The Directors of Croesus are pleased to announce a proposed...

The Directors of Croesus are pleased to announce a proposed capital
return to shareholders of 2 cents per share to be paid in January
2003. The Company's current strong cash position of over $20 million
and the continued forecast strong cashflows from our operations
should provide adequate reserves to continue our aggressive
exploration, development and acquisition objectives.

Shareholders will be asked to vote on the proposed capital return at
the Croesus annual general meeting to be held in Kalgoorlie on the
1st November 2002.