ARIKA RESOURCES LIMITED — Director's Dealing 2008

Apr 22, 2008

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity: Portland Orthopaedics Limited

ABN : 92 086 839 992

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	John Lee
Date of last notice	15/03/07

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.
Date of change	17thApril 2008
No. of securities held prior to change	50,000
Class	ordinary
Number acquired	66,667
Number disposed	0
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$5,000
No. of securities held after change	116,667

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Issue of Securities Under Share Purchase Example: on-market trade, off-market trade, exercise of options, issue of Plan securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	n/a
Nature of interest	n/a
Name of registered holder	n/a
(if issued securities)
Date of change	n/a
No. and class of securities to	n/a
which interest related prior to
change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired	n/a
Interest disposed	n/a
Value/Consideration	n/a
Note: If consideration is non-cash, provide details and
an estimated valuation
Interest after change	n/a

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002