RAIDEN RESOURCES LIMITED — Capital/Financing Update 2004

Nov 2, 2004

3 November 2004

The Company Announcements Office Australian Stock Exchange Sydney 2000

ASX Release

RE: Line of funding for Medical Monitors Limited

Medical Monitors Limited (ASX: MDM) is pleased to advise that a line of funding has been established, as referred to in Notes to the Appendix 4C Quarterly Report, dated 29 October 2004.

The line of funding is for up to \$1.0 million, on a draw down basis, from a non-bank investment vehicle. The loan is an "arm's length" transaction, with an interest rate tied to the published Westpac Banking Corporation's overdraught rate (currently 8.65% for business accounts) plus 1.5% premium. The terms and conditions are consistent with normal commercial transactions and allow for repayment in full, on or before June 30, 2005, without penalty. No charge has been secured over the Company's assets.

The Company has initiated a first stage payment, with progressive draw down as required, and as noted in the recent budget projection, dated 7 October, 2004. Importantly, this agreement assists the Company in continuing with the successful commercialisation of its technologies and services in the local and overseas markets.

Medical Monitors' unique transtelephonic (telephone transfer) technologies, which allow doctors to remotely monitor the cardiovascular health of their patients, have 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 (02) 9344 8100