TIVAN LIMITED — Major Shareholding Notification 2007

Aug 23, 2007

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	TNG Limited
ACN/ARSN	000 817 023

1. Details of substantial holder (1)

Name		RAB Special Situations (Master) Fund Limited
(A Cayman Islands Registered Company) ACN/ARSN (if applicable)
There was a change in the interests of the substantial holder on		16/08/2007
The previous notice was given to the company on		25/06/2007
The previous notice was dated		25/06/2007

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary shares	14,020,338	7.7%	17,020,338	9.3%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
See attached schedule

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
RAB Special Situations (Master) Fund Limited	Westpac Custodian Nominees Limited	Westpac Custodian Nominees Limited	Beneficial holder	17,020,338 ordinary shares	17,020,338

_________	______	_ _________	______	_____	_____
			______ -----	--------------------------------------- ______	_ _____
________	________	____
_________	__	_________	_________	. ______	--------------------------------------- _________
		_________

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Westpac Custodian Nominees Limited	50 Pitt St, Sydney, NSW 2000, Australia
RAB Special Situations (Master) Fund Limited	C/O RAB Capital plc, 1 Adam Street, London, WC2N 6LE, UK

Signature

print name	Alex Worner	capacity	Solicitor
	sign here there does	date	23/08/2007

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• Include details of: $(6)$
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) $(a)$ applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or $(b)$ disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired $(7)$ has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $(8)$

"unknown".

(9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

Schedule to Form 604

Date of change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change (AS)	Class and number of securities affected	Person's votes affected
10/08/2007	RAB Special Situations (Master) Fund Limited	Purchase of 280,013 Ordinary Shares	157,120.89	280,013 Ordinary Shares	RAB Special Situations (Master) Fund Limited
13/08/2007	RAB Special Situations (Master) Fund Limited	Purchase of 655,513 Ordinary Shares	365,401.7201	655,513 Ordinary Shares	RAB Special Situations (Master) Fund Limited
14/08/2007	RAB Special Situations (Master) Fund Limited	Purchase of 95,071 Ordinary Shares	53,346.24	95,071 Ordinary Shares	RAB Special Situations (Master) Fund Limited
15/08/2007	RAB Special Situations (Master) Fund Limited	Purchase of 138,932 Ordinary Shares	77,957.52	138,932 Ordinary Shares	RAB Special Situations (Master) Fund Limited
16/08/2007	RAB Special Situations (Master) Fund Limited	Purchase of 1,091,121 Ordinary Shares	574,445.5781	1,091,121 Ordinary Shares	RAB Special Situations (Master) Fund Limited
17/08/2007	RAB Special Situations (Master) Fund Limited	Purchase of 303,090 Ordinary Shares	164,607.2802	303,090 Ordinary Shares	RAB Special Situations (Master) Fund Limited
20/08/2007	RAB Special Situations (Master) Fund Limited	Purchase of 106,548 Ordinary Shares	59,765.18004	106,548 Ordinary Shares	RAB Special Situations (Master) Fund Limited
21/08/2007	RAB Special Situations (Master) Fund Limited	Purchase of 150,000 Ordinary Shares	83,835.09	150,000 Ordinary Shares	RAB Special Situations (Master) Fund Limited
23/08/2007	RAB Special Situations (Master) Fund Limited	Purchase of 179,712 Ordinary Shares	100,359.39	179,712 Ordinary Shares	RAB Special Situations (Master) Fund Limited