RAIDEN RESOURCES LIMITED — Interim / Quarterly Report 2004

Feb 26, 2004

Independent review report to the members of Medical Monitors Limited

Scope

The financial report and directors' responsibility

The financial report in the form of Appendix 4D of the Australian Stock Exchange Listing Rules. comprises the statement of financial performance, statement of financial position, statement of cash flows, accompanying notes as set out on pages 4 to 16, and the directors' declaration for Medical Monitors Limited and its controlled entities ("the Consolidated Entity), for the half-year ended 31 December 2003. The Consolidated Entity comprises Medical Monitors Limited ("the Company") and the entities it controlled during that half-year.

The directors of the Company are responsible for the preparation and true and fair presentation of the financial report in accordance with the Corporations Act 2001. This includes responsibility for the maintenance of adequate accounting records and internal controls that are designed to prevent and detect fraud and error, and for the accounting policies and accounting estimates inherent in the financial report.

Review approach

We have conducted an independent review of the financial report of Medical Monitors Limited ("the Company") for the half-year ended 31 December 2003 in the form of Appendix 4D of the Australian Stock Exchange Listing Rules, consisting of the statement of financial performance, statement of financial position, statement of cash flows, accompanying notes as set out on pages 4 to 16, and the directors' declaration, but excluding the following section:

(a) NTA backing (page 11).

This review has been conducted in order for the Company to lodge the financial report with the Australian Securities and Investments Commission. Our review was conducted in accordance with the Australian Auditing Standards applicable to review engagements.

We have performed procedures in order to state whether, on the basis of procedures described, anything has come to our attention that would indicate that the financial report does not present fairly in accordance with the Corporations Act 2001. Australian Accounting Standard AASB 1029 "Interim Financial Reporting" and other mandatory financial reporting requirements in Australia, a view which is consistent with our understanding of the Consolidated Entity's financial position and of its performance as represented by the results of its operations and its cash flows.

We formed our statement on the basis of the review procedures performed, which were limited primarily $to$ :

• Enquiries of company personnel; and $\blacksquare$
• Analytical procedures applied to the financial data. $\blacksquare$

While we considered the effectiveness of management's internal controls over financial reporting when determining the nature and extent of our procedures, our review was not designed to provide assurance on internal controls.

The procedures do not provide all the evidence that would be required in an audit, thus the level of assurance is less than given in an audit. We have not performed an audit, and accordingly, we do not express an audit opinion.

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A review cannot guarantee that all material misstatements have been detected.

Independence

In conducting our review, we followed applicable independence requirements of Australian professional ethical pronouncements and the Corporations Act 2001.

Statement

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year financial report of Medical Monitors Limited is not in accordance with:

• the Corporations Act 2001, including: a)
• i. giving a true and fair view of the Consolidated Entity's financial position as at 31 December 2003 and of its performance for the half-year ended on that date; and
• ii. complying with Australian Accounting Standard AASB 1029 "Interim Financial Reporting" and the Corporations Regulations 2001; and
• b) other mandatory financial reporting requirements in Australia.

Inherent uncertainty regarding continuation as a going concern

Without qualification to the opinion expressed above, attention is drawn to the following matter. As a result of matters described by the Directors in Additional Note 2(b), there is inherent uncertainty surrounding the ability of the company and the consolidated entity to continue as a going concern and therefore realise their assets and extinguish their liabilities in the normal course of business and at the amounts stated in the financial report.

Should the Company and the consolidated entity be unable to achieve the matters referred to in Additional Note 2(b), the Company and the consolidated entity may not be able to realise the full value of their assets and extinguish their liabilities in the normal course of business and at the amounts stated in the financial report.

Place: Sydney

Date: 27 February 2004

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John Wigglesworth Parmer Sydney, 27 February 2004