COMET RIDGE LIMITED — Director's Dealing 2004

May 5, 2004

6 May 2004

Company Announcements Office Australian Stock Exchange Limited 10^th Floor 20 Bond Street SYDNEY NSW 2000

Dear Sir

APPENDIX 3Y - CHANGE OF DIRECTOR'S INTEREST NOTICE

Please find Appendix 3Y - Change of Director's Interest Notice for Andrew John Lydyard.

Yours faithfully COMET RIDGE LIMITED

Sespety

Gillian Swaby Company Secretary

Attachments

Comet Ridge Limited ACN 106 092 577

Level 10, International House 26 St George's Terrace, Perth, Western Australia 6000

61 8 9225 7108 Phone: Facsimile: 61 8 9225 4448

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	Comet Ridge Limited
ABN	47 106 092 577

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	Andrew John Lydyard
Date of last notice	16/04/2004

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

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.	Cheryl Lee Lydyard (Spouse)
Date of change	06/05/2004
No. of securities held prior to change	900,000
Class	Ordinary Fully Paid
Number acquired	20,000
Number disposed	N/A
Value/Consideration Note: If consideration is non-eash, provide details and estimated valuation	\$3,232.95
No. of securities held after change	920,000
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

^÷ See chapter 19 for defined terms.

Part 2 - Change of director's interests in contracts $N/A$

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
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-eash, provide details and an estimated valuation
Interest after change

$\div$ See chapter 19 for defined terms.