CULLEN RESOURCES LIMITED — Board/Management Information 2006

Nov 2, 2006

CULLEN RESOURCES LIMITED

A.C.N. 006 045 790 ABN 46006045790

Level 4. 118 Christie Street St Leonards NSW 2065 P.O. Box 23, St. Leonards, 1590, Australia Telephone: (612) 9437 4588 Fax: (612) 9437 4599 Email: info@cullenresources.com.au Website: www.cullenresources.com.au

3 November 2006

ASX Announcement

Management Changes

The Board is pleased to announce changes to the management of Cullen:

• Dr Chris Ringrose, Cullen's Exploration Director, was appointed Managing Director. $\bullet$ . effective 1 November 2006;
• Messrs John Horsburgh and Grahame Hamilton, both Executive Directors, became $\bullet$ . Non-Executive Directors, effective 1 November 2006. John and Grahame, joined Cullen in 1999, and subsequently lead its development as executive directors. They will continue to play a substantial role in Cullen's future development as nonexecutive directors and consultants to the Company.

The management reorganization reflects the Board's support of Dr Ringrose's initiatives in project generation and a decision to concentrate the Company's operations out of its office in Perth where Dr Ringrose is resident.

Dr Denis Clarke, Cullen's Chairman, said: "The reorganization simplifies Cullen's management structure and focuses the Company's technical resources directly upon the generation of new projects to enhance the Company's existing portfolio of quality exploration projects"

Dr D E Clarke Chairman

Cullen is a multi-commodity exploration company with a portfolio of properties across Australia. The Company currently has Joint Ventures with major resource companies for iron, nickel, and gold exploration. The Company also maintains an active project generation programme Australia-wide from offices in Perth and Sydney.

For further information contact:

Dr Denis Clarke 0419020856 or Dr Chris Ringrose 0439843756