AUSQUEST LIMITED — Director's Dealing 2008

May 4, 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	29 January 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 indirect 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	2 May 2008
No. of securities held prior to change	Direct :857,545 2008 Options250,000 Unquoted 2009 Options687,117 Quoted 2009 optionsIndirect :3,032,151 Ordinary fully paid shares857,545 2008 Options250,000 2009 Options1,359,350 Quoted options1,000,000 2011 Options
Class	Ordinary shares
Number acquired	857,545

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number disposed	Nil
Value/Consideration	$0.20 cents per share
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	Direct :
	857,545	2008 Options
	250,000	Unquoted 2009 Options
	687,117	Quoted 2009 options
	Indirect :
	3,889,696	Ordinary fully paid shares
	250,000	2009 Options
	1,359,350	Quoted options
	1,000,000	2011 Options
Nature of change	Issue of	ordinary shares pursuant		to the
Example: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	exerciseof857,545exercisable at 20 cents		unlistedoptionson or before 31
	August 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