AUSQUEST LIMITED — Director's Dealing 2007

Aug 29, 2007

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 AUSQUEST LIMITED ABN 35 091 542 451

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 Innes
Date of last notice	20 December 2006

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	Change in direct and indirect interests
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Traist P/L (atf The Innes Family Trust) ofwhich John Innes is a Director, the InnesSuper Fund and L. Innes.
Date of change	29 August 2007
No. of securities held prior to change	Indirect :3,349,590 Ordinary fully paid shares1,000,000 2007 Options125,000 unquoted 2009 options2,283,811quoted 2009options
Class	•Unlisted Aug 2007 options ex. at 20c•Ordinary shares
Number acquired	1,000,000 ordinary shares
Number disposed	1,000,000 options exp 31 Aug 2007
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$200,000 (exercise 1,000,000 options at 20cents)
No. of securities held after change	Indirect :4,349,590 Ordinary fully paid shares125,000 unquoted 2009 options2,283,811quoted 2009options

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Nature of change	Exercise of 1,000,00 unlisted Aug 2007
Example: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	options

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002