OFFER CLOSED 6 SEPTEMBER 2002

Prospectus Summary.

Reedy Lagoon Corporation Limited lodged a Prospectus with the Australian Securities & Investment Commission ("ASIC") on the 14th June 2002. The Prospectus was for the initial public offering of 14,000,000 shares at an issue price of $0.30 each, and 7,000,000 attaching options, to raise $4,200,000. The offer closed under-subscribed on the 6th September 2002