COMET RIDGE LIMITED — Director's Dealing 2009

Jun 17, 2009

Appendix 3Y Change of Director’s Interest Notice

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	Jeffrey Warrington Schneider
Date of last notice	30 April 2009

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
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	N/A
Date of change	15 June 2009
No. of securities held prior to change	2,000,000 unlisted options exercisable at 30ceach expiring on 30 June 2012.2,832,276 Ordinary fully paid shares
Class	As above
Number acquired	566,456 Ordinary Fully Paid Shares
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	AUS$152,943.12

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	2,000,000 unlisted options exercisable at 30c
	each expiring on 30 June 2012.
	3,398,732 Ordinary fully paid shares
Nature of change	Participation in the Non Renounceable
Example: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Entitlement Offer of 1 New Share for each 5Existing Shares at an Issue Price of A$0.27
	per New Share.

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	N/A
which interest related prior to
change
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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002