RNS Number:0130O
Reefton Mining N.L.
28 July 2003


                               REEFTON MINING NL

        ALLOTMENT AND ISSUE OF PLACEMENT SHARES AND CONTRIBUTING SHARES

The Directors are pleased to advise that a placement of 9,595,454 fully paid
ordinary shares and 9,595,454 contributing shares pursuant to a prospectus dated
30th June 2003 has been completed. The placement has raised AUS$527,750 before
deducting the costs of the issue.

Accordingly, the Directors have today proceeded to allot and issue the above
securities, which will be entered into uncertificated holdings today. Holding
statements will be despatched on or before 29th July 2003.

Dealings in the 9,595,454 fully paid ordinary shares are expected to commence on
AIM tomorrow, 29 July 2003.




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