CULLEN RESOURCES LIMITED — Director's Dealing 2003

Sep 25, 2003

Appendix 3Y

Rule 3.19A.2

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	Cullen Resources Limited
IABN	46 006 045 790

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	Denis Clarke
Date of last notice	23 May 2003

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	Indirect interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Shares held by Lindglade Enterprises Pty Ltd as trustee for Clarke Superannuation Fund and Mauncope Pty Ltd as trustee for Clarke Family Trust.
Date of change	10 September 2003
No. of securities held prior to change	4,239,383
Class	Ordinary
Number acquired	825,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$24,750
No. of securities held after change	5,064,383

⁺ See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Purchase

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
Nature of interest
Name of registered holder (if issued securities)
Date of change	÷
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed	۰
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation.
Interest after change	۰

$+$ See chapter 19 for defined terms.