Increase of Substantial or Relevant Interests

Tuesday, 20 May, 2003 - 22:00

Avatar Industries Limited

12/5/2003

Gabor Holdings Pty Ltd, increased its relevant interest from 17,559,090 ordinary shares (12.78%) to 34,271,261 ordinary shares (43.84%).

Portfolio Partners Ltd

14/5/2003

Portfolio Partners Ltd, increased its relevant interest from 21,477,280 ordinary shares (14.50%) to 23,444,669 ordinary shares (15.56%).

Mobilesoft Limited

8/5/2003

John M Gillon, Princess Nominees P/L & Tristania Holdings P/L, increased its relevant interest from 17,300,133 ordinary shares (15.83%) to 17,535,474 ordinary shares (16.05%).

Siberia Mining Corporation Limited

5/5/2003

Metal Holdings Pty Ltd, increased its relevant interest from 2,693,000 ordinary shares (11.46%) to 2,798,000 ordinary shares (11.91%).