radar **gip*** and play, page-4

From the new issue.
(I should have taken them up. It was open for anybody)

COMPLETION OF FUNDRAISING ALLOTMENT OF SHARES AND OPTIONS

The Directors of Gippsland Limited ("Gippsland or "the Company") hereby announce
that the Placement Prospectus Gippsland lodged with the ASIC and the ASX on
5 August 2003 has been completed in full.
As announced on 26 August 2003, application monies received by the Company at
that date pursuant to the Prospectus totalled to $340,110.00 and the Company
subsequently issued and allotted 8,502,750 shares and 8,502,750 options thereby
raising $340,110.00 for the Company.
Since 26 August 2003, application monies received by the Company pursuant to the
Prospectus total to $219,890.00 and the Company shall issue and allot 5,497,250
shares and 5,497,250 options thereby completing the prospectus and the raising of
$560,000.00 for the Company.
Oversubscriptions to the value of $48,660 will be mailed to shareholders by
11 September 2003.
Yours sincerely