31 March 2008

Mr David Miller,
Information Centre
Australian Stock Exchange
Exchange Centre
Level 5, 20 Bridge St
SYDNEY NSW 2000

Dear Sir

Change to Unlisted Options

The current balances of unlisted options after issue of options to directors and employees are as follows:-

31st December 2011 – Directors’ unlisted options exercisable at 05 cents

Balance previously notified                                                                 1,500,000

31st December 2011 – Directors’ unlisted options exercisable at 07.5 cents

Directors’ options issued (as per AGM dated Nov 2006)                         3,250,000
Current Balance                                                                                3,250,000

31st December 2011 – Employee unlisted options exercisable at 07.5 cents

Balance previously notified                                                                 1,000,000
Employee options expired                                                                     500,000
Current Balance                                                                                   500,000

31st December 2012 – Employee unlisted options exercisable a 07.5 cents

Employee options issued                                                                       800,000
Current Balance                                                                                   800,000

Total of unlisted options 31 March 2008                                      6,050,000

Regards



Brett Young
Chief Operating Officer