Convertible Note

Document date:  Wed 03 Jul 2002
Published:  Wed 03 Jul 2002 14:51:59
Document No:  218928
Document part:  A
Market Flag:  N
Classification: 

ASPERMONT LIMITED.                            2002-07-03  ASX-SIGNAL-G

HOMEX - Perth                                                         

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The Directors of Aspermont Limited are pleased to announce the
conditional placement of a Convertible Note for $1,000,000 with
Drysdale Investment Limited, a company associated with the Chairman
of Aspermont Limited, Mr Andrew Kent.

The funds raised will be used for working capital, on-going product
development and to provide for contingent liabilities.

The main terms of the convertible note are: -

* Term of three years 
* Interest rate of 10% payable quarterly in arrears 
* Convertible to ordinary shares at 5c
* Issue of 1 option for every 5 shares converted.
* The options can be converted to ordinary shares at a price of 10c
* The options expire on the 30th June 2005

The note is conditional on final agreements and the approval of
shareholders at a general meeting to be convened in September 2002.

The placement of this Convertible Note shows great confidence in the
future of Aspermont. It will ensure that the Company has sufficient 
funds for future business development while still maintaining focus on
increasing the profitability of its existing publishing business.

For further information please contact:

Elissa Samuel 
INVESTOR RELATIONS MANAGER 
Aspermont Limited 
Ph: +618 9387 9100 
Email: elissa@aspermont.com