GULLEWA LIMITED — Director's Dealing 2011

Dec 15, 2011

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: Gullewa Limited ABN: 30 007 547 480

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	David Deitz
Date of last notice	23 June 2011

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	Direct and Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	13,638,219 shares held by McNeil Nominees Pty Ltd a nominee for Mr Deitz 248,984 shares held by Walkaround Pty Ltd The balance is held by Mr Deitz directly
Date of change	16/12/11
No. of securities held prior to change	25,611,121 Ordinary Shares 7,000,000 Options of 7.25 cents expiring 30/11/2011 4,200,000 Options of 11.87 cents expiring 30/11/2014
Class	Ordinary shares
Number acquired	4,000,000 exercise of options at 7.25 cents
Number disposed	1,000,000 Ordinary shares at 7.25 cents
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$217,500

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change 28,611,121 Ordinary Shares 4,200,000 Options of 11.87 cents expiring 30/11/2014 Nature of change 4,000,000 Options exercised

Example: on-market trade, off-market trade, exercise of options, issue of 1,000,000 Shares disposed securities under dividend reinvestment plan, participation in buy-back

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.

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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
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• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Were the interests in the securities or contracts No detailed above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow Not applicable the trade to proceed during this period? If prior written clearance was provided, on what Not applicable date was this provided?

• See chapter 19 for defined terms.

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11/3/2002