GALE PACIFIC LIMITED — Director's Dealing 2004

Apr 19, 2004

Rule 3.19A.2

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.

Introduced 30/9/2001.

Name of entity	Gale Pacific Limited
JABN	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	22 March 2004

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	Registered Holder is H.G Davies
(including registered holder)	Superannuation Nominees Pty Ltd, a
Note: Provide details of the circumstances giving rise to the relevant interest.	company controlled by H.G. Davies.
Date of change	16 April 2004
No. of securities held prior to change	18,435
Class	Ordinary
Number acquired	232
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$2.77875 per share
No. of securities held after change	18,667

⁺ See chapter 19 for defined terms.

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