CYCLOPHARM LIMITED — Major Shareholding Notification 2007

Jan 18, 2007

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page 1/2 15 July 2001 603

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	CYCLOPHARM LIMITED
ACN/ARSN	116 931 250
1. Details of substantial holder (1) Name ACN/ARSN (if applicable)	BARLEIGH WELLS LIMITED
The rolder became a substantial holder on	03/11/2006
2. Details of voting power	the case of the contract of the companies of the interest in the scheme that the substantial folder or an associate (2) had a

The total number of votes attached to all the voting shares in the company or voting interests in the sorebust in the sorebust in the streaments in the streaments.

Class of securities (4)	Number of securities	Person's votes (5)	Veting power (6)
∃Refer Annexure A

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial
holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
I Refer Annexure B

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
I Refer Annexure C

5. Consideration

---

Holder of relevant inter est	Date of acquisition	Consideration (9)		Class and number of securities
Refer Annexure D		Tash	Non-cash

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603 page 2/2 15 July 2007

		Name and ACN/ARSN (if applicable)	Nature of association
		Refer Annexure E
T. Addresses		The addresses of persons named in this form are as follows:
		Name	Address
		Refer Annexure F
Signature
		print name HASMUKH VARA		capacity ACCOUNTANT
		sian here	date Baun Jan	12/01/2007
			DIRECTIONS
(1)	form.		If there are a number of supstantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity (mst), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and accresses of members is clearly set out in peragraph 7 of the
12		See the definition of "associate" in section 9 of the Corporations Act 2001.
$\left(3\right)$			See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001.
(4)			The voting shares of a company constitute one class unless divided into separate classes.
15)	interest in		The rotal number of votes attached to all the voting shares in the company or voting interests in the scheme (if anyl that the person or an associate has a relevent
16)			The person's votes divided by the total votes in the body corporate or scheme multiplied by 1CO.
邝.		Include details of:	any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 6718(4) applies, a copy of any cocument setting out
	(a)		the terms of any relevant agreement, and a statement by the person giving full and accurate cetails of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or errangement; and
	Þ.		any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).
		See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.
6)			if the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become

This is Annexure A Page 1 of 1 - Cyclopharm Limited (ACN: 116 931 250)

2. Details of voting power

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	ALCOHOL:
֦֧֖֖֪֚֚֚֚֘֝֬֓֓֓֓֬֓֬֓֓֬֓֬֓֬֓֬֓֬֓֓֬֓֓֬֓֬֓֓֬֓֬֓֬֓֬֓֬֓֬	$\parallel$ 2.804.052 $\blacksquare$	$\begin{tabular}{ c c c c c c c c c c c c c c c c c c c$
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Name: Hasmuth Vara
Signed: All Chang Vara Date:
Signed: All Chang Vara Date:

Accountant
12 January 2007

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This is Ameazure B Page 1 of 1 - Cyclopharm Limited (ACN: 116 931 250)

3. Details of relevant interests

Class and number	of securities	13,894,952
		Holder of the secunties
יות המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונ המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח המונח ה	Holder of relevant interest Nature of relevant interest	Barleigh Wells Limited

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Accountant
12 January 2007

ANNEXURE C

This is Annexure C Page 1 of 1 - Cyclopharm Limited (ACN: 116 931 250)

4. Details of present registered holders

		Person entitled to		Crass and
	Registered holder of	e registered as		umber of
Holder of relevant interest securities		holder	Nature of relevant interest isecurities
		kanteigh Wells
	Barteigh Wells Limited	inited	Holder of the securities	13894952
Barleigh Wells Limited

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Accountant
12 January 2007

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ANNEXURE D

This is Annexure D Page 1 of 1 - Cyclopharm Limited (ACN: 116 931 250)

1. Consideration

Non-cash Consideration (88, 071) 699.569 499,500 Cash 03/11/2006 5 07/12/2006 15 15/09/2006 Holder of relevant interest Date of acquisition sarleigh Weils Limited sarleigh Wells Lim ited Baneigh Wells Limited Total			number of $-1898$ and
			securities
			1,665,000
			13 991 373
			$\frac{(1.761, 421)}{(3.894, 952)}$

Capacity: ملسوبين Name: Hasmikh Vata
Signed: Wallett December

Accountant
12 January 2007

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This is Annexure E Page 1 of 1 - Cyclopharm Limited (ACN: 116 931 250)

6. Associates

	Nature of Association	≶
Name and ACN / ARSN (if	applicable)	≸

Capacity:

UNN Date: Name: Hasmuk
Signed: Substant

Accountant
12 January 2007

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This is Annexure F Page 1 of 1 - Cyclopharm Limited (ACN: 116 931 250)

1. Associates

Vame	Address
	Russel Bedford House, City Formum, 250 City Road,
	ondon, EC1V 2QQ, United Kingdom

Capacity:
Cate: Name: Hasmikh Vara
Signed: - 1 - CD - - -

Accountant
12 January 2007

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