IONIC RARE EARTHS LIMITED — Director's Dealing 2009

Jun 3, 2009

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	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 DirectorDate of last notice	David Hamilton Ward19 January 2007

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
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	N/A
Date of change	1 June 2009
No. of securities held prior to change	Blackwood Business Services Pty Ltd atfthe Ward Family Fund – in-direct holding1,971,224 fully paid ordinary shares
Class	Fully paid ordinary shares – acquired
Number acquired	Blackwood Business Services Pty Ltd – in-direct holding1,800,000 fully paid ordinary shares
Number disposed	Blackwood Business Services Pty Ltd – in-direct holding1,800,000 fully paid ordinary shares
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Disposal $54,000.00Acquisition - $54,000.00

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	Blackwood Business Services Pty Ltd atf
	the Ward Family Fund – in-direct holding
	1,971,224 fully paid ordinary shares
Nature of change	Off Market Trade
Example: on-market trade, off-market trade, exercise of options, issue of
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.

N	o. of securities held after c	hange		Blackwood Business Services Pty Ltd atfthe Ward Family Fund – in-direct holding	Blackwood Business Services Pty Ltd atfthe Ward Family Fund – in-direct holding	Blackwood Business Services Pty Ltd atfthe Ward Family Fund – in-direct holding	Blackwood Business Services Pty Ltd atfthe Ward Family Fund – in-direct holding	Blackwood Business Services Pty Ltd atfthe Ward Family Fund – in-direct holding
							aid ordinary	shares
				1,971,224 fully p
Es	Nature of changexample: on-market trade, off-market tradii d diidd i l	e, exercise of oiii i	ptions, issue ofbbk		Off Market	Trade
	curtes uner ven renvestment pan,	partcpaton	uy-ac
	art 2 – Change of direc	tor’s inte	rests in con		tracts
	te: In the case of a company, interests whi	ch come within	paragraph (ii) of the d		efinition of “notifi	able interest of	a director” should be	disclosed
	his part.
	Detail of contract		N/A
	Nature of interest		N/A
(
	ame of registered holdeif issued securities)	r	N/A
	Date of change		N/A
cNto
	o. and class of secuhih itt ltd	rities toi t	N/A
	c neres reaehange	pror o
	ote: Details are only required for a contrwhich the interest has changed	act in relation
Interest acquired	tt id		N/A
Interest disposed			N/A
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation			N/A
Interest after change			N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002