LEFROY EXPLORATION LIMITED — Director's Dealing 2008

Feb 3, 2008

Rulo 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 30/0/2001.

		Name of entity U.S. MASTERS HOL DINGS LTD
4BA ARBN: 052 123 930
			clinary that the continuum continuum con- .

We (the entity) give ASX the following information under listing rule 3.19A2 model inofedrovih ie.

i Name of Director	RANDOLPH UPDYKE
: Data of last notice	29 JUNE 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

Now the the case of a company, interest which come within juregraph (i) of the definition of "nonfinible interest of a director" should
be disclosed in this part.

Direct or indirect interest	Direct:
Nature of indirect interest (including registored holder) Note: Provide details of the circounstances giving rise to the relevant PICCER
Date of change	29 January 2008
No. of securities held prior to change	1,300,250
Class	$0$ rdinare
Number acquired	10,000
Number disposed
Value/Consideration Notes If consideration is acn-cash, provide details and estimated valuation	$FA$ 3500, $-$
No. of securities held after change	1,380,750

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$\hat{~}$

• See chapter 19 for defined terms. $\cdot$ $11/3/2002$

Appendix 3Y Page 1

Appendix 3Y
Change of Ditector's Interest Notice

Nature of change Enample: on-inities made, off-market trade, exercise of options, issue of securities under dividend reinverturem plan, participation in buy- back	on-market tra

Part 2 - Change of director's interests in contracts

Note; lo 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
Nature of interest
Name of registered bolder (if issued securities)
Date of change
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 lateren has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is pon-cash, provide details and an enimated valuation.
Interest after change

$\hat{\mathcal{L}}$

• See chapter 19 for defined terms.

Appendix 3Y Page 2

$11/3/2002$

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