RAIDEN RESOURCES LIMITED — Regulatory Filings 2008

Oct 15, 2008

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SHELL

VILLAGES AND RESORTS LIMITED

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15[th] October 2008

Dear Shareholder

Shell villages and Resorts would like to inform the market that after completing Due Diligence for the Woodend deal, the company has decided not to proceed with the Option for this project.

Given the uncertainty in both financial markets and property sales, the company wishes to continue on its conservative approach to reducing debt and reducing creditors.

Yours faithfully

Corey Budd

Corey Budd MANAGING DIRECTOR