholding in Primedical and will receive a royalty fee based on revenues, and management fees for the provision of technical services to Primedical.

Primedical has informed MDM directors that it expects iCardia to deliver significant sales revenue in line with the budgeted targets for FY 2004/2005, and anticipates iCardia's highly experienced sales and marketing team to rapidly advance the ECG monitoring business through 2005.

Despite some minor set-up delays in the Chicago facility, current sales are already in alignment with anticipated sales targets, and Primedical is very pleased with the progress of iCardia as it finds its way into the lucrative US cardiac monitoring market.

The USA market for ambulatory ECG monitoring services is highly profitable and is estimated to be in excess of USD\$150 million per annum, according to Frost and Sullivan (2003). The cardiac monitoring devices market is expected to grow at a rate of 14% per annum over the next 5 years.

Medical Monitors' unique transtelephonic (telephone transfer) technologies have already been granted United States Food and Drug Administration (FDA) notification to enable marketing and sales in the USA.

For further information, please contact Dr Allan Shell on (02) 9344 8100.

Medical Monitors Limit Suite 407 Westfield Eastgarde Eastgardens NSW 20 Tel (02) 9344 8100 Fax (02) 9344 82 Web site: www.medmon.com.