CEDAR WOODS PROPERTIES LIMITED — Director's Dealing 2012

May 20, 2012

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21 May 2012

Company Announcements Office Australian Securities Exchange Limited 20 Bridge St Sydney NSW 2000 VIA ASX Online

Dear Sir / Madam

DIRECTOR’S INTEREST NOTICE

Please find attached a ‘Change of Director’s Interest Notice’ for Mr William Hames.

Yours sincerely

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Paul Freedman 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 : CEDAR WOODS PROPERTIES LIMITED ABN : 47 009 259 081

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.

	WILLIAM G HAMES
Name of Director
Date of last notice	2 May 2012

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	Direct and indirect
Nature of indirect interest	Mr Hames is a director and shareholder of Joia
(including registered holder)	Holdings Pty Ltd and Hamsha Nominees Pty Ltd.
Note: Provide details of the circumstances giving rise to the relevantinterest.	Mr Hames has voting rights over and a first rightof refusal to purchase the shares held by HK
	Poynton.
Date of change	18 May 2012
No. of securities held prior to change	Direct – 261,486
	Joia Holdings Pty Ltd – 1,096,224
	Hamsha Nominees Pty Ltd – 5,938,172
	HK Poynton – 2,014,439
Class	ORDINARY
Number acquired	Direct – 4,347
Number disposed	NIL
Value/Consideration	$15,000.00
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	Direct – 265,833
	Joia Holdings Pty Ltd – 1,096,224
	Hamsha Nominees Pty Ltd – 5,938,172
	HK Poynton – 2,014,439
Nature of change	Shares issued under the share purchase plan dated
Example: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	16 April 2012.

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	N/A
Nature of interest	N/A
Name of registered holder	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to which	N/A
interest related prior to change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration	N/A
Note: If consideration is non-cash, provide details and an
estimated valuation
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above	N/A
traded during a+closed period where prior written clearance was
required?
If so, was prior written clearance provided to allow the trade to	N/A
proceed during this period?
If prior written clearance was provided, on what date was this	N/A
provided?