GULLEWA LIMITED — Director's Dealing 2011

Sep 29, 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	A W HOWLAND-ROSE
Date of last notice	12 November 2010

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 relevantinterest.	3,893,227 shares held by HowlandroseHoldings Pty Limited1,845,018 shares held by Howland RoseHoldings Pty Ltd6,421,233 shares held by Mr Howland-Rosedirectly
Date of change	27/09/2011
No. of securities held prior to change	12,159,478 Ordinary Shares
Class	Ordinary shares
Number acquired	9,000 Ordinary shares
Number disposed
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$993.50

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

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----- Start of picture text ----- No. of securities held after change 12,168,478 Ordinary SharesNature of change On-market tradeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back----- End of picture text -----

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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----- Start of picture text ----- Detail of contractNature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuationInterest after change----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002