CEDAR WOODS PROPERTIES LIMITED — Director's Dealing 2012

May 1, 2012

==> picture [175 x 192] intentionally omitted <==

2 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

==> picture [169 x 46] intentionally omitted <==

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.

Name of Director	WILLIAM G HAMES
Date of last notice	4 November 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	Direct and indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Mr Hames is a director and shareholder of JoiaHoldings Pty Ltd and Hamsha Nominees Pty Ltd.Mr Hames has voting rights over and a first rightof refusal to purchase the shares held by HKPoynton.
Date of change	30 April 2012
No. of securities held prior to change	Direct – 253,406Joia Holdings Pty Ltd – 1,062,351Hamsha Nominees Pty Ltd – 5,754,690HK Poynton – 2,014,439
Class	ORDINARY
Number acquired	Direct – 8,080Joia Holdings Pty Ltd – 33,873Hamsha Nominees Pty Ltd – 183,482
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Issue price of $3.45 per share under DividendReinvestment Plan (DRP) and Bonus Share Plan(BSP).
No. of securities held after change	Direct – 261,486Joia Holdings Pty Ltd – 1,096,224Hamsha Nominees Pty Ltd – 5,938,172HK Poynton – 2,014,439
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Shares acquired under the DRP – 217,355Shares acquired under the BSP – 8,080

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(if issued securities)	N/A
Date of change	N/A
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract in relationto which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

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