WEST AUSTRALIAN METALS LTD(WME)

name changed to Marenica Energy Ltd

we understand that on or about this date the company made an in specie distribution of 4 shares in Astop Biohealth for every 115 shares in the company

following approval by shareholders of West Australian Metals Limited (WME) at the General Meeting held on 28 November 2003, a demerger of Austin Engineering Ltd occurred by way of a capital reduction - the demerger happened on 8 December 2003 - the capital reduction was effected by an in specie distribution of WME's ownership interests in Austin to WME shareholders - the result of the demerger is that WME shareholders own shares in both WME and Austin - WME shareholders received two Austin shares for every nine WME shares owned - WME shareholders must spread their original cost base for their WME shares over their WME shares and the new Austin shares, on the basis of the relative market values of those shares - the apportionment should be done on the basis that Austin represents 14.591% of the value of WME at the time of the demerger

we understand that on or about this date the company demerged Austin Engineering Limited by way of a 2 for 9 distribution - the Demerged Entity represented 14.591% of the market value of the group as a whole immediately after the demerger

we understand that on or about this date the company made a capital return of 4 cents per share

name changed from West Australian Metals NL