CADOUX LIMITED — Director's Dealing 2005

Mar 10, 2005

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 Solbec Pharmaceuticals Ltd
ABN	85 061 289 218

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	Stephen Carter
Date of last notice	5 October 2004

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

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Pearlcove Investments Ltd Safe Harbour Superannuation Fund
Date of change	11 March 2005
No. of securities held prior to change	1,202,058 Fully paid Shares 1,500,000 unlisted Options 1,386,686 Options 1,500,000 Directors Options
Class	Options & Shares
Number acquired
Number disposed	50,000 shares
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$7,500
No. of securities held after change	1,238,300 Fully Paid Shares 1,500,000 Unlisted Options 1,185,414 Options 1,500,000 Directors Options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Sold on market. Note: Securities after changes have been corrected due to previous error.

⁺ See chapter 19 for defined terms.

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

Part 2 - Change of director's interests in contracts

$+$ See chapter 19 for defined terms.