IONIC RARE EARTHS LIMITED — Director's Dealing 2003

Jan 13, 2003

Appendix 3Y

Rule 3.19A.2

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	Linton Harvey Chapman
Date of last notice	8 January 2002

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	Indirect Ordinary fully paid shares registered in the name of Marketlane Pty Ltd which acts as trustee of a family trust. L H Chapman is a director of Marketlane Pty Ltd and a potential beneficiary of the family trust.
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	10 January 2003
No. of securities held prior to change	5,677,419
Class	Ordinary Fully Paid Shares
Number acquired	Nil
Number disposed	3,600,000
Value/Consideration Note: If consideration is non-eash, provide details and estimated valuation	\$252,000
No. of securities held after change	2,077,419

• Sce chapter 19 for defined terms.

11/3/2002

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Appendix 3Y Page 1

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Off-market Trade	Nature of change Fixample: on-market trade, off-market trade, excretise of options, issue of securities under dividend reinvestment plan, participation in buy-back
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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 (if issued securities)	$\overline{\text{N/A}}$
Date of change	N/A
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	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	$\overline{\text{N/A}}$
Interest after change	N/A

Appendix 3Y Page 2

11/3/2002

⁺ See chapter 19 for defined terms.