SHAREHOLDER MEETING LETTER
Dated: 2 June 2003

4 June 2003

Dear Shareholder

Within the last couple of days, you will have received a letter from me, outlining a number of open meetings for shareholders, in Adelaide, Sydney and Melbourne.

At the time that letter was sent out, we had not been able to finalise details for a meeting to be held in Brisbane. I am now pleased to be able to inform you that a Brisbane meeting has now been arranged and will be held on Monday 16 June 2003 at the Australian Stock Exchange, 123 Eagle Street, Brisbane 4000. The meeting will commence at 12.45pm and should last around 45 minutes.

I urge you to try to attend this meeting as it will provide an opportunity for you to hear first hand all the work we have been undertaking and our future plans. I believe that an open meeting provides a much better opportunity for shareholders to gain a full understanding of our progress, relative to written forms of communication.

I hope you will be able to attend the meeting and look forward to seeing you.

Yours faithfully

G T Galt
Managing Director

For further information:

Gordon Galt
Managing Director