LEFROY EXPLORATION LIMITED — Director's Dealing 2007

Aug 16, 2007

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 hecome ASX's property and may be made public. Introduced \$0/9/2001

Name of out

Maing OI GILILA
		- MASTERS HOLDINGS LTD
HARBN: 052 123 900

We (the entity) give ASX the following information under listing rule 3.19A.2 and seemador The House pupers of wedon 1860 of the Corporations hut.

Name of Director
Date of last notice	RANDOLPH UPDYKE
	27 March 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

Notes in the case of a company, interests which come within peragraph (i) of the definition of "notifiable interest of a director" should

Direct or indirect interest
	Direct
Nature of indirect interest
(including registered bolder)
Noon Provide decals of the curricustances giving rise to the relevant iateresc.
Date of change
	29 June, 2007
No. of secorities held prior to change
	1,320,250
Cias S
	ordinary
Number acquired
Number disposed	50,000
Value/Consideration
None if consideration is non-cast, provide details and estimated valuation
	A\$ 19,000.-
No. of securities held after change
	1.370,250

• See chapter 19 for defined terms.

11/3/2002

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Appendix 3Y Page 1

FAX NO. : 18437222284

Appendix 3Y Change of Director's Interest Notice

Nature of change

commesse as souscity of the state ando, exempt of options, issue
Example: on-market trade, off-market trade, exempt 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 wabin paragraph (ii) of the definition of "notifiable interest of a director" ahould
be dischosed in this part

ï

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior 10 change Nome Densits are only required for a contrare in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: if consideration is non-cash, provide details and an eminated valuation
Interest after change

$\ddot{\phantom{a}}$

• See chapter 19 for defined terms

Appendix 3Y Page 2

11/3/2002

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