RAIDEN RESOURCES LIMITED — M&A Activity 2005

Sep 18, 2005

MEDICAL MONITORS LIMITED (ASX:MDM)

UPDATE ON REVERSE TAKEOVER OF MDM INTEREST IN MEDPRI LTD (PRIMEDICAL)

Further to previously released information, and under ASX Listing Rule 3.1, the Directors of Medical Monitors Limited (ASX:MDM) wish to advise that Belgravia Telecom Limited ("Belgravia"), whose shares are listed on the Alternative Investment Market of the London Stock Exchange ("AIM"), announced that they have entered into Heads of Agreement with MDM and Medpri Limited ("Medpri"), trading as Primedical International ("Primedical").

Belgravia is proposing to acquire the entire issued share capital of Medpri, along with exclusive distribution and certain intellectual property owned by MDM and currently licensed to Mepri, by the issue of 61,425,000 ordinary shares in Belgravia credited as fully paid.

Under the AIM Rules, the transaction will be deemed to be a reverse takeover and accordingly, the quotation for Belgravia's shares on AIM has been temporarily suspended.

The transaction will be subject to approval by MDM shareholders through an EGM, as well as seeking any necessary approval from ASIC and the ASX. MDM shareholders will directly benefit from the transaction, through the distribution of Belgravia shares pro-rata to their existing holding, if approved. Similarly, the transaction will be subject to the approval of Belgravia shareholders and to the shares of Belgravia being readmitted to AIM.

Medpri holds the exclusive distribution rights for monitoring technology which has been licensed from MDM for the USA, UK and Europe. Medpri's majority owned operating subsidiary, iCardia Healthcare Corporation ("iCardia"), a USA based cardiac monitoring service, in turn has been granted an exclusive sublicense for the USA market.

MDM shareholders, through their resultant shareholding in Belgravia, will gain significant benefits from the transaction, as a result of Medpri's ability to raise sufficient working capital to accelerate the growth of the iCardia business and the implementation of the UK and European business plan.

Importantly, funds being raised for the working capital requirement of GBP£3.5 (AUD \$8.25) million are nearing conclusion, the majority of which will be used to fund the infrastructure expansion, sales and marketing and device purchases associated with the growth of the iCardia monitoring service business.

About Medori / Primedical

Medpri / Primedical is a fast growing technology, sales and distribution company, positioned to become a pre-eminent provider of diagnostic tele-medicine products and services competing in the global cardiovascular monitoring market worth an estimated USD \$1 billion (AUD \$1.3 billion). It holds the exclusive license and distribution rights for the USA and Europe of MDM's principal products and services, which are aimed at the diagnosis and treatment of irregular heartbeat (arrhythmia) and the monitoring of blood pressure.

The Company has already established significant sales in the US cardiac monitoring sector through its 86% owned US subsidiary iCardia Healthcare Corporation (iCardia). It delivers ECG cardiac monitoring services through its Chicago-based national clinical call centre and uses MDM's unique 'single use' monitoring technology, the suPER™.

In the US, there are some 14 million people living with a history of heart disease. Of those, 4 million have been diagnosed with arrhythmia, or irregular heartbeat which may be a precursor to sudden cardiac death if not controlled. The global arrhythmia management device market is growing rapidly, as the world's population ages and cost-effective diagnosis and management of heart rhythm disorders grows in importance.

The Directors will keep shareholders fully informed of any substantive developments and a complete memorandum of information will be provided in the Notice of Meeting, as is required prior to the EGM being called. Further announcements will be made through the ASX as and when appropriate.

For further information please contact:

Dr Allan Shell Managing Director

(02) 9344 8100