GENERATION DEVELOPMENT GROUP LIMITED — Director's Dealing 2008

Dec 10, 2008

Appendix 3Y Change of Director’s Interest Notice

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 AUSTOCK GROUP LIMITED ABN 90 087 334 370

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	William Eric Bessemer
Date of last notice	29 July 2008

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 relevantinterest.	Onever Pty LtdMr Bessemer is a director and shareholder ofOnever Pty Ltd
Date of change	10 December 2008
No. of securities held prior to change	Onever Pty Ltd5,871,120 fully paid ordinary sharesSmith Peaco Nominees Pty Ltd ATFBessemer Property Trust6,639,100 fully paid ordinary shares
Class	Fully paid ordinary shares
Number acquired	2,000,000
Number disposed	n/a
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Pursuant to Austock Share Ownership PlanRules

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	Onever Pty Ltd7,871,120 fully paid ordinary sharesSmith Peaco Nominees Pty Ltd ATFBessemer Property Trust6,639,100 fully paid ordinary shares
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Off market transfer to occur on 29 December2008

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	Sale of shares into Austock Share Ownership Trust
Nature of interest	Pursuant to Austock Share Ownership Plan Rules
Name of registered holder(if issued securities)	Garry Eather (trustee)
Date of change	10 December 2008
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	2,000,000 fully paid ordinary shares
Interest acquired	n/a
Interest disposed	Interest in contract terminated upon transfer of2,000,000 fully paid ordinary shares to Director (referpart 1)
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	Pursuant to Austock Share Ownership Plan Rules
Interest after change	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002