COMET RIDGE LIMITED — Director's Dealing 2007

Apr 16, 2007

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 Lydyard
Date of last notice	30/03/07

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 relevant interest.	A&C Lydyard ATF Indian Hills Trust which A Lydyard is a beneficiary
Date of change	12/4/07
No. of securities held prior to change	A&C Lydyard ATF Indian Hills Trust 4,125,000 Ordinary Fully Paid shares ۰ 1,500,000 Unlisted Options ۰ 37,500 Listed Options exercisable at 40 cents $\blacksquare$ expiring 29 June 2007 Andrew Lydyard 1,500,000 Unlisted Options exercisable at 45 cents expiring 31 December 2009 Cheryl Lee Lydyard 25,000 Ordinary Fully Paid shares
Class	Ordinary Fully Paid Shares
Number acquired	Nil
Number disposed	25,000
Value/Consideration Note: if consideration is non-cash, provide details and estimated valuation	\$6,717

No. of securities held after change	A&C Lydyard ATF Indian Hills Trust 4,125,000 Ordinary Fully Paid shares 1,500,000 Unlisted Options 羃 37,500 Listed Options exercisable at 40 cents ۰ expiring 29 June 2007 Andrew Lydyard 1,500,000 Unlisted Options exercisable at 45 cents expiring 31 December 2009
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	Sale on market