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Acquisitions

Abelle Ltd

26/02/03

Has negotiated an exclusive option to buy remaining interests in the Morobe GoldProject, PNG from its partners for US$10 million and the Grant of 12 million unlisted options to acquire shares in Abelle at A$1 per share at any time up to 30 June 2007.

Advantage Telecommunications Ltd

28/02/03

Has concluded the purchase of Pulse Telecom (Asia) for approximately A$165,000 in cash and approximately A$941,000 in scrip.

Aliquot Asset Management Ltd

28/02/03

Has reached agreement for the acquisition of its eighth Rent Roll for its Property Management business in Perth.  The Rent Roll comprises approximately 280 properties, and will be acquired from Porter Matthews Victoria Park for approximately $450,000.00

West Musgrave Mining Ltd

25/02/03

Due diligence in relation to the acquisition of Blair Nickel Mine Pty Ltd has been completed.

Xcell Diagnostics Ltd

25/02/03

Has concluded all necessary steps to acquire German group, Visiomed AG, for a combination of shares, options, deferred cash and royalties. As a result of the transaction, the ZN group becomes the largest shareholder in Xcell (19.9%).

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