SPIKE NETWORKS LIMITED (SPK)

name changed to Amerod Resources Limited

lodges half yearly report

the closing date for receipt of applications for securities under the recently issued Prospectus is extended by a period of 1 week to 7 March 2005

reorganisation of capital (whereby every 20 shares are consolidated into one share) becomes effective today

we understand that on or about this date the company consolidated its shares 1 for 20

all resolutions involving the reorganisation and recapitalisation of the company were passed at today's general meeting

issues prospectus to raise $3.5m

company has reached an agreement to purchase all of the issued capital of Amerod Resources Limited, a new nickel exploration company, the acquisition is conditional on a capital raising of $3m and shareholder approval - in due course the company will also change its name to Amerod Resources Limited

lodges Prelim Final Report & Annual Report

lodges Half Yearly Report & Half Year Accounts

extends date for holding AGM to 24 Dec 03

ASIC grants extension to hold AGM no later than 15 December 2003

company will raise $1m via a placement to clients of an existing shareholder and directors have appointed a small management group to look at business opportunities

seeking update

the company is seeking an injection of funds with a view to re-quotation at some point - the financial statements are being finalised and should reach shareholders within a month - the board's intentions for the company and the status and prospects of litigation will be explained and clarified at an AGM which will be held late September, early October

director confirms that actions as noted below (10 Jan 2003) are ongoing and there is nothing further to report at this stage

company advises directors are actively searching out new investment opportunities - any acquisitions will probably also involve a capital raising and shareholder approvals will be required

company advises it is seeking compensation, in conjunction with techpacific, from Mr Greentree as a result of his actions in failing to invest in the company contrary to his contractual obligations

company advises that following Mr Greentree's sudden and unanticipated withdrawal, neither techpacific nor the company were in a position to invest further working capital in Spike Limited to continue its business development - as a consequence, Spike Limited and its operating subsidiaries were placed in the hands of receivers in early July 2002 - the company therefore lost its remaining investment

company advises that the board of Spike Limited has appointed Messrs Sutton and Flynn of Ferrier Hodgson as the liquidators (later described as receivers) of Spike Limited and Spike (Japan) Limited, Spike (Singapore) Pte Limited and Spike (Hong Kong) Limited

operating subsidiary, Spike (Australia) Pty Limited appoints P Walker and M Donnelly of Ferrier Hodgson as administrators of that company

SPK considers that the capital reconstruction detailed in an earlier company announcement (of 8 May 2002) will not proceed

shares suspended from quotation