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re: + research report by martin place + MARTIN PLACE SECURITIES INVESTMENT RESEARCH REPORT

"Martin Place Securities has released an Investment Research Report on Summit Resources Limited (“the Company”). Martin Place Securities Pty Limited, a Sydney based Licensed Dealer in Securities (AFSL 247 404), released and distributed copies of the Report on 18 November 2004.

The Report is also being made available on Summit Resources Limited’s web site (www.summitresources.com.au).

The Company generally agrees with the Report’s content and conclusions drawn, however the Report is not a Summit Resources Limited document, or release, and the Australian (“ASX”) and New Zealand (“NZX”) Stock Exchanges are being advised of the report by the Company in accordance with the Company’s Corporate Governance principles, in the interests of maintaining a fully informed market and ongoing disclosure requirements".