TIVAN LIMITED — Capital/Financing Update 2007

Jun 28, 2007

TNGUMITED

SALE OF TENEMENTS TO WESTERN DESERT RESOURCES

29 June 2007

TNG LTD (ASX: "TNG") announced to the market on the 28^th February 2007 the disposal of a package of non-core tenements to Western Desert Reources Pty Ltd (WDR).

WDR has, since the announcement, become a public unlisted company and is currently applying for listing on the ASX. The Prospectus, containing the details of the IPO can be found on the WDR website. www.westerndesertresources.com.au

The sale is conditional upon WDR achieving a listing on the ASX and the consideration agreed as 10 million WDR shares upon listing.

The Directors have resolved to distribute these shares back to the TNG shareholders on a pro rata basis, subject to ASX, and all other required regulatory approvals including shareholder approval. The full details of the intended distribution will be circulated to shareholders after the WDR listing currently proposed as 12 July 2007.

Yours faithfully TNG Limited

DAMIAN DELANEY Company Secretary