IONIC RARE EARTHS LIMITED — Director's Dealing 2003

Oct 6, 2003

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	EZENET LIMITED
ABN	84 083 646 477

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	Dr Wolf Gerhard Martinick
Date of last notice	$28th$ July, 2003

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 & Indirect
Nature of indirect interest	N/A
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	3 October, 2003
No. of securities held prior to change	W G Martinick
	4,326,873 ordinary shares
	Martinick Investments Pty Ltd AFT The
	Martinick superannuation Fund
	2,802,920 ordinary shares
Class	Ordinary Fully paid shares
Number acquired	73,127
Number disposed	Nil
Value/Consideration	\$12,652.18
Note: If consideration is non-eash, provide details and estimated valuation

⁺ See chapter 19 for defined terms.

No. of securities held after change	W G Martinick 4,400,000 ordinary shares
	Martinick Investments Pty Ltd AFT The Martinick superannuation Fund 2,802,920 ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On Market Trade

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	N/A
Nature of interest	N/A
Name of registered holder	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to	N/A
which interest related prior to
change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an	N/A
estimated valuation
Interest after change	N/A

⁺ See chapter 19 for defined terms.