KINGSTREAM STEEL LIMITED(KSM)

shares regain quotation

timetable issued on 18 June by Midwest envisages that share trading on ASX will resume on 8 August 2003

name changed to Midwest Corporation Limited

the major reconstruction is underway and the company should be relisted shortly under its new name Midwest Corporation Limited

reorganisation of capital by way of consolidating every 100 fully paid ordinary shares in the capital of the company into one fully paid ordinary share

we understand that on or about this date the company consolidated its shares 1 for 100

announces it is in the process of preparing documents to convene a meeting of shareholders to ratify the relevant actions contemplated in the Reconstruction Deed (with Koolanooka Pellets Pty Ltd) which will among other things address all outstanding obligations under the ASX's listing rules

company enters into a Reconstruction Deed with Koolanooka Pellets Pty Ltd to facilitate the recapitalisation of the company and the requoting of it's securities on ASX

shareholders should refer to company announcements for KSM and subsequently Midwest Corporation at www.midwest.corp.au

this company is not delisted - while the shares were suspended from quotation on 27 Nov 2001 the administrator is keeping shareholders up to date with progress via www.asx.com.au

administrator advises he has agreed with the secured creditor that a restructuring proposal is to be put to the Committee of Creditors by no later than 30 Sep 2002

administrator advises sale agreement for the Tallering Peak Tenements had to be amended to incorporate a right to mine in order to resolve some legal issues

administrator advises Wandina Sheep Station is on the market to be sold by tender closing on 6 September 2002

conditions under the Mining Rights & Sale Agreement were met and settlement completed with $4.53m consideration received

administrators enter into agreement for the sale of the company's mining leases, an exploration lease, general purpose leases and miscellaneous licenses covering the Tallering Peak Iron Deposit for $4.6m.

creditors resolve to enter into a DOCA which essentially allows administrators to continue negotiations for the restructure of the company and/or a sale of its assets

administrators advise they have applied to the court and been granted an extension until 17 March 2002 to hold the second meeting of creditors

administrators call for expressions of interest for the restructure of the company or sale of its assets

M Woods and V Smith of Norgard Clohessy Chartered Accountants appointed joint and several administrators

securities suspended from quotation

name changed from An Feng Kingstream Steel Limited