Options on Issue

Under the Prospectus dated 6 November 2007, for each share issued, shareholders were issued 1 Option to subscribe for a Share at an exercise price of $1.00 exercisable by 17 June 2009.  The Options listed on the ASX 11 January 2008 and trade under the code WAAO.

The Prospectus has been included for reference purposes.

The Terms & Conditions attaching to each Option are detailed in the attached doument.

To exercise all or any of your Options you will need to complete the Notice of Exercise of Options form which is included at the end of the Terms & Conditions document.  Completed forms should be sent to:

Registries Limited
GPO Box 3993
Sydney NSW 2001

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