IONIC RARE EARTHS LIMITED — Director's Dealing 2003

Jun 17, 2003

Ezenet Limited ACN 083 646 477 ABN 84 083 646 477 Ground Floor Zurich House 66 Kings Park Road West Perth WA 6005

FACSIMILE TRANSMISSION

Telephone: +618 9486 8598 Facsimile: +618 9486 8597 Email: linton@ezenet.com.au

DATE:

16 JUNE 2003

ATTENTION:

COMPANY ANNOUNCEMENTS PLATFORM

COMPANY: ASXLTD

FAX NO:

PAGES:

1300 300 021 ףרב החי כסףו 3 (INCLUSIVE)

Please advise if this copy is incomplete or illegible by phoning 08 9226 3166

DIRECTOR'S INTERESTS

Attached is an Appendix 3Y for Dr Wolf Gerhard Martinick.

Regards,

Wolf G Martinick

Chairman

Appendix 3Y Change of Director's Interest Notice

Rule 3.19.4.2

٦

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.

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 purpose of section 205G of the Corporation Act.

Name of Director:	Wolf Gerhard Martinick
Date of Last Notice:	15 January 2003

Part 1 - Change of director's relevant Interest in securites

In the case of a trust, this includes interests in the trust mode 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 (including registered holders) Note: Provide details of the circumstances giving rise to the relevant interest.	Direct
Date of Change	16 June 2003
No. of securities held prior to change	WG Martinick 4,096,712 Ordinary Shares Martinick Investments Pty Ltd ATF The Martinick Superannuation Fund 2,802,920 Ordinary Shares
Class	Ordinary Fully Paid Shares
Number acquired	100,000
Number disposed	NIL

J.

Value/Consideration Note: If consideration in non-cash, provide details and estimated valuation	\$8,751.50
No. of securities held after change	WG Martinick 4,196,712 Ordinary Shares Martinick Investments Pty Ltd ATF The Martinick Superannuation Fund 2,802,920 Ordinary Shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securites under dividend reinvestment plan, participation in buy-back	On-Market Purchase

Part 2 - Change of director's interest 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 (if issued securites)	N/A
Date of change	N/A
No. and class of securites to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration in non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

$\overline{a}$