CYCLOPHARM LIMITED — Director's Dealing 2011

Sep 26, 2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice (Amended)

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 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	John Stewart Sharman
Date of last notice	13/12/2010

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 or indirect interest	Direct	Direct
	Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.		N/A
	Date of change		21/09/2011
	No. of securities held prior to change		Direct 400,000Direct (nominee) 1,010,000
	Class		Ordinary Shares
	Number acquired		Nil
	Number disposed		400,000
			,
	Value/ConsiderationNote: If consideration is non-cash, provide details and estimated v	aluation	$17,200
	No. of securities held after change		Direct NilDirect (nominee) 1,010,000
	Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back		Off-market sales

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

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.

Detail of contract	Nil
Nature of interest	Nil
Name of registered holder(if issued securities)	Nil
Date of change	Nil
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract in relationto which the interest has changed	Nil
Interest acquired	Nil
Interest disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	Nil
Interest after change	Nil

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	Nil
If so, was prior written clearance provided to allow the tradeto proceed during this period?	Nil
If prior written clearance was provided, on what date was thisprovided?	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011