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	Michael Brown
Date of last notice	24 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	Michael Brown
(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	516,666 Fully Paid Ordinary Shares (indirect
	interest held jointly with Wendy Elizabeth
	Brown); and
	555,556 Fully Paid Ordinary Shares (held
	directly)
Class	Ordinary fully paid shares
Number acquired	400,000 fully paid ordinary shares allotted on 28
	November 2008
Number disposed	Nil
Value/Consideration	Shares issued in lieu of fixed remuneration at
Note: If consideration is non-cash, provide details andestimated valuation	$0.05 per share.
No. of securities held after change	955,556 Fully Paid Ordinary Shares (held
	directly) and 516,666 Fully Paid Ordinary Shares
	(indirect interest held jointly with Wendy
	Elizabeth Brown)
Nature of change	New shares were issued as consideration for
Example: on-market trade, off-market trade, exercise of	Directors’ remuneration approved by
options, issue of securities under dividend reinvestment	Shareholders at the 18 November 2008 AGM.
plan, participation in buy-back	The new shares are held in voluntary escrow
	until 1 Jan 2009.

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Name of Director	Michael Brown
Date of last notice	24 October 2007

	Detail of contract	Detail of contract	-	-
	Nature of in	terest	-
	Name of re(if issued s	gistered holderecurities)	-
	Date of cha	nge	-
	No. and clawhich inter	ss of securities toest related prior to	-
	changeNote: Details arein relation to whi	only required for a contractch 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