Update on Non-Renounceable Options Issue

Range Resources Ltd
                                                             ABN 88 002 522 009

                                                            34 Parliament Place
                                                             West Perth WA 6005

                                                                     PO Box 684
                                                             West Perth WA 6872

                                                             P: [phone]
                                                             F: [phone]

                                                    [e-mail]

04 December 2007

NON-RENOUNCEABLE ENTITLEMENT ISSUE

The Board of Range Resources Limited advises that Application Forms for
13,330,027 Entitlement Issue Options out of a total of 24,430,003 raising
approximately $133,300 were received pursuant to the Company's 1 for 8
Non-Renounceable Entitlement Offer to Shareholders dated 1 November 2007.

In addition Application Forms for 54,855,872 Placement Options out of a total
of 69,185,660 raising approximately $548,559 were received pursuant to a
Placement Offer to holders of Listed Options as at 1 August 2007.

As detailed in the Prospectus dated 1 November 2007, the shortfall for the
Placement Offer will be offered to persons who acquired Listed Options between
2 August 2007 and 13 September 2007. There will not be any allocation of any
shortfall of the Non-Renounceable Entitlement Offer.


MICHAEL POVEY
Managing Director


For enquiries, please contact:

Range Resources Ltd.          RFC Corporate Finance    Fox-Davies Capital      
                                                                               
                              (Nominated Adviser)      (Broker)                
                                                                               
Peter Landau                  Stuart Laing             Daniel Fox-Davies       
                                                                               
+ 61 8 9488 5200              [phone]          [phone]     
                                                                               
www.rangeresources.com.au