CEDAR WOODS PROPERTIES LIMITED — Director's Dealing 2007

Jul 1, 2007

PROPERTIES LIMITED

Level 4, 66 Kings Park Road, West Perth, WA 6005 PO Box 788 West Perth, WA 6872 T (08) 9480 1500 F (08) 9480 1599 www.cedarwoods.com.au ernail@cedarwoods.com.au ABN 47 009 259 081

2 July 2007

Australian Stock Exchange Limited Exchange Centre. Level 4. 20 Bridge Street Sydney NSW 2000.

Dear Sir / Madam,

Change of Alternate Director

We advise that Mr. Timothy Brown has replaced Mr. Stanley Brown as alternate director for Mr. Robert Brown.

The Board, management and staff would like to express their appreciation to Mr. Stanley Brown for his contribution to the Company over many years in his capacity as a shareholder, director and alternate director.

The Company is very pleased to welcome Mr. Timothy Brown as an alternate director.

Please find attached an Initial Director's Interest Notice for Mr. Timothy Brown and a Final Director's Interest Notice for Mr. Stanley Brown.

Yours faithfully,

Paul freed

Paul Freedman. Company Secretary

Appendix 3X

Rule 3.19A.1

Initial 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.

CEDAR WOODS PROPERTIES LIMITED
ABN 47 009 259 081

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	TIMOTHY ROBERT BROWN (ALTERNATE FOR ROBERT STANLEY BROWN)
Date of appointment	2 July 2007

Part 1 - Director's relevant interests in securities of which the director is the reaistered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Number & class of securities
NIL.

Part 2 – Director's relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of l interest Note: Provide details of the circumstances giving rise to the relevant interest.	Number & class of Securities
Westland Group Holdings Pty Ltd	4,755,776 ORDINARY SHARES
Mr Brown holds a beneficial interest in the above company.

⁺ See chapter 19 for defined terms.

Part 3 - Director's interests in contracts

Detail of contract	NIL
Nature of interest	NIL
Name of registered holder (if issued securities)	NIL
No. and class of securities to which interest relates	NIL

⁺ See chapter 19 for defined terms.

Appendix 3Z

Rule 3.19A.3

Final 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 CEDAR WOODS PROPERTIES LIMITED

ABN 47 009 259 081

We (the entity) give ASX the following information under listing rule 3.19A.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director	STANLEY BROWN (ALTERNATE DIRECTOR FOR ROBERT BROWN)
Date of last notice	25 April 2006
Date that director ceased to be director	25 June 2007

Part 1 - Director's relevant interests in securities of which the director is the registered holder 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.

Number & class of securities 50,000 ordinary shares

⁺ See chapter 19 for defined terms.

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

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.

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest	Number & class of securities
Beach Corporation Pty Ltd	$5,120,433$ ordinary shares
Westland Group Holdings Pty. Ltd	4,755,776 ordinary shares
Brown holds a beneficial Мr interest in the above companies.

Part 3 – Director's interests in contracts

Detail of contract	NIL
Nature of interest	NIL
Name of registered holder (if issued securities)	NIL.
No. and class of securities to which interest relates	NIL.

$+$ See chapter 19 for defined terms.