MONARCH RESOURCES LIMITED

62 Colin Street West Perth, Western Australia 6005 Telephone: 61-8 9321 3633 Facsimile: 61-8 9321 3644

4 February 2003

Manager Announcements Company Announcements Office Australian Stock Exchange Limited Level 4 20 Bridge Street SYDNEY NSW 2000

FACSIMILE: 1300 300 021 (3 PAGES)

Dear Sir/Madam

APPOINTMENT OF DIRECTOR

The Board of Directors of Monarch Resources Limited ("Company") is pleased to announce that Mr Phillip Botsis has been appointed as a non-executive director of the Company.

Mr Botsis is Managing Director of Ledge Finance Limited and has over 25 years business experience in finance and investment. He is a member of the Institute of Company Directors.

In accordance with ASX Listing Rule 3.19A please find enclosed an Initial Director's Interest Notice (Appendix 3X) on behalf of Mr Botsis.

Yours faithfully

FRANK C Company Secretary

Rule 3.19A.1

Appendix 3X

Initial Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Part 1 - Director's relevant interests in securities of which the director is the registered holder In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Part 2 - Director's relevant interests in securities of which the director is not the registered holder In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

• See chapter 19 for defined terms.

Part 3 - Director's interests in contracts

$+$ See chapter 19 for defined terms.