KAEFER TECHNOLOGIES LIMITED(KAE)

name changed to KTL Technologies Limited

completes non-renounceable entitlements issue

the main purpose of today's meeting is "firstly to satisfy the Company's formal requirements, and secondly to pave the way for KTL to re-list its securities" - all resolutions considered at the General Meeting held today were passed unanimously on a show of hands

company advises that it has received proxies for approximately 61% of shares issued, with no proxy voting against any of the 11 resolutions to be considered by shareholders on Friday 29 July 2005 - the company expects to issue shares by 5 August 2005, with trading of shares to commence on 12 August 2005

KTL Technolgies advises that all outstanding funds for the Shortfall Securities have been deposited into the Company's trust account

KTL Technolgies calls an Annual General Meeting for Friday 29 July 2005 and lodges 2004 annual report

shares were scheduled to be allotted and holding statements were due to be despatched on 6 June 2005 to allow trading of shares to commence on 14 June 2005 - the Company is still to receive funds for the Shortfall Securities and as such, has changed the timetable - the Underwriter has confirmed that it has the funds for the Shortfall Securities but due to unforseen exchange control problems, the Underwriter has not yet been able to remit the funds - the Company has been advised that the Underwriter anticipates resolution of the exchange control problems and subsequent remittance of the funds by 30 June 2005

advises that the offer as described in the Prospectus dated 1 March 2005 and Supplementary Prospectus dated 12 May 2005 closed on 27 May 2005 - shareholders applied for a total of 21,183,904 shares out of a possible 190,018,433 shares - the company has notified the Underwriter that Shortfall Securities amount to 168,834,529 shares for a total underwritten amount of $1,688,345.29 - so where to from here? is the underwriter going to make up the shortfall? - call Barry Woodhouse on 0438 674 259 if you have questions

issues a Supplementary Prospectus that should be read in conjunction with the original prospectus dated 1 March 2005

company advises that the Prospectus dated 1 March 2005 will be sent to shareholders on 12 May 2005 - it also re-iterates that reinstatement of its shares (scheduled for 14 June 2005) is subject to satisfaction of ASX conditions

company advises of an amendment to the timetable for the Entitlements Issue Prospectus and subsequent reinstatement of the Company's shares to official quotation - the Company also advises that the Prospectus dated 1 March 2005 has yet to be sent to shareholders as the Company is awaiting clarification of certain outstanding matters

the Deed of Company Arrangement has been wholly effectuated, therefore removing the Company from external administration - control of the company reverts to directors

company confirms that as approved by shareholders on 4 March 2005, the Company's name has been changed from Kaefer Technologies Limited to KTL Technologies Limited

the resolutions considered at the General Meeting held today were passed on a show of hands - a new constitution was also issued today - shareholders also approved the consolidation of the capital of the Company on a '5-for-3' basis, on the "ex" date of 4 March 2005 (do they mean 3 for 5??)

issues timetable for the consolidation of shares and the entitlement issue to 190m shares

lodges Full Year Accounts

lodges half yearly report and accounts

AGM to be held on 4 March 2005

approval obtained for the extension of time to hold AGM to 28/02/05

administrator announces developments regarding the sale of shares, sale of assets and restructuring of the company

Takeover Panel gives its reasons for not conducting proceedings in relation to the application per note of 12 May 2004 below

administrator reaches agreement that will essentially see the assets sold, payment in full to creditors and sale of the shell of the company - the outcome for shareholders is very likely to be that they will receive nothing

ASIC approves request for an extension of time to hold AGM - administrator applied for this on the basis that there may be a shortfall to creditors and perhaps shareholders do not have an economic interest

Takeover Panel announces that it has decided not to conduct proceedings in relation to the application per note of 12 May 2004 below

Takeover Panel announces that it has received an application from shareholders of KAE who allege that unacceptable circumstances arise in relation to a proposed selective capital reduction and the placement of KAE into voluntary administration - the applicants allege that the major shareholder of KAE, Kaefer Isoliertechnik GmbH (KIG), and the KAE board have together undertaken a series of actions to enable KIG to obtain control of KAE without making a takeover bid - the Panel has not yet decided whether to conduct proceedings in relation to the application

shares suspended

company appoints administrators (JL Herbert and CS Rocke of PPB) following the recent "rejection of the proposed selective capital reduction by minority shareholders" - reconstruction options are to be considered

name changed from Bains Harding Limited