EQUATORIAL RESOURCES LIMITED — Director's Dealing 2003

Dec 7, 2003

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	EQITX Limited
ABN	50 009 188 694

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	Hilton Nathanson
Date of last notice	30 April 2002

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 inferest	Shares beneficially held by the registered
(including registered holder)	holder Citicorp Nominees Pty Ltd.
Note: Provide details of the circumstances giving rise to the relevant inferest.
Date of change	3 December 2003
No. of securities held prior to change	2,660,000 Ordinary Shares
	4,500,000 Listed Options
Class	Ordinary Shares
Number acquired	1,005,000
Number disposed	۰
Value/Consideration	\$301,500
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	3,665,000 Ordinary Shares
	4,500,000 Listed Options
Nature of change	Participation in placement as approved by
Example: on-market trade, off-market trade, exercise of options, issue of	shareholders at the Annual General Meeting
securities under dividend reinvestment plan, participation in buy-back	of the Company held on 19 November 2003.

⁺ See chapter 19 for defined terms.

Appendix 3Y

Part 2 – Change of director's interests in contracts NIL

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
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

⁺ See chapter 19 for defined terms.