TIVAN LIMITED — Capital/Financing Update 2003

Jun 25, 2003

ASX PERTH

HALLMARK CONSOLIDATED LIMITED RETURN OF CAPITAL

Participating Organisations are advised that the return of capital of Hallmark Consolidated Limited (the "Company") approved by shareholders on 24 June 2003 will become effective on 27 June 2003.

The return of capital is by way of an in specie distribution of up to approximately 60,000,000 ordinary fully paid shares in Menzies Gold Limited (Subject to Deed of Company Arrangement)("Menzies") in the ratio of one Menzies share for every one share held in the Company.

The timetable is as follows.

24 June 2003	Shareholder approval
30 June 2003	Trading in securities on an "ex return of capital basis commences. ASX Code: HLM
4 July 2003	Record date for identifying shareholders entitled to participate in the return of capital.
7 July 2003	Date of distribution of Menzies shares.

The name change of Menzies Gold Limited (Subject to Deed of Company Arrangement) to Batavia Mining Limited ASX Code: BTV will be advised in due course.

ASX Contact:	Jill Hewitt
Business Unit	Companies Perth
Ext.No:	6023
Date:	26 June 2003