GREENVALE ENERGY LTD — Major Shareholding Notification 2007

Dec 20, 2007

605 page 1/2 15 July 2001

Form 605

Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme GREENVALE MINING NL

ACN/ARSN 000 743 555

1. Details of substantial holder (1)

Name

LESLIE LASZLO WHITE and his associates L & E WHITE INVESTMENTS PTY LIMITED (ACN 000 401 230) L & E WHITE FAMILY HOLDINGS PTY LIMITED (ACN 000 569 264) SWISS CORPORATE CREDIT PTY LIMITED (ACN 001 191 886) WHITE CORPORATE MANAGEMENT PTY LIMITED (ACN 002 475 265) EXPLORATION FINANCE PTY LIMITED (000 742 183)

The holder ceased to be a substantial holder on / 11 / 2007 The previous notice was given to the company on / / The previous notice was dated / /

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange	Person whoserelevant interestchanged	Nature of change (4)	Considerationgiven in relationto change (5)	Class and number ofsecurities affected	Person'svotesaffected
/11/2007	Leslie LaszloWhite	Sale of shares. A copy of the CallOption Deed dated 24 October 2007between Leslie Laszlo White,Exploration Finance Pty Limited, L &E White Family holdings Pty Limited,L & E White Investments Pty Limitedand Swiss Corporate Credit PtyLimited (as grantors) and CaptainStarlight Nominees Pty Limited (asgrantee) is annexed hereto andmarked "A". A copy of the CallOption Notice dated ?? November2007 is annexed hereto and marked"B".	$310,268.99	89,633 ordinarycontributing shares	89,633
/11/2007	ExplorationFinance PtyLimited (ACN 000742 183)	Sale of shares (see annexures "A"and "B").	$3,941,543.40	1,147,500 ordinarycontributing shares	1,147,500
/11/2007	L & E WhiteFamily HoldingsPty Limited (ACN000 569 264)	Sale of shares (see annexures "A"and "B").	$172,042.08	50,000 ordinarycontributing shares	50,000
/11/2007	L & E WhiteInvestments PtyLimited (ACN 000401 230)	Sale of shares (see annexures "A"and "B").	$1,145,562.96	333,500 ordinarycontributing shares	333,500
/11/2007	Swiss CorporateCredit Pty Limited(ACN 001 191886)	Sale of shares (see annexures "A"and "B").	$363,068.12	105,667 ordinarycontributing shares	105,667

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

605 page 2/2 15 July 2001

Name and ACN/ARSN (if applicable) Nature of association

4. Addresses

The addresses of persons named in this form are as follows:

sses of persons named in this form are as follows:
Name	Address
Leslie Laszlo White	PO Box 366, Double Bay NSW 2028
Exploration Finance Pty Limited (ACN 000 742 173)	PO Box 366, Double Bay NSW 2028
L & E White Family Holdings Pty Limited (ACN 000 569 264)	PO Box 366, Double Bay NSW 2028
L & E White Investments Pty Limited (ACN 000 401 230)	PO Box 366, Double Bay NSW 2028
Swiss Corporate Credit Pty Limited (ACN 001 191 886)	PO Box 366, Double Bay NSW 2028

Signature

print name LESLIE LASZLO WHITE capacity DIRECTOR sign here date 20 Dec. 2007