RAIDEN RESOURCES LIMITED — Capital/Financing Update 2004

Jun 30, 2004

MEDICAL MONITORS LIMITED (MDM)

$1st$ July 2004

Deposit Received for USA ECG and Blood Pressure Businesses

Medical Monitors Limited (ASX: MDM) is pleased to advise that it has received a deposit of USD $280,000 (AUD$400,000), for the agreed contract manufacture and supply of monitoring devices for the recently announced Blood Pressure and ECG monitoring businesses in the USA.

MDM retains a significant shareholding of the new Company that has licensed MDM's transtelephonic technology. In addition, MDM will receive annual rovalty fees based on revenues generated from monitoring services and device sales, and management fees for the provision of technical support. No additional funding requirement from MDM will be needed for this business, resulting in an immediate and substantial reduction in operating expenses.

An initial order of USD$ 690,000 (AUD$985,000) was placed for the BPfone® monitors and ECG recorders scheduled for delivery and payment in the third quarter 2004. MDM will be responsible for the manufacture and supply of the ECG recorders and BPfone® monitors at an agreed transfer price, inclusive of a profit margin.

MDM's technologies and business model are superior to the current market offerings, and the directors are confident that the new company will be well placed to take a substantial share of the lucrative monitoring service market. To achieve this, a highly experienced management and sales team has now been contracted, to undertake an aggressive sales and marketing program to roll-out the monitoring program in the USA.

Successful completion of current negotiations in the UK and EU should lead to significant additional sales revenues for MDM in 2004/2005.

MDM's unique transtelephonic (telephone transfer) technologies, which allow doctors to remotely monitor the cardiovascular health of their patients, have already been granted United States Food and Drug Administration (FDA) notification to enable marketing and sales.

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

Medical Monitors Limited Suite 407 Westfield Eastgardens Eastgardens NSW 2036 Tel (02) 9344 8100 Fax (02) 9344 8200 Web site: www.medmon.com.au