COMET RIDGE LIMITED — Director's Dealing 2009

Jan 11, 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	Andrew Lydyard
Date of last notice	12 September 2008

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.		A&C Lydyard ATF Indian Hills Trust inwhich A Lydyard is a beneficiary
Date of change		31 December 2008
No. of securities held prior to change		Direct1,500,000 unlisted options exercisable at 45cexpiring on 31 December 2009Indirect3,625,000 Ordinary fully paid shares1,500,000 unlisted options exercisable at 20cexpiring 31 December 2008
Class		Unlisted Options
Number acquired		NIL
Number disposed		NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation		NIL

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

==> picture [433 x 240] intentionally omitted <==

----- Start of picture text ----- No. of securities held after change Direct1,500,000 Options exercisable at 45cexpiring on 31 December 2009Indirect3,625,000 Ordinary SharesNature of change Options ExpiredExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back----- End of picture text -----

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 towhich interest related prior tochange	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002