GALE PACIFIC LIMITED — Director's Dealing 2003

Apr 28, 2003

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	Gale Pacific Limited
ABN	80 082 263 778

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	Huw Geraint Davies
Date of last notice	12 November 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 (including registered holder)	Registered Holder is H.G Davies Superannuation Nominees Pty Ltd, a
Note: Provide details of the circumstances giving rise to the relevant inferest.	company controlled by H.G. Davies.
Date of change	17 April 2003
No. of securities held prior to change	15,960
Class	Ordinary
Number acquired	318
Number disposed	$\blacksquare$
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$558.
No. of securities held after change.	16,278.

⁺ See chapter 19 for defined terms.

Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of securities under dividend reinvestment plan.
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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
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.