COMET RIDGE LIMITED — Director's Dealing 2010

Jan 3, 2010

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	Gillian Swaby
Date of last notice	15 June 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 and Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	35,000 shares held on behalf of RebeccaHamersley and 35,000 held on behalf ofSamuel Hamersley (Children of G Swaby)
	. .
Date of change	31 December 2009
No. of securities held prior to change	4,908,000 ordinary Fully Paid Shares500000 Unlisted Options exercisable at 419
	, .cents expiring 31 December 2009
Class	Ordinary Fully Paid Shares
Number acquired
Number disposed	500,000 Unlisted Options
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Nil
No. of securities held after change	4,908,000

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of Expiry of unlisted options as at 31 December securities under dividend reinvestment plan, participation in buy-back 2009.

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	Not Applicable
Nature of interest	Not Applicable
Name of registered holder(if issued securities)	Not Applicable
Date of change	Not Applicable
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	Not Applicable
Interest acquired	Not Applicable
Interest disposed	Not Applicable
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	Not Applicable
Interest after change	Not Applicable

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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