Data & Commerce Ltd


Has received and accepted a Management Buy Out proposal for the Commcord Communications Pty Ltd subsidiary from parties associated with its management. The terms involve the receipt by the board of an Independent Expert's report examining the fairness of the transaction, Shareholder Approval at the next meeting of shareholders and the receipt by the Company of $1,100,000.


Flexi Property Fund


Contract has been exchanged for the sale of 146 Arthur Street, North Sydney to Valad Property Group. Settlement is expected to be the 23rd June 2003.


Golden State Resources Ltd


Has entered into a Share Sale Agreement with The I-Bank Trust, to sell part of the Company's shareholding in Ezyimage Ltd. Golden State will sell 7,763,076 Ezyimage shares, which represent 40% of its holding in Ezyimage, for a consideration of $400,000. Golden State's holding prior to this sale represented 32.7% of Ezyimage's issued capital.

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