ATLAS PEARLS LTD — Director's Dealing 2007

Oct 2, 2007

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ACN 009 220 053

3[rd] October 2007

The Manager Australian Stock Exchange Exchange Plaza 2 The Esplanade PERTH WA 6000

Dear Sir,

RE: Director’s Shareholding

Further to the announcement dated 12[th] September, the Board wishes to advise that the Chairman, Mr George Snow, will not be selling any further Atlas South Sea Pearl Ltd shares on the open market. Mr Snow’s combined holding of shares in the company is currently 13,899,373. The remaining shares will be held as a long term investment.

Yours faithfully,

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SIMON ADAMS Company Secretary

CRP01 Director's Interest Oct0307A.doc

43 York Street, Subiaco, WA 6008 Australia � PO Box 8015, Subiaco East, WA 6008, Australia TELEPHONE (61) (8) 9380 9444 � FACSIMILE (61) (8) 9380 9970 � WEBSITE http://www.atlaspacific.com.au � EMAIL atlas@atlaspacific.com.au