RAIDEN RESOURCES LIMITED — Capital/Financing Update 2008

Jul 28, 2008

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SHELL

VILLAGES AND RESORTS LIMITED

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29[th] July 2008

Dear Shareholders,

Shell Villages and Resorts Limited (ASX:SVC) is pleased to announce that the company has negotiated the sale of Brisbane River Terraces in Goodna, and is entering into contracts for the same, subject to shareholder approval.

The board and management team of Shell Villages view the offer of approximately $7.8m for Brisbane River Terraces village representing a positive result which will allow debt to be cleared and reallocate capital into assets offering shareholders a better return.

SVC will make further announcements as final details are clarified and will keep the market fully informed.

Kind regards

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Lynn Thompson COMPANY SECRETARY