MAGONTEC LIMITED — Director's Dealing 2008

Nov 27, 2008

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	ADVANCED MAGNESIUM LIMITED
ABN	51 010 441 666

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	John Stuart Hamer FITTON
Date of last notice	26 September 2008

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	John Stuart Hamer FITTON
(including registered holder)
Note: Provide details of the circumstances giving rise to
the relevant interest.
Date of change	28 November 2008
No. of securities held prior to change	1,785,589
Class	Ordinary fully paid shares
Number acquired	2,500,000 fully paid ordinary shares allotted on
	28 November 2008
Number disposed	Nil
Value/Consideration	Shares issued as part remuneration at $0.05 per
Note: If consideration is non-cash, provide details and	share.
estimated valuation
No. of securities held after change	125,355 Ordinary fully paid shares (indirect
	interest) and 4,160,234 Ordinary fully paid
	shares (direct interest)
Nature of change	New shares were issued as consideration for
Example: on-market trade, off-market trade, exercise of	part remuneration approved by Shareholders at
options, issue of securities under dividend reinvestment	the 18 November 2008 AGM. Half of the new
plan, participation in buy-back	shares are held in voluntary escrow until 31
	December 2008 and the remainder held in
	voluntary escrow until 30 June 2009.

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Name of DirectorDate of last notice	John Stuart Hamer FITTON
	26 September 2008

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

DATE: Friday 28 November 2008