Further to the Company's release to ASX earlier today advising...

Further to the Company's release to ASX earlier today advising of the pending
appointment of Dr Geoff Raby to the Board of the Company, SmartTrans advises that,
subject to the commencement of Dr Raby’s appointment as a director, shareholder
approval and compliance with all other regulatory requirements, the Company has
agreed to issue to Dr Geoff Raby (or nominee) 20 million unlisted options in
SmartTrans on the following principal terms:
? Exercise price of 1.86 cents per option (based on recent trading prices on the
ASX), each exercisable for one share in the Company;
? The options will be exercisable as follows:
o As to one third within thirty days after the expiration of one year from
the date of issue;
o As to one third within thirty days after the expiration of two years from
the date of issue; and
o As to one third within thirty days after the expiration of three years from
the date of issue;
? Exercise of each tran