KOALA CORPORATION AUSTRALIA LIMITED (ASX.KLA)

name changed to Magnetica Limited

lodges notification of change of name (to Magnetica Limited), which was effected on 24 May 2005 - we are not sure why ASX does not process a change of name when it occurs

Magnetica Limited (we will reflect the new name when ASX shows it) today announced it had signed an Alliance Agreement with Japan Superconducting Technology Inc, a leading Japanese manufacturer of superconducting magnet systems and of superconducting wire used in NMR and MRI systems

all of the resolutions considered at today's General Meeting have been passed, which included changing the name of the Company to Magnetica Limited - this should clear the way to completing the planned restructuring of the Company and the reinstatement of the shares

a general meeting will be held at the Level 5, ASX Lecture Theatre, Riverside Centre, 123 Eagle Street, Brisbane, Queensland on 20 May 2005 at 1.00pm - the company is currently progressing due diligence and prospectus preparation with the view to the issuing of a prospectus for a public capital raising in or about June 2005 - it is likely to be in the range of 25,000,000 to 35,000,000 shares issued at an issue price of 40 cents per share - this will facilitate the re-quotation of the company's shares on the ASX

following the issue of 11,266,250 ordinary shares on 5 January 2005, the recent issue of 3,733,750 shares completes the issue of 15,000,000 Seed Shares, at 26.667 cents per share, to raise $4,000,000 of working capital for the Company

company advises of the 2,678,750 offered in the share buyback by the Company, acceptances totalling 2,186,264 shares were received - consequently 2,186,264 shares have been acquired by the company for $583,011.05 and these shares have subsequently been cancelled

company makes an offer to its shareholders to buy back up to 25% of each shareholders post consolidation shareholding at a price of 26.667 cents per share

company confirms the agreements in respect of Magnetic Resonance Technologies have now been terminated, the facility provided to a subsidiary of the company by NAB has been discharged and the company has now issued 25,000,000 shares to UniQuest Pty Ltd and in return has acquired a 100% interest in the Asymmetric Magnet Technology and an option to acquire rights to the Compact Magnet Technology - this should eventually lead to the reinstatement of the shares of the Company to quotation on ASX

company advises of changes to its capital structure effected on 5 January 2005: 1. A consolidation of the existing ordinary shares on a 15.4 : 1 basis, reducing the number of ordinary shares from 165,013,804 to 10,715,214. 2. Issue 25,000,000 ordinary shares to Uniquest Pty Limited to acquire certain rights in respect of an asymmetric MRI technology. 3. Issue 11,266,250 ordinary shares to raise working capital for the Company

at AGM today resolutions were passed clearing the way for the planned restructuring of the Company and reinstatement to quotation of its shares - company will progress a consolidation of shares on the basis that every 15.4 existing fully paid ordinary shares will be consolidated into 1 fully paid ordinary share - a buy-back of shares by the Company of up to 2,678,795 shares at a price of 26.66 cents per share will also occur

calls AGM for 23/12/04 to seek shareholder approval for a proposal to raise capital and restructure its technology interests

announces it has completed the sale of property and tourism related assets and is well advanced in its restructuring to become a medical technology company

this company's shares have not traded since 2001 - last year it suffered a loss of $5.2m, a cash outflow from operating activites of $2.7m and it had a huge negative net tangible asset position

AGM called for 20 February

the company failed to lodge its half yearly financial statements on time and ASIC has taken action to prevent the company from using the limited disclosure regime when raising money

shares suspended from quotation

name changed from Asean Limited