EASTERN CORPORATION LIMITED 2003-05-12 ASX-SIGNAL-GHOMEX -...

EASTERN CORPORATION LIMITED 2003-05-12 ASX-SIGNAL-G

HOMEX - Brisbane

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On 26 February 2003 the Company announced that it intended to proceed
with the sale of holdings of 15,000 shares or less unless otherwise
notified by shareholders.

Following expiry of the notice period the Company arranged sale of
the shares on-market. Proceeds have now been received and cheques
will be posted to individual shareholders on 14 May 2003.

Final details of the buy-out are:

Sale price: 5.376226 cents per share (average)

Total number of shares: 3,261,341

Number of shareholders: 506

B Lyne
COMPANY SECRETARY