MACMAHON HOLDINGS LIMITED — Director's Dealing 2007

Oct 18, 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 become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	MACMAHON HOLDINGS LIMITED
ABN	93 007 634 406

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	Nicholas Ronald Bowen
Date of last notice	13 December 2005
Date of this notice	19 October 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

Direct or indirect interest	Direct Interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.
Date of change	9 October 2007
No. of securities held prior to change	Nicholas Ronald Bowen:7,884,550 Ordinary Shares2,000,000 Performance Shares Class A2,000,000 Performance Shares Class B
Class	Ordinary
Number acquired	124,167 Ordinary Shares
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$1.27 cents per share
No. of securities held after change	8,008,717 Ordinary Shares2,000,000 Performance Shares Class A2,000,000 Performance Shares Class B
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan,participation in buy-back	Issue of securities under dividendreinvestment plan in relation to the dividendpaid on 9 October 2007

• See chapter 19 for defined terms.

Appendix 3Y Page 1

30/9/2001

Appendix 3Y Change of Director’s Interest Notice

Direct or indirect interest	Indirect Interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	Alkat Pty Ltd as trustee for Bowen WelshTrust - Nicholas Ronald Bowen is a directorand shareholder of the trustee and abeneficiaryof the trust
Date of change	9 October 2007
No. of securities held prior to change	4,500,585 Ordinary Shares
Class	Ordinary
Number acquired	70,876 Ordinary Shares
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$1.27 cents per share
No. of securities held after change	4,571,461 Ordinary Shares
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan,participation in buy-back	Issue of securities under dividendreinvestment plan in relation to the dividendpaid on 9 October 2007

Part 2 – Change of director’s interests in contracts

Detail of contract	NIL
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation
Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

30/9/2001