WEEBIT NANO LTD — Capital/Financing Update 2010

Dec 20, 2010

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RADAR IRON LIMITED ACN: 146 455 576 Suite 2, 12 Parliament Place West Perth Western Australia 6005 P 08 9482 0580 F 08 9482 0505 E info@radariron.com.au

16 December 2010

Ref 2.2.4

Farlee Walker ASX Limited Level 8, The Exchange Plaza 2 The Esplanade Perth WA 6000 Facsimile: +61 8 9221 2020

Dear Farlee,

Re: ESCROW SCHEDULE

Statement of Ordinary Shares in Escrow:

Security	Escrow Period	Escrow Commencement Date	Total Issued	Number subject to Escrow
ORD	24 months	Listing date	22,940,612	22,815,612
ORD	12 months	4 Nov 2010	4,500,000	2,250,000
ORD	12 months	16 Dec 2010	200,000	200,000
Sub-total			27,640,612	25,265,612
ORD	Other Unrestricted		34,239,500	-
Total			61,880,112	25,265,612

Statement of Options in Escrow:

Security	Exercise Price	Expiry Date	Escrow Period	Escrow Commencement Date	Total Issued	Number subject to Escrow
Option	25 cents	30 Nov 13	24 months	Listing date	14,375,000	14,000,000
Option	30 cents	31 May 14	24 months	Listing date	2,375,000	2,000,000
Option	25 cents	30 Nov 13	24 months	Listing date	6,000,000	6,000,000
Total					22,750,000	22,000,000

Kind Regards,

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Philip Wingate Company Secretary Radar Iron Ltd