METALS AUSTRALIA LTD — Director's Dealing 2008

Jul 3, 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 Metals Australia Ltd ABN 38 008 982 474

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	David Nathan Zukerman
Date of last notice	20 December 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

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise tothe relevant interest.
Date of change	3 July 2008
No. of securities held prior to change	500,000 ordinary fully paid shares1,000,000 options–exercise price 5 cents per option,expiry 30 September 20091,400,000 options–exercise price 10.5 cents per option,expiry 31 December 2010
Class	Ordinary shares
Number acquired	None
Number disposed	500,000
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$17,500

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

1,000,000 options – exercise price 5 cents per option, expiry 30 September 2009 No. of securities held after change 1,400,000 options – exercise price 10.5 cents per option, expiry 31 December 2010 Nature of change Example: on-market trade, off-market trade, exercise of On-market trade options, issue of securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In 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.

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----- Start of picture text ----- Detail of contractNature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuationInterest after change----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002