TITANIUM SANDS LIMITED — Major Shareholding Notification 2004

Feb 25, 2004

PRECIOUS METALS AUSTRALIA LIMITED TOP SPREAD REPORT- SHARES DATE: 25/02/2004 A C N : 009 131 533

CLASS: 2 PMA ORDINARY

	SPREAD		OF HOLDINGS	NUMBER OF HOLDERS	NUMBER OF UNITS	% OF TOTAL ISSUE
CAPITAL
		$\mathbf{I}$ -	1,000	568	303,171	0.918 %
	1,001 -		5,000	639	1,665,216	$5.046$ $%$
	$5,001 -$		10,000	143	1,095,270	3.319f
	$10,001 -$		100,000	151	3,879,729	11.757 %
			100,001 - 99999999999	22	26,054,326	78.957 %
			TOTAL	1,523	32,997,712	99.997 %
						_ _ _ _ _ _ _ _ _

PRECIOUS METALS AUSTRALIA LIMITED TOP SPREAD REPORT - OPTIONS DATE: 25/02/2004 A C N : 009 131 533

CLASS: 12 PMAOB 01122005/\$2

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CAPITAL			SPREAD OF HOLDINGS	NUMBER OF HOLDERS	NUMBER OF UNITS	& OF TOTAL ISSUE
		$1 -$	1,000	987.	440,354	3.476 %
	$1,001 -$		5,000	447	976,248	7.569 %
	$5,001 -$		10,000	85	621,983	4 822 %
	$10.001 -$		100,000	88	2,579,708	20.003 %
			$100,001 - 99999999999999999999999999999999999$	22.	8,270,041	64.127 %
			TOTAL	1,629	12,896,334	99.997 %

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