GALE PACIFIC LIMITED — Share Issue/Capital Change 2003

Jan 14, 2003

Facsimile

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To:	Australian Stock Exchange Limited		FACSIMILE NO:
	Company Announcements Office		1300 300 021
FROM:	Rod House		AUSTRALIAN STOCK EXCHANGE TIA POOO በ36
SUBJECT:	Notification of right to exercise options - ilsting rule 3.10.7
DATE:	15 January 2003	TOTAL NO. OF PAGES: 1

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Dear Sirs

In accordance with listing rule 3.10.7, the company gives notice that due to the company's ordinary shares having traded on ASX at prices equal to or above \$1.35 for a consecutive period of 30 trading days, the holders of options granted by the company on 13 November 2000 under its executive option plan have the right to exercise $342,353$ of those options. Each such option:

• entitles the holder to subscribe for and be issued with 1 fully paid ordinary share in the company at a price of \$1.00 per share; and
• may be exercised at any time up to and including the expiry date, being 1 December 2004.

Yours faithfully

Rod House COMPANY SECRETARY

IF THIS MESSAGE IS NOT FULLY RECEIVED OR UNCLEAR, PLEASE CALL 61 3 9518 3333
The information contained in this facsimile transmission is privileged and confidential and intended only for the
use of the individual(s) and/or entity(les) named above. If you have received this transmission in error, please
immediathly notify us by telephone (collect) to arrange for return of the materials. Thank you.
Gale Pacific Ltd
145 Woodlands Drive, Braeside, Victoria 3195, Australia. P O Box 892, Braeside, Victoria 3195, Australia
Ph: (03) 9518 3333 Fax: (03) 9518 3398 Toll Hree: 1800 331 521
ABN 80 082 263 778 ACN 082 263 778
contatou

ZBS ON $V/V$ d

GALE PACIFIC 61 3 95183355