AUSQUEST LIMITED — Director's Dealing 2008

May 11, 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 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	Graeme Drew
Date of last notice	5 May 2008

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 interests
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Barbara Drew (spouse) and superannuationfund
Date of change	9 May 2008
No. of securities held prior to change	Direct :857,545 Unquoted 2008 Options250,000 Unquoted 2009 Options687,117 Quoted 2009 optionsIndirect :3,889,696 Ordinary fully paid shares250,000 Unquoted 2009 Options1,359,350 Quoted 2009 options1,000,000 Unquoted 2011 Options
Class	Ordinary shares
Number acquired	857,545
Number disposed	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

VN	VN
	VN	alue/Considerationt If idti i h id	dtil d titd l	ti	$0.20 c	ents per share
		e: conseraon s non-cas, prove	eas an esmae va	uaon
	N	o. of securities held after c	hange		Direct :857545	Ordinar full ai	d shares
					,250,000687,117Indirect38896	y y pUnquoted 2009Quoted 2009 op:6 Odi fll	Optionstionsid h
					,,250,0001,359,3	rnary uy pUnquoted 200950 Quoted 2009 op	a saresOptionstions
					1,000,0	00 Unquoted 2011	Options
	Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back				Issue of ordinary shares pursuant to theexerciseof857,545unlistedoptionsexercisable at 20 cents on or before 31August 2008.

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