ComputerCORP Exploration Update Fri, 3 Jul 2009 17:57:00 +1000       8 months, 3 weeks ago

ComputerCORP Limited (“ComputerCORP” or “the Company”) Announcement regarding non-renounceable rights issue 3 July 2009 Introduction Further to the Company's announcement dated 29 June 2009, the board of ComputerCORP is pleased to announce a non-renounceable entitlements issue to existing shareholders to raise up to $4,298,767 before costs (Rights Issue). Each eligible shareholder is being offered 1 new fully paid ordinary share (New Shares) for every 1 fully paid ordinary share held as at the close of business on the record date of the Rights Issue, being 14 July 2009. The New Shares will be offered at 4 cents per New Share.

The Rights Issue will be fully underwritten by TCB Investment Holdings Pty Ltd (Underwriter) subject to the terms of the Underwriting Agreement. The Underwriter is a company that is controlled by the Company's chairman, Mr Domenic Martino. Shareholders and other applicants may also subscribe for New Shares which are not taken up under the Rights Issue pursuant to a shortfall offer (Shortfall Offer).

The issue price of the New Shares offered pursuant to the Shortfall Offer will be 4 cents, being the same price at which the Rights Issue is being offered. Allocation of the New Shares under the Shortfall Offer will be subject to there being a Shortfall under the Rights Issue and will otherwise take place at the discretion of the Directors and the Underwriter. The Rights Issue will be extended to shareholders with registered addresses in Australia and New Zealand.

The Rights Issue is non-renounceable and entitlements under the Rights Issue will not be able to be traded. Timetable The anticipated timetable for the Rights Issue is as follows. Announcement of Rights Issue "Ex" date Record Date (to determine shareholders entitled to participate) Despatch of Offer Document Closing Date for Rights Issue Despatch of transaction confirmation statements 3 July 2009 8 July 2009 14 July 2009 16 July 2009 31 July 2009 7 August 2009 The above dates are indicative only.

Subject to the Corporations Act, the ASX Listing Rules and other applicable laws, the Company, in consultation with the Underwriter, reserves the right to change any of these dates without notice. This may include extending the Rights Issue, closing the Rights Issue early or accepting late applications, either generally or in particular cases. Use of funds The funds raised by the Rights Issue will be used partly to contribute to the funding of the purchase consideration ....