AusQuest Ltd - 01.Apr.05

Has reached in principle agreement with Hartleys Ltd to place 26,923,000 shares at an issue price of $0.13 per share to raise approximately $3.5 million.

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6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
10th-The University of Notre Dame Australia6,708
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