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Decrease of Substantial or Relevant Interests

Giants Reef Mining Ltd

28/5/03

Commonwealth Bank of Australia decreased its relevant interest from 79,810,518 fully paid ordinary shares (12.81%) to 78,610,518 fully paid ordinary shares (11.72%).

Pan Palladium Ltd

14/5/03

H & W Murphy (The Murphy Investment Trust) decreased its relevant interest from 17,000,000 ordinary shares (35.56%) to 9,450,000 ordinary shares. (12.61%)

Siberia Mining Corporation Ltd

21/5/03

Mineral Securities Ltd decreased its relevant interest from 3,000,000 ordinary shares (12.77%) to 2,000,000 ordinary shares (8.51%).

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