RAIDEN RESOURCES LIMITED — Capital/Financing Update 2004

Mar 30, 2004

ASX News Release

MEDICAL MONITORS LIMITED

31 March 2004

MDM signs with USA Investment Group for USA and European expansion of ECG and Blood Pressure Technologies.

Medical Monitors Limited (ASX:MDM) is pleased to advise that an MOU has been signed with an established USA Investment Group. MDM has granted exclusive licensing rights for the Americas and the European Union (including the UK) for the Company's ECG and Blood Pressure monitoring technologies. An ECG monitoring service will be established in these territories, and will include device promotion and sales.

A new USA sales and service company will be incorporated to effect this licensing agreement, and MDM will retain a major ownership through its share-holding-the agreed value of that asset will be in excess of AUD$13 million (USD$10 million). MDM will receive a royalty fee based on revenues generated, and management fees for the provision of technical services. MDM will be contracted for the manufacture of the ECG recorders and BPfone® monitors to the new company on an agreed profit margin basis.

Contracts are being finalised for the sale of 3,000 BPfone® monitors from existing inventory, which will be used in the previously announced blood pressure monitoring program in the UK. The Directors are confident that current advanced negotiations with the US partner will deliver further significant sales revenue in 2004.

The Directors wish to emphasise that the US venture will not require any further funding commitment from MDM, and will result in significant cost savings. The Company has identified, and is in advanced negotiations with, a highly experienced sales and marketing team in the US that will rapidly advance the monitoring business plan in the second quarter 2004.

The US 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 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.

This agreement reflects the Company's new direction in the next phase of the successful commercialisation of Medical Monitors' technologies and services with a focus on profitability and cost savings.

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.