RAIDEN RESOURCES LIMITED — Capital/Financing Update 2004

Feb 25, 2004

Medical Monitors Limited ACN 009 161 522

26 February 2004

Company Announcements Office Australian Stock Exchange Ltd Sydney 2000

Dear Sirs

RE: Recent Private Placement of Shares (ASX:MDM)

The Directors are pleased to announce that a Private Placement of Fully Paid Ordinary Shares under Listing Rule 7.1 has now been completed.

A total of 16,500,000 fully paid ordinary (FPO) shares will be issued, with a total of $825.000 raised at $0.05 per share in the placement.

The funds will be used as working capital to continue executing our strategy of developing businesses in the US and UK for ECG monitoring and blood pressure monitorina.

The Directors believe that the size of the market in both these regions provides Medical Monitors with the opportunity for significant sales of its products and services. The Directors consider that the Company needs only a small percentage of the market share to achieve significant profitability. Medical Monitors' products already have FDA. TGA and CE registration that allow for sales to be made in the relevant markets.

As announced, the FDA registration given to Company's personal ECG recorder, in 2003, has created significant sales and marketing opportunities in the USA.

Medical Monitors Limited is an Australian health service and medical technology company that enables people to simply and effectively monitor specific cardiovascular conditions through unique technology. Medical Monitors is the sole provider of an Australia-wide monitoring service that is attracting strong interest from major healthcare players internationally.

Dr Allan Shell Managing Director