RMG Reassures

Phew, well that's alright then. Ahh, just one thing though. Umm, why did the CEO AND the CFO both have to leave in such a rush ?

Pressing personal business ? Pursuing other career opportunities perhaps ? Couple of embarrassing photos with a sheep at the office Christmas Party ? Surely they both didn't get the axe just because the merger of acquisitions was taking so long ?

And even Mr Boult would have to agree that having 70% knocked off your market cap suggests that the market is a tad suspicious that there is something not being talked about hidden in the broom closet ?

Come on, this looks like a potentially great company - lets just get it out in the open and move on.

RMG LIMITED 2002-06-05 ASX-SIGNAL-G

HOMEX - Melbourne

+++++++++++++++++++++++++
Listed Receivables Management company, RMG Ltd, today moved to
reassure investors about the progress of its restructuring.

"While our position has not altered materially since our recent
announcement, continuing speculation and comment makes it appropriate
for the Directors to issue a statement today," saidExecutive
Chairman, Jim Boult.

The Company confirms that is has no outstanding issues in its
dealings with its bankers, ANZ Bank. "We have a continuing and
adequate funding facility for our operations going forward, on normal
commercial terms and conditions," says Mr Boult. "Like any such
facility it is subject to a standard review structure, as is
consistent with ordinary banking practices."

Furthermore the company's financial position was sound, he said, and
recent trading has been in accordance with the Director's
expectations. "Our customer base remains robust and we are making
good progress in attracting new customers."

Mr Boult also commented that the company's restructuring was
continuing satisfactorily. "We have completed an initial round of
restructuring and we are now reviewing our ongoing activities with a
view to identifying areas in which we can achieve further efficiency
and productivity gains without reducing the range, qualityor levels
of service that we provide.

"We will continue to work diligently to restore profitability and
meet shareholders future expectations."


For further information:

Jim Boult
EXECUTIVE CHAIRMAN
Tel: 61 3 9320-0103