ZOONO GROUP LIMITED — Major Shareholding Notification 2003

Jan 6, 2003

Mr Daniel Ronald Watson Macquarie Financial Services GPO Box 663 ADELAIDE SA 5001

7^th January 2003

The Manager Companies Division Australian Stock Exchange (Sydney) PO Box H224 Australia Square SYDNEY NSW 1215

Dear Sir

Substantial Shareholder Notice - Form 604 A/C Daniel Ronald Watson

GOLDSEARCH LTD المستبين

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I enclose "Notice of change of interest of substantial holder" form duly completed.

Yours sincerely

DANIEL RONALD WATSON

Enc.

page 1 2 15 July 2001 601

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	GOLDSEARCH
ACN/ARSN
1. Details of substantial holder(1)
Name	DANIEL RONALD WATSON
ACN/ARSN (if applicable)
There was a change in the interests of the substantial holder on	06/01 /03
The previous notice was given to the company on	$-11/01/02$
The previous notice was dated	11/01/02

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 re evant interest (3) and a revant interest (3) in when la

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votesi	Voting power (5)
ORDINARY	9,710,200	7.13	11,801,285	8.1%

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 schen e, since the
substantial holder was last required to giv

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
06/01/03	BELMARK INVESTMENTS	PURCHASES	59.400	1,369,800	1,369,80
06/01/03	CHADMIN+	BURCHASES	39.600	.000.000
06/01/03	ID R WATSON R WATSON	SALES PUR HASES	(4 5.797) 30.734	(1,000,000) 721.285	721.28 i

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 vote
DANIEL R WATSON		BELMARK	DANIEL R WATSON	100%	10.000.000
DANIEL R WATSON		C H ADMINISTRATION				8.081
		+ D R WATSON	DANIEL R WATSON	100%	1,000,000
DANIEL R WATSON		D R WATSON	DANIEL R WATSON	100%	801,285 11.801.285

÷,

604 page 2 2 15 July 2001

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	Audress -------
'DANIEL RONALD WATSON	lst FLOOR. 50 GRENEELL STREET ADEL ATDE -54. 5000
	______ ______

Signature

print name	DANIEL R WATSON	capacity
sign here		meternative and constant structure in the case of date

DIRECTIONS

• $(1)$ If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and tn stee 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 re-arred 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 paragr uph 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• (5) Include details of:
• $(a)$ any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) 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, schen 3 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 disposal of the si curities to $(b)$ 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.

• $\sigma$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, ecom'e 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 perso if form whom the relevant interest was acquired.
• $(3)$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.