COMET RIDGE LIMITED — Director's Dealing 2012

May 23, 2012

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 30/09/01 Amended 01/01/11

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	17 June 2011

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.	Direct: As a director of StrategicConsultantsPtyLtdwhichholds2,908,000 ordinary sharesIndirect: 35,000 shares held on behalf ofRebecca Hamersley and 35,000 sharesheld on behalf of Samuel Hamersley(children of Gillian Swaby)
Date of change	24 May 2011
No. of securities held prior to change	2,978,000
Class	Ordinary fully paid shares
Number acquired	NIL

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number disposed
	2,908,000
Value/Consideration
Note: If consideration is non-cash, provide details and estimatedvaluation	AU$290,800
No. of securities held after change	Indirect: 35,000 shares held on behalf of
	Rebecca Hamersley and 35,000 shares
	held on behalf of Samuel Hamersley
	(children of Gillian Swaby)
Nature of change
Example: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan, participation in	On- Market Broker Transfer
buy-back

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.

	Nature of interest		N/A
	Name of reistered h	lder	N/A
	g(if issued securities)
	Date of change		N/A
	No. and class of sec	urities to which	N/A
	interest related priorNote: Details are only requi	o changered for a contract in
	relation to which the interest h	as changed
	Interest acquired		N/A
	Interest disposed		N/A
	Value/ConsiderationNote: If consideration is non	-cash provide details	N/A
	and an estimated valuation	,
	Interest after change		N/A
Part 3 –+Closed peri		od

Part 3 –[+] Closed period

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 3