First Graphene Ltd. — Director's Dealing 2004

Jun 1, 2004

Appendix 3Y

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	Tolhurst Noall Group Ltd
ABN 50 007 870 760

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	Gerald Andrew McDouall
Date of last notice	19 December 2003

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 to the relevant interest.	Ordinary Shares held by Tartan Securities Ltd and ordinary shares held by Balgreggan Financial Investments Limited ("BFIL"), companies associated with Mr. McDouall.
Date of change	2 June 2004
No. of securities held prior to change	103,070 Tartan Securities Ltd.
	8,200,000 BFIL
	8,303,070 Total
Class	Ordinary
Number acquired	Tartan Securities Ltd
	BFIL. 41,667
	Total 41,667
Number disposed	Nil
Value/Consideration	Tartan Securities Ltd $\blacksquare$
Note: If consideration is non-cash, provide details and estimated ealmation	\$5,000.00 -BFIL
	\$5,000.00 Total

⁺ See chapter 19 for defined terms.

No. of securities held after change	103,070 8,241,667 8,344,737	Tartan Securities Ltd BFIL Total
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Share purchase plan.

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	N/A
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.