FIRST AU LIMITED — Director's Dealing 2008

May 8, 2008

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.

Name of entity: PUBLIC HOLDINGS (AUSTRALIA) LIMITED

ABN 65 000 332 918

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	Mr Wai-Kin (Rankine)YEUNG
Date of last notice	24 September 2007

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 rise tothe relevant interest.	Mr Wai-Kin (Rankine) YEUNG owns certain shares andoptions inFirst Shanghai Investments Ltd(FSIL), aCompany incorporated in Hong Kong and listed on theHong Kong Stock Exchange. FSIL owns all of theissued share capital ofAtlas Securities Pty Ltd(ACN001 147 593). Atlas Securities Pty Ltd owns 73.93% ofthe issued capital ofPublic Holdings (Australia)Limited.

Date of change	17 September 2007
No. of securities held prior to change	3,982,304 FSIL shares19,842,000 FSIL options
Class	ordinary shares
Number acquired
Number disposed	Sale of 1,000,000 FSIL shares

116494531 \ 0429162 \ SPM01

Value/ConsiderationNote: If consideration is non-cash,provide details and estimatedvaluation	HK$3,516,000 (average price of HK$3.516)
No. of securities held after change	2,982,304 FSIL shares19,842,000 FSIL options
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in buy-back	On market trade

Date of change	19 September 2007
No. of securities held prior to change	2,982,304 FSIL shares (Revised)19,842,000 FSIL options
Class	ordinary shares
Number acquired
Number disposed	Sale of 1,000,000 FSIL shares
Value/ConsiderationNote: If consideration is non-cash,provide details and estimatedvaluation	HK$3,547,820 (average price of HK$3.561)
No. of securities held after change	1,982,304 FSIL shares (Revised)19,842,000 FSIL options
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in buy-back	On market trade

116494531 \ 0429162 \ SPM01

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