BLACKWALL LIMITED — Director's Dealing 2011

Nov 8, 2011

9 November 2011

Company Announcements Office Australian Stock Exchange Level 4 20 Bridge Street Sydney NSW 2000

Amended Appendix 3Y

Please find attached amended Appendix 3Y reflecting the correct "date of change" for the Appendix 3Y lodged yesterday.

Yours sincerely

Don Bayly Company Secretary

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 30/09/01 Amended 01/01/11

Name of entity: BlackWall Property Funds Limited
ABN: 37 146 935 131

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	JR(Seph)Glew
Date of last notice	20 October 2011

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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Freymas Project Management Ltd‐ (Director has relevant interest pursuant to shareholding.) 8,000 shares acquired in IPO.
	Seno Management Pty Ltd <seno superFund>(Director is a director and beneficiary of super fund). 50,000 shares purchased on market.
	Seno Management Pty Limited <taipa Trust> 47,843 shares purchased on market.</taipa
Date of change	3rd November to 8th November 2011
No. of securities held prior to change	7,463,586
Class	Ordinary Shares
Number acquired	105,843
Number disposed	NIL

⁺ See chapter 19 for defined terms.

Value/Consideration Note: If consideration is non‐cash, provide details and estimated valuation	\$17,215
No. of securities held after change	7,569,429
Nature of change Example: on‐market trade, off‐market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy‐ back	On Market Trade

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	Not Applicable
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

Part 3 – +Closed period

⁺ See chapter 19 for defined terms.

Were the interests in the securities or contracts	No
+closed detailed above traded during a period
where prior written clearance was required?
If so, was prior written clearance provided to allow
the trade to proceed during this period?
If prior written clearance was provided, on what
date was this provided?

⁺ See chapter 19 for defined terms.