CYCLOPHARM LIMITED — Director's Dealing 2009

Nov 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 CYCLOPHARM LIMITED ABN 74 116 931 250

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	Vanda Russell Gould
Date of last notice	19/10/2009

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		Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving riseto the relevant interest.		Stinoc Pty Limited (Director)
Date of change – acquisition		10 November 2009
No. of securities held prior tochange		Stinoc Pty Limited (indirect) 32,064,388CVC Venture Managers Pty Ltd (indirect) 147,928Other indirect interests 2,820,417Total 35,032,733
Class		Ordinary Shares
Number disposed		32,212,316
Value/Consideration – disposedNote: If consideration is non-cash, provide detailsand estimated valuation		No consideration applicable as the change arose fromthe Director ceasing to have a relevant interest in theseshares.
No. of securities held after change		Indirect interest 2,820,417
Nature of changeExample: on-market trade, off-market trade, exerciseof options, issue of securities under dividendreinvestmentplan, participation in buy-back		Director ceasing to have a relevant interest in theseshares.

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

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.

Part 2 – Change of director’s int		erests in contracts
Note: In the case of a company, interests which come with		in paragraph (ii) of the definition of “notifiable int		erest of a director” should be
disclosed in this part.
Detail of contract
	Detail of contract		Nil
	Nature of interest		Nil
	Name of registered holder		Nil
	(if issued securities)
	Date of change		Nil
	No. and class of securities to		Nil
	which interest related prior to
	changeNote: Details are onl required for a contract in relation
	yto which the interest has changed
	Interest acquired		Nil
	Interest disposed		Nil
	Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation		Nil
	Interest after change		Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002