RAIDEN RESOURCES LIMITED — Interim / Quarterly Report 2002

Mar 13, 2003

Appendix 4B

Half yearly/preliminary final report

Introduced 30/6/2002.

Name of entity
MEDICAL MONITORS LIMITED
ABN or equivalent companyHalf yearlyPreliminaryreferencefinal (tick)(iick)		Half year/financial year ended ('current period')
68 009 161 522	31 DECEMBER 2002
For announcement to the marketExtracts from this report for announcement to the market (see note 1).		ŜΑ
Revenues from ordinary activities (item 1.1)	62%up	431,772$\mathbf{t}$
Profit (loss) from ordinary activities after tax attributable tomembers (item 1.22)	29%down	(1, 596, 755)$\mathbf{t}$
Profit (loss) from extraordinary items after tax attributableto members ( item 2.5( d ))	gain (loss)of
Net profit (loss) for the period attributable to members(item 1.11)	29%down	(1, 596, 755)tσ
Dividends (distributions)	Amount per security	Franked amount persecurity
Final dividend (Preliminary final report only - item 15.4)Interim dividend (Half yearly report only - item 15.6)	$N/A \notin$	$N/A \notin$
Previous corresponding period (Preliminary final report-item 15.5; half yearly report $-$ item 15.7)	$N/A$ ¢	$N/A$ ¢
N/A+ Record date for determining entitlements to thedividend,(in the case of a trust, distribution) (see item $15.2$ )
Brief explanation of any of the figures reported above (see Note 1) and short details of any bonus or cashissue or other item(s) of importance not previously released to the market:

If this is a half yearly report it is to be read in conjunction with the most recent annual financial report.

Rules 4.1, 4.3

+ See chapter 19 for defined terms.

		Current period - $A +	Previous corresponding
			period - $A
1.1	Revenues from ordinary activities (see items 1.23)$-1.25$ )	431,772	264,530
1.2	Expenses from ordinary activities (see items 1.26& 1.27)	1,995,353	2,493,656
1.3	Borrowing costs	33,174	13,470
1.4	Share of net profits (losses) of associates and jointventure entities (see item 16.7)
1.5	Profit (loss) from ordinary activities before tax	(1,596,755)	(2,242,596)
1.6	Income tax on ordinary activities (see note 4)
1.7	Profit (loss) from ordinary activities after tax	(1,596,755)	(2,242,596)
1.8	Profit (loss) from extraordinary items after tax(see item $2.5$ )
1.9	Net profit (loss)	(1,596,755)	(2,242,596)
1.10	Net profit (loss) attributable to outside $\dot{\tau}$ equityinterests
1.11	Net profit (loss) for the period attributable tomembers	(1,596,755)	(2,242,596)
	Non-owner transaction changes in equity
1.12	Increase (decrease) in revaluation reserves
1.13	Net exchange differences recognised in equity
1.14	Other revenue, expense and initial adjustments
	recognised directly in equity (attach details)Initialadjustmentsfrom UIGtransitional
1.15	provisions
1.16	Total transactions and adjustments recogniseddirectly in equity (items $1.12$ to $1.15$ )
1.17	Total changes in equity not resulting from	(1, 596, 755)	(2,242,596)
	transactions with owners as owners

Condensed consolidated statement of financial performance

Earnings per security (EPS)	Current period	PreviouscorrespondingPeriod
Basic EPS1.18	(1.03c)	(1.6c
Diluted EPS1.19	$\blacksquare$	$\ddot{}$

+ See chapter 19 for defined terms.

Notes to the condensed consolidated statement of financial performance

Profit (loss) from ordinary activities attributable to members

		Current period - $A	Previous
			corresponding period -
			£Α
1.20	Profit (loss) from ordinary activities after tax	(1, 596, 755)	(2,242,596)
	$(i$ tem $1.7)$
1.21	Less (plus) outside $\pm$ equity interests	$\overline{\phantom{a}}$
1.22	Profit (loss) from ordinary activities after	(1,596,755)	(2,242,596)
	tax, attributable to members

Revenue and expenses from ordinary activities

(see note $15$ )

		Current period - $A	Previous
			corresponding period -
			$Α
1.23	Revenue from sales or services	421,038	221,045
1.24	Interest revenue	3,303	43,485
1.25	Other relevant revenue	7,431
1.26	Details of relevant expenses
	-Staff Expenses	164,840	500,797
	-Marketing Expenses	324,320	446,152
	-Consulting/Legal/Audit	347,200	467,295
	-Corporate/Admin Expenses	97,230	122,800
	-Other Operating Expenses	98,397	280,100
	-Cost of Sales	326,544	80,761
1.27	Depreciation and amortisationexcludingamortisation of intangibles (see item 2.3)	95,624	35,955
1.28	Capitalised outlaysInterest costs capitalised in asset values
1.29	Outlays capitalised in intangibles (unlessarising from an $^+$ acquisition of a business)

Consolidated retained profits

		Current period-	Previous corresponding
		$A	period - $A
1.30	Retained profits (accumulated losses) at thebeginning of the financial period	(20, 358, 082)	(16,617,078)
1.31	Net profit (loss) attributable to members (item1.1T)	(1, 596, 755)	(2,242,596)
1.32	Net transfers from (to) reserves (details ifmaterial)	w
1.33	Net effect of changes in accounting policies	w

+ See chapter 19 for defined terms.

1.34	Dividends and other equity distributions paidor payable	Wh
1.35	Retained profits (accumulated losses) at endof financial period	(21,954,837)	(18, 859, 674)

Intangible and extraordinary items

		Consolidated - current period
		Before tax$Α(a)	Related tax$Α(b)	Relatedoutside+equityinterests$Α(c)	Amount (after$\max$attributable tomembers$Α(d)
2.1	Amortisation of goodwill	270,506	$\bullet$		270,506
$2.2^{\circ}$	Amortisation of otherintangibles	270,692	₩	$\ddot{}$	270,692
2.3	Total amortisation ofintangibles	541,198	₩	$\ddot{}$	541,198
2.4	Extraordinaryitems(details)			₩
2.5	Total extraordinary items

Comparison of half year profits

(Preliminary final report only)

• $3.1$ Consolidated profit (loss) from ordinary activities after tax attributable to members reported for the $1st$ half year (item $1.22$ in the half yearly report)
• $3.2$ Consolidated profit (loss) from ordinary activities after tax attributable to members for the 2nd half year

Current year - $A	Previous year - $A
N/A	N/A
N/A	N/A

+ See chapter 19 for defined terms.

Condensed consolidated statement offinancial position		οfΑtendcurrent period$Α	As shown in lastannual report$A	As in last halfyearly report$A
	Current assets
4.1	Cash	141,647	188,464	1,022,276
4.2	Receivables	258,712	85,425	358,806
4.3	Investments
4.4	Inventories	302,955	505,299	113,027
4.5	Tax assets
4.6	Other (provide details if material)
4.7	Total current assets	703,314	779,188	1,494,109
	Non-current assets
4.8	Receivables
4.9	Investments (equity accounted)
4.10	Other investments
4.11	Inventories
4.12	Exploration and evaluation expenditurecapitalised (see para .71 of AASB1022)	15,000	240,750	250,000
4.13	properties$\int$ miningDevelopmententities)
4.14	Other property, plant and equipment(net)	489,578	485,349	511,180
4.15	Intangibles (net)	7,949,138	8,220,517	8,132,161
4.16	Tax assets
4.17	Other (provide details if material)	3,834	71,760	71,760
4.18	Total non-current assets	8,457,550	9,018,376	8,965,101
4.19	Total assets	9,160,864	9,797,564	10,459,210
	Current liabilities
4.20	Payables	972,639	704,455	358,580
4.21	Interest bearing liabilities	399,987	170,179	242,449
4.22	Tax liabilities
4.23	Provisions exc. tax liabilities	4,673	4,673
4.24	Other (provide details if material)
4.25	Total current liabilities	1,377,299	879,307	601,029
	Non-current liabilities
4.26	Payables
4.27	Interest bearing liabilities	508,812	565,750	490,500
4.28	Tax liabilities
4.29	Provisions exc. tax liabilities
4.30	Other (provide details if material)
4.31	Total non-current liabilities	508,812	565,750	490,500

Condensed consolidated statement of financial position continued

• See chapter 19 for defined terms.

		1,886,111	1,445,057	1,091,529
4.32	Total liabilities
4.33	Net assets	7,274,753	8,352,507	9,367,681
	Equity
4.34	Capital/contributed equity	28,736,438	28,217,438	27,734,203
4.35	Reserves	493,152	493,152	493,152
4.36	Retained profits (accumulated losses)	(21, 954, 837)	(20, 358, 083)	(18,859,674)
4.37	Equity attributable to members of the	7,274,753	8,352,507	9,367,681
	parent entity
4.38	Outside + equity interests in controlled
	entities
		7,274,753	8,352,507	9,367,681
4.39	Total equity
4.40	Preference capital included as part of4.37

Notes to the condensed consolidated statement of financial position

Exploration and evaluation expenditure capitalised

(To be completed only by entities with mining interests if amounts are material. Include all expenditure incurred.)

		Current period $A	Previous
			corresponding period -
			$A
5.1	Opening balance	240,750	250,000
5.2	Expenditure incurred during current period
53	Expenditure written off during current period
5.4	Acquisitions, disposals, revaluation	(225,750)
	increments, etc.
5.5	Expenditure transferred to Development
	Properties
5.6	Closing balance as shown in the	15,000	250,000
	consolidated balance sheet ( item 4.12 )

Development properties

(To be completed only by entities with mining interests if amounts are material)

		Current period $A	Previous
			corresponding
			period - $A
6.1	Opening balance
6.2	Expenditure incurred during current period
6.3	Expenditure transferred from exploration andevaluation
6.4	Expenditure written off during current period

+ See chapter 19 for defined terms.

6.5	Acquisitions, disposals, revaluation
	increments, etc.
6.6	Expenditure transferred to mine properties

$6.7$ Closing balance as shown in the consolidated balance sheet (item $4.13$ )

Condensed consolidated statement of cash flows

		Current period $A	Previous
			corresponding period
			$-$ $A
	Cash flows related to operating activities
7.1	Receipts from customers	436,412	355,000
7.2	Payments to suppliers and employees	(1,067,312)	(2,496,000)
7.3	Dividends received from associates
7.4	Other dividends received
7.5	Interest and other items of similar naturereceived	3,303	43,455
7.6	Interest and other costs of finance paid	(33,174)	(13,470)
7.7	Income taxes paid
7.8	Other (provide details if material)		(51,000)
		(660,771)	(2,162,015)
7.9	Net operating cash flows
	Cash flows related to investing ac tivities
7.10	Payment for purchases of property, plant andequipment	(302, 312)	(443,210)
7.11	Proceeds from sale of mineral interests	225,750
7.12	Payment for purchases of equity investments
7.13	Proceeds from sale of equity investments
7.14	Loans to associated entity	(204, 500)
7.15	Loans repaid by other entities
7.16	Other (provide details if material)
		(281,062)	(443,210)
7.17	Net investing cash flows
	Cash flows related to financing activities
7.18	Proceeds from issues of + securities (shares,options, etc.)	519,001	3,500,000
7.19	Proceeds from borrowings	439,000	242,000
7.20	Repayment of borrowings	(62,985)
7.21	Dividends paid
7.22	Other (provide details if material)		(44, 439)
		895,016	3,697,561
7.23	Net financing cash flows
7.24	Net increase (decrease) in cash held	(46, 817)	1,092,336
7.25	Cash at beginning of period	188,464	(70,060)
	(see Reconciliation of cash)
7.26	Exchange rate adjustments to item 7.25.

• See chapter 19 for defined terms.

$7.27$ Cash at end of period

(see Reconciliation of cash)

141,647	1,022

$.276$

Non-cash financing and investing activities

Details of financing and investing transactions which have had a material effect on consolidated assets and liabilities but did not involve cash flows are as follows. (If an amount is quantified, show comparative amount.)

Reconciliation of cash

Reconciliation of cash at the end of the period (asshown in the consolidated statement of cash flows) tothe related items in the accounts is as follows.		Current period $A	Previouscorrespondingperiod - $A
8.1	Cash on hand and at bank	141,647	172,276
8.2	Deposits at call	$\sim$
8.3	Bank overdraft	$\sim$
8.4	Other (provide details)		850,000
8.5	Total cash at end of period (item 7.27)	141,647	1,022,276

Other notes to the condensed financial statements

Ratios		Current period	Previouscorrespondingperiod
9.1	Profit before tax / revenueConsolidated profit (loss) from ordinaryactivities before tax ( item 1.5 ) as a percentageof revenue (item 1.1)	(370%)
9.2	Profit after tax $/$ + equity interestsConsolidated net profit (loss) from ordinaryactivities after tax attributable to members( item 1.11 ) as a percentage of equity (similarlyattributable) at the end of the period (item4.37	(22%)

Earnings per security (EPS)

1. Details of basic and diluted EPS reported separately in accordance with paragraph 9 and 18 of AASB 1027: Earnings Per Share are as follows.

Weighted number of ordinary shares used in the calculation of basic EPS is 155,508,502. Diluted EPS has not been calculated for options on issue as there are no potential ordinary shares on issue that are dilutive in respect of these options.

+ See chapter 19 for defined terms.

NTA backing(see note $7)$	Current period	Previous correspondingperiod
11.1Net tangible asset backing per + ordinarysecurity	$0.0024

Discontinuing Operations

(Entities must report a description of any significant activities or events relating to discontinuing operations in accordance with paragraph 7.5 (g) of AASB 1029: Interim Financial Reporting, or, the details of discontinuing operations they have disclosed in their accounts in accordance with AASB 1042: Discontinuing Operations (see note 17).)

12.1	Discontinuing Operations

Control gained over entities having material effect

• Name of entity (or group of $13.1$ entities)
• $N/A$
• 13.2 Consolidated profit (loss) from ordinary activities and extraordinary items after tax of the controlled entity (or group of entities) since the date in the current period on which control was +acquired
• 13.3 Date from which such profit has been calculated
• 13.4 Profit (loss) from ordinary activities and extraordinary items after tax of the controlled entity (or group of entities) for the whole of the previous corresponding period

$\mathbb S$
S

Loss of control of entities having material effect

14.1	Name of entity (or group of entities)'N/A
14.2	Consolidated profit (loss) from ordinary activities andextraordinary items after tax of the controlled entity (or groupof entities) for the current period to the date of loss of control	N/A
14.3	Date to which the profit (loss) in item 14.2 has been calculated	N/A
14.4	Consolidated profit (loss) from ordinary activities andextraordinary items after tax of the controlled entity (or groupof entities) while controlled during the whole of the previouscorresponding period	N/A

+ See chapter 19 for defined terms.

14.5 Contribution to consolidated profit (loss) from ordinary activities and extraordinary items from sale of interest leading to loss of control

Dividends (in the case of a trust, distributions)

• $15.1 -$ Date the dividend (distribution) is payable
• $15.2$ +Record date to determine entitlements to the dividend (distribution) (ie, on the basis of proper instruments of transfer received by 5.00 pm if $+$ securities are not $+$ CHESS approved. or security holding balances established by 5.00 pm or such later time permitted by SCH Business Rules if +securities are +CHESS approved)
• 15.3 If it is a final dividend, has it been declared? (Preliminary final report only)

Amount per security

		Amount persecurity	Frankedamount persecurity at $%$tax (see note4)	Amount persecurity offoreign sourcedividend
15.4	(Preliminary final report only)Final dividend:Current year	$N/A\ell$	$N/A$ ¢	$N/A\epsilon$
15.5	Previous year	$N/A\ell$	$N/A\phi$	$N/A\epsilon$
15.6	(Half yearly and preliminary final reports)Interim dividend: Current year	$N/A\ell$	$N/A$ ¢	$N/A\epsilon$
15.7	Previous year	$N/A$ ¢	$N/A$ ¢	$N/A\epsilon$

Total dividend (distribution) per security (interim plus final)

(Preliminary final report only)

+Ordinary securities

Current year	Previous year
N/Ae	$N/A$ ¢
$N/A\phi$	$N/A$ ¢

15.9 Preference +securities

15.8

Half yearly report - interim dividend (distribution) on all securities or Preliminary final report - final dividend (distribution) on all securities

Current period $A	Previous correspondingperiod - $A

$15.10$ +Ordinary securities (each class separately)

$N/A$

N/A
N/A

$N/A$

+ See chapter 19 for defined terms.

$\overline{N/A}$

• 15.11 Preference +securities (each class separately)
• 15.12 Other equity instruments (each class separately)
• 15.13 Total

The +dividend or distribution plans shown below are in operation.

$N/A$

The last date(s) for receipt of election notices for the +dividend or distribution plans

$N/A$

Any other disclosures in relation to dividends (distributions). (For half yearly reports, provide details in accordance with paragraph 7.5(d) of AASB 1029 Interim Financial Reporting)

$N/A$

Details of aggregate share of profits (losses) of associates and joint venture entities

entities':	Group's share of associates' and joint venture	Current period $A	Previouscorresponding period- SA
16.1	Profit (loss) from ordinary activities before tax	(137)	N/A
16.2	Income tax on ordinary activities
16.3	Profit (loss) from ordinary activities aftertax	(137)	N/A
16.4	Extraordinary items net of tax	w
16.5	Net profit (loss)	(137)	N/A
16.6	Adjustments		N/A
16.7	Share of net profit (loss) of associates andjoint venture entities	(137)	N/A

+ See chapter 19 for defined terms.

Material interests in entities which are not controlled entities

The economic entity has an interest (that is material to it) in the following entities. (If the interest was acquired or disposed of during either the current or previous corresponding period, indicate date of acquisition ("from dd/mm/yy") or disposal ("to dd/mm/yy").)

Name of entity	Percentage of ownership		Contribution to net profit (loss) (item
	interest held at end of period or		1.9)
	date of disposal
17.1Equity accountedassociates andjoint ventureentities	Currentperiod	Previouscorrespondingperiod	Current period$Α	Previouscorrespondingperiod - $A
Care Medical Ltd	49%	$\ddot{}$	(137)	Nil
Mathina JV	Nil	50%	Nil	Nil
Nowthanna JV	20%	20%	Nil	Nil
Total17.2			(137)
Other material17.3interests	N/A
Total17.4

+ See chapter 19 for defined terms.

Issued and quoted securities at end of current period

(Description must include rate of interest and any redemption or conversion rights together with prices and dates)

	Category of + securities		Total number		Number quoted	Issueprice persecurity(see note14)(cents)	Amountpaid uppersecurity(seenote $14$ )(cents)
18.1	Preference +securities(description)	NIL		NIL		N/A	N/A
18.2	Changes during current period(a) Increases through issues(b) Decreases through returnsof capital, buybacks,redemptions	NIL		NIL		N/A	N/A
18.3	$+$ Ordinary securities		162,354,464		108,041,677
18.4	Changes during current period(a) Increases through issues(b) Decreases through returnsof capital, buybacks		700,00013,614,281		700,00013,614,281	7.53.5	7.5$3.5^{\circ}$
18.5	$+$ Convertible debt securities(description and conversionfactor)	NIL		NIL		N/A	N/A
18.6	Changes during current period(a) Increases through issues(b) Decreases throughsecurities matured, converted	NIL		$\overline{\text{NIL}}$		N/A	N/A
18.7	Options (description andconversion factor)					Exerciseprice	Expirydate(if any)
			22,795,78760,561,113		22,795,78737,217,180	$0.80$0.20	30/06/0330/06/05
18.8	Issued during current period	NIL		NIL
18.9	Exercised during currentperiod	NIL		NIL			w
18.10	Expired during current period	NIL		NIL		$\tilde{}$	w
18.11	Debentures (description)	NIL		NIL
18.12	Changes during current period(a) Increases through issues
	(b) Decreases throughsecurities matured, converted

+ See chapter 19 for defined terms.

18.13	Unsecured notes(description)	NIL	NIL
18.14	Changes during current period(a) Increases through issues(b) Decreases throughsecurities matured, converted

Additional notes to Appendix 4B

1 Contributed equity

	Consolidated
	31 December	$30$ June
	2002	2002
Issued and paid up capital
162,354,464 (30 June 2002:148,040,183) ordinary shares, fullypaid	28,736,438	28,217,438

During September 2002, the Company placed 14,314,281 ordinary shares. 700,000 shares were issued at $0.075 per share and the remaining 13,614,281 shares were issued at $0.035 per share.

No options expired during the half year, or prior year.

2 Contingent liabilities and contingent assets

There were no contingent liabilities or contingent assets.

Total equity reconciliation $31$

	Consolidated
	2002	2001
	S	S
Total equity at beginning of the half year	8,352,507	991,214
Total changes in parent entity interest in equity recognised in
statement of financial performance	(1.596, 755)	(2,242,596)
Transaction with owners as owners:
Contributions of equity	519.001	10,629,063
Total equity at end of the half year	7,274,753	9,367,681

Subsequent Events 4

A Private placement of $350,000 has been received, as approved at the Annual General Meeting held 29 November 2002. A total of 9,999,879 fully paid shares have been issued and quoted on the ASX as of 23 January 2003.

In January 2003 a payment of $317,418 was received as authorised through Auslindustry for eligible $R & D$ and a payment of $60,000 was received as an initial payment for grant application through the Australian Government, Export Marketing Development Scheme.

+ See chapter 19 for defined terms.

5. Basis of accounts preparation

a) Basis of preparation of half-year financial report

The half-year financial report is a general purpose financial report which has been prepared in accordance with the requirements of the Cornorations Act 2001. Accounting Standard AASB 1029 Interim Financial Reporting the recognition and measurement requirements of applicable AASB standards other authoritative pronouncements of the Australian Accounting Standards Board and Urgent Issues Group consensus views. This half-year financial report is to be read in conjunction with the 30 June 2002 Annual Financial Report and any public announcements by Medical Monitors Limited and its controlled entities during the half-year in accordance with continuous disclosure obligations arising under the Corporations Act 2001.

It has been prepared on the basis of historical costs and except where stated, does not take into account changing money values or current valuations of non-current assets.

These accounting policies have been consistently applied by each entity in the economic entity and, except where there is a change in accounting policy, are consistent with those applied in the 30 June 2002 Annual Financial Report.

The half-year report does not include full note disclosures of the type normally included in an annual financial report.

$\mathbf{b}$ Going concern

The financial statements have been prepared on a going concern basis, which contemplates continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business. The consolidated entity incurred an operating loss of $1,596,755 during the half-year ended 31 December 2002. including an amortisation charge for Intellectual Property and Goodwill of $541,198, and had a deficiency of net current assets of $673,985.

The Directors nevertheless believe that it is appropriate to prepare the financial statements on a going concern basis for the following reasons:

• Over the past year the Company has implemented a number of cost reduction strategies in consolidating its operations, both in Australia and overseas.
• The Company's strategic alliances with a number of major pharmaceutical companies will $\bullet$ provide for ongoing sales revenue as contemplated in the business plan.

The consolidated entity's ability to generate positive net cash flow in the 12 months from the date of this report, as contemplated in the business plan, is dependent on a number of factors but primarily on its ability to successfully develop both the US and European markets either directly or through joint ventures respectively and the supply of monitoring devices from the manufacturer on a timely basis.

If the consolidated entity is unable to successfully develop the international and local markets as contemplated in the business plan, alternative strategies may be employed to either raise additional capital or debt funding or reduce expenditure through a scale back of the international marketing initiatives.

In the event that the consolidated entity does not meet its planned revenue and cash-flow targets or successfully adopt alternative strategies in the 12 months from the date of this report, the consolidated entity may not be able to realise its assets and extinguish its liabilities in the normal course of business at the amounts stated in financial report. Accordingly, the going concern basis used in the preparation of the financial report would not be appropriate.

+ See chapter 19 for defined terms.

6 Segment reporting

(Information on the business and geographical segments of the entity must be reported for the current period in accordance with AASB 1005: Segment Reporting and for half year reports, AASB 1029: Interim Financial Reporting. Because entities employ different structures a pro forma cannot be provided. Segment information in the layout employed in the entity's $\pm$ accounts should be reported separately and attached to this report.)

Business Segments	Currentperiod$A.	Previouscorrespondingperiod$Α
Segment revenueMedical monitoring and diagnostic services	421,038	221,045
Segment revenue	421,038	221,045
Unallocated revenue	10,734	43,485
Total revenue	432,772	264,530
Note: There are no material inter segment revenues
Segment result
Medical Diagnostic Services	(1, 596, 755)	(2,280,440)
Segment result	(1, 596, 755)	(2,280,440)
Unallocated revenue and expense		37,844
Loss from ordinary activities before tax (item 1.5)	(1, 596, 755)	(2,243,596)

Comments by directors

(Comments on the following matters are required by ASX or, in relation to the half yearly report, by AASB 1029: Interim Financial Reporting. The comments do not take the place of the directors' report and statement (as required by the Corporations Act) and may be incorporated into the directors' report and statement. For both half yearly and preliminary final reports, if there are no comments in a section, state NIL. If there is insufficient space to comment, attach notes to this report.)

See review of operations in accompanying Directors' Report.

$\div$ See chapter 19 for defined terms.

Basis of financial report preparation

• $19.1 -$ If this report is a half vearly report, it is a general purpose financial report prepared in accordance with the listing rules and AASB 1029: Interim Financial Reporting. It should be read in conjunction with the last +annual report and any announcements to the market made by the entity during the period. The financial statements in this report are "condensed financial statements" as defined in AASB 1029: Interim Financial Reporting. This report does not include all the notes of the type normally included in an annual financial report.
• $19.2$ Material factors affecting the revenues and expenses of the economic entity for the current period. In a half vearly report, provide explanatory comments about any seasonal or irregular factors affecting operations.

A description of each event since the end of the current period which has had a material effect and which $19.3$ is not already reported elsewhere in this Appendix or in attachments, with financial effect quantified (if possible).

• 19.4 Franking credits available and prospects for paying fully or partly franked dividends for at least the next year.
• $19.5$ Unless disclosed below, the accounting policies, estimation methods and measurement bases used in this report are the same as those used in the last annual report. Any changes in accounting policies, estimation methods and measurement bases since the last annual report are disclosed as follows. (Disclose changes and differences in the half yearly report in accordance with AASB 1029: Interim Financial Reporting. Disclose changes in accounting policies in the preliminary final report in accordance with $AASB$ 1001: Accounting Policies-Disclosure).

$\div$ See chapter 19 for defined terms.

19.6 Revisions in estimates of amounts reported in previous interim periods. For half yearly reports the nature and amount of revisions in estimates of amounts reported in previous +annual reports if those revisions have a material effect in this half year.

19.7 Changes in contingent liabilities or assets. For half yearly reports, changes in contingent liabilities and contingent assets since the last+ annual report.

Additional disclosure for trusts

• 20.1 Number of units held by the management company or responsible entity or their related parties.
• 20.2 A statement of the fees and commissions payable to the management company or responsible entity.

Identify:

• initial service charges $\bullet$
• management fees
• other fees

Annual meeting

(Preliminary final report only)

The annual meeting will be held as follows: Place Date Time Approximate date the 'annual report will be available

+ See chapter 19 for defined terms.

Compliance statement

$\overline{\phantom{a}}$ This report has been prepared in accordance with AASB Standards, other AASB authoritative pronouncements and Urgent Issues Group Consensus Views or other standards acceptable to ASX (see note 12).

Identify other standards used

• This report, and the +accounts upon which the report is based (if separate), use the same $\overline{2}$ accounting policies.
• 3 This report does give a true and fair view of the matters disclosed (see note 2).
• $\overline{4}$ This report is based on "accounts to which one of the following applies.

(Tick one)	The $\alpha$ accounts have been $\checkmark$audited.	The "accounts have beensubject to review.
	The f accounts are in theprocess of being audited orsubject to review.	The * accounts have not yetbeen audited or reviewed.

• 5 The review by the auditor is attached. (Half yearly report only $-$ the audit report or review by the auditor must be attached to this report if this report is to satisfy the requirements of the Corporations Act.)
• 6 The entity has a formally constituted audit committee.

Director

Date: 12 March 2003

Print name:

Signature:

Dr Allan Shell

$\div$ See chapter 19 for defined terms.

Notes

• $\overline{\phantom{a}}$ For announcement to the market. The percentage changes referred to in this section are the percentage changes calculated by comparing the current period's figures with those for the previous corresponding period. Do not show percentage changes if the change is from profit to loss or loss to profit, but still show whether the change was up or down. If changes in accounting policies or procedures have had a material effect on reported figures, do not show either directional or percentage changes in profits. Explain the reason for the omissions in the note at the end of the announcement section. Entities are encouraged to attach notes or fuller explanations of any significant changes to any of the items in page 1. The area at the end of the announcement section can be used to provide a cross reference to any such attachment.
• $2.$ True and fair view If this report does not give a true and fair view of a matter (for example, because compliance with an Accounting Standard is required) the entity must attach a note providing additional information and explanations to give a true and fair view.

$\overline{3}$ . Condensed consolidated statement of financial performance

• Item $1.1$ The definition of "revenue" and an explanation of "ordinary activities" are set out in AASB 1004: Revenue, and AASB 1018: Statement of Financial Performance.
• Item $1.6$ This item refers to the total tax attributable to the amount shown in item 1.5. Tax includes income tax and capital gains tax (if any) but excludes taxes treated as expenses from ordinary activities (eg. fringe benefits tax).
• $41$ Income tax If the amount provided for income tax in this report differs (or would differ but for compensatory items) by more than 15% from the amount of income tax prima facie payable on the profit before tax, the entity must explain in a note the major items responsible for the difference and their amounts. The rate of tax applicable to the franking amount per dividend should be inserted in the heading for the column "Franked amount per security at $\frac{6}{10}$ $\text{tax}^*$ for items 15.4 to 15.7.

5. Condensed consolidated statement of financial position

Format The format of the consolidated statement of financial position should be followed as closely as possible. However, additional items may be added if greater clarity of exposition will be achieved, provided the disclosure still meets the requirements of AASB 1029: Interim Financial Reporting, and AASB 1040: Statement of Financial Position. Also, banking institutions, trusts and financial institutions may substitute a clear liquidity ranking for the Current/Non-Current classification.

Basis of revaluation If there has been a material revaluation of non-current assets (including investments) since the last "annual report, the entity must describe the basis of revaluation adopted. The description must meet the requirements of AASB 1010: Accounting for the Revaluation of Non-Current Assets. If the entity has adopted a procedure of regular revaluation, the basis for which has been disclosed and has not changed, no additional disclosure is required.

1. Condensed consolidated statement of cash flows For definitions of "cash" and other terms used in this report see AASB 1026: Statement of Cash Flows. Entities should follow the form as closely as possible, but variations are permitted if the directors (in the case of a trust, the management company) believe that this presentation is inappropriate. However, the

$\div$ See chapter 19 for defined terms.

presentation adopted must meet the requirements of AASB 1026. $\pm$ Mining exploration entities may use the form of cash flow statement in Appendix 5B.

• $71$ Net tangible asset backing Net tangible assets are determined by deducting from total tangible assets all claims on those assets ranking ahead of the $+$ ordinary securities (ie, all liabilities, preference shares, outside $+$ equity interests etc). $+$ Mining entities are not required to state a net tangible asset backing per $+$ ordinary security.
• 1. Gain and loss of control over entities The gain or loss must be disclosed if it has a material effect on the "accounts. Details must include the contribution for each gain or loss that increased or decreased the entity's consolidated profit (loss) from ordinary activities and extraordinary items after tax by more than 5% compared to the previous corresponding period.
• $\mathbf{Q}$ Rounding of figures This report anticipates that the information required is given to the nearest $1. If an entity reports exact figures, the $A'000 headings must be amended. If an entity qualifies under ASIC Class Order 98/0100 dated 10 July 1998, it may report to the nearest million dollars, or to the nearest $100,000, and the $A'000 headings must be amended.
• $10^{-1}$ Comparative figures Comparative figures are to be presented in accordance with AASB 1018 or AASB 1029 Interim Financial Reporting as appropriate and are the unadjusted figures from the latest annual or half year report as appropriate. However, if an adjustment has been made in accordance with an accounting standard or other reason or if there is a lack of comparability, a note explaining the position should be attached. For the statement of financial performance, AASB 1029 Interim Financial Reporting requires information on a year to date basis in addition to the current interim period. Normally an Appendix 4B to which AASB 1029 Interim Financial Reporting applies would be for the half year and consequently the information in the current period is also the year to date. If an Appendix 4B Half yearly version is produced for an additional interim period (eg because of a change of reporting period), the entity must provide the year to date information and comparatives required by AASB 1029 Interim Financial Reporting. This should be in the form of a multi-column version of the consolidated statement of financial performance as an attachment to the additional Appendix 4B.
• Additional information An entity may disclose additional information about any matter, and $11.$ must do so if the information is material to an understanding of the reports. The information may be an expansion of the material contained in this report, or contained in a note attached to the report. The requirement under the listing rules for an entity to complete this report does not prevent the entity issuing reports more frequently. Additional material lodged with the $A^+$ ASIC under the Corporations Act must also be given to ASX. For example, a director's report and declaration, if lodged with the $^{+}$ ASIC, must be given to ASX.
• $12.$ Accounting Standards ASX will accept, for example, the use of International Accounting Standards for foreign entities. If the standards used do not address a topic, the Australian standard on that topic (if one exists) must be complied with.
• $13.$ Corporations Act financial statements This report may be able to be used by an entity required to comply with the Corporations Act as part of its half-year financial statements if prepared in accordance with Australian Accounting Standards.
• $14.$ Issued and quoted securities The issue price and amount paid up is not required in items 18.1 and 18.3 for fully paid securities.

$\div$ See chapter 19 for defined terms.

15 Details of expenses AASB 1018 requires disclosure of expenses from ordinary activities according to either their nature or function. For foreign entities, there are similar requirements in other accounting standards accepted by ASX. AASB ED 105 clarifies that the disclosures required by AASB 1018 must be either all according to nature or all according to function. Entities must disclose details of expenses using the layout (by nature or function) employed in their $+$ accounts.

The information in lines 1.23 to 1.27 may be provided in an attachment to Appendix 4B.

Relevant Items AASB 1018 requires the separate disclosure of specific revenues and expenses which are not extraordinary but which are of a size, nature or incidence that disclosure is relevant in explaining the financial performance of the reporting entity. The term "relevance" is defined in $AASB$ 1018. There is an equivalent requirement in $AASB$ 1029: Interim Financial Reporting. For foreign entities, there are similar requirements in other accounting standards accepted by ASX.

16 Dollars If reporting is not in A$, all references to $A must be changed to the reporting currency. If reporting is not in thousands of dollars, all references to "000" must be changed to the reporting value.

$17.$ Discontinuing operations

Half yearly report

All entities must provide the information required in paragraph 12 for half years beginning on or after 1 July 2001.

Preliminary final report

Entities must either provide a description of any significant activities or events relating to discontinuing operations equivalent to that required by paragraph 7.5 (g) of AASB 1029. Interim Financial Reporting, or, the details of discontinuing operations they are required to disclose in their +accounts in accordance with AASB 1042 Discontinuing Operations.

In any case the information may be provided as an attachment to this Appendix 4B.

18. Format

This form is a Word document but an entity can re-format the document into Excel or similar applications for submission to the Companies Announcements Office in ASX.

$\div$ See chapter 19 for defined terms.