30th April 2003


COMPLETION OF SALE OF RICHARDSON PACIFIC LIMITED (“RPL”)
TO LOCKER GROUP PTY LTD. (“LOCKER”)


On 1 April 2003 we announced that we had entered into an unconditional Share Sale Agreement with Locker to sell the entire issued share capital of RPL to Locker.

We further advised that Completion of the sale was scheduled for the end of April 2003. Following advice from Locker, we now anticipate the sale being completed by no later than the end of next week.



S.L. MASON
Company Secretary

30 April 2003

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