NEOMETALS LTD — Director's Dealing 2003

Jan 19, 2003

FACSIMILE TRANSMITTAL SHEET TO: FROM: Company Announcements Chris Reed Office COMPANY: DATE Australian Stock Exchange Ltd 20 January 2003 FAX NUMBER: TOTAL NO. OF PAGES INCLUDING COVER: 1 300 300 021 8 PHONE NUMBER: SENDER'S REFERENCE NUMBER: RE. YOUR REFERENCE NUMBER: Appendix 3Y, Form 604 DURGENT □ FOR REVIEW □ PLEASE COMMENT □ PLEASE REPLY □ PLEASE RECYCLE

NOTES/COMMENTS:

REED RESOURCES LTD (ASX: RDR) - CHANGE OF DIRECTORS INTEREST, CHANGE IN SUBSTANTIAL SHAREHOLDING

Please find following notices for release to market.

• Appendix $3Y (2 \text{ pages})$
• Form $604 (5$ pages)

If you have any queries please contact me on 08 9322 1182

Kind regards

C/Reed.

C J Reed DIRECTOR

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.

ABN 89 099 116 631

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 JOHN REED
Date of last notice	9 JULY 2002

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	INDIRECT
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	TRUCKING NOMINEES PTY LTD ATF D.J.REED SUPERANNUATION FUND MEMBER OF FUND
Date of change	20 JANUARY 2003
No. of securities held prior to change	NIL
Class	FULLY PAID ORDINARY SHARES
Number acquired	1,470,000
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$272,847
No. of securities held after change	1,470,000

⁺ See chapter 19 for defined terms.

Appendix 3Y Change of Director's Interest Notice

Mature of change Example: on-market trade, off-market trade, exercise of options, issue of 1 securities under dividend reinvestment plan, participation in buy-back	ON MARKET TRADE

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.

Detail of contract	NIL
Nature of interest
Name of registered holder (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 interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

⁺ See chapter 19 for defined terms.

page 1/2 15 July 2001 604

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

Io. Company Name/Scheme	REED RESOURCES LIMITED
ACN/ARSN	099 116 631
1. Details of substantial holder(1)
Name	DAVID JOHN REED

There was a change in the interests of the substantial holder on	20/1/03
The previous notice was given to the company on	9, 7, 02
The previous notice was dated	9 / 7 / 02

2. Previous and present voting power

ACN/ARSN (if applicable)

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) $\left| \right\rangle$

Class of securities (4)	Previous notice		Present natice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
IORDINARY FP	$ 15.892.115 $ 32.43 %		$17,362,115$ 35.43 %

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a re evant interest of the substantial holder or an associate in voting securities of the company or scheme, since the
substantial holder was last required to give

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
	REFER ANNEXURE A

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
	REFER ANNEXURE B

page 2/2 15 July 2001 604

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substant a holder in relation to vot ng interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
Brown of Janet	_________ APPLICARLE NU

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
	REFER ANNEXURE C
	. _________

Signature

print name	CHRISTOPHER JOHN REED	COMPANY SECRETARY capacity
sign here	Ckeed	$_{\text{date}}$ 20 $/01$ $/03$

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an $(1)$ equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• $(2)$ See the definition of "associate" in section 9 of the Corporations Act 2001
• $(3)$ See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 6718(4) applies, a copy of any $(a)$ document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• $(b)$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

$\left( 7\right)$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, becomile entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

$\left( 6\right)$ If the substantial holder is unable to determine the identity of the person (eq. if the relevant interest arises because of an option) write "unknown".

$\left(\mathbb{S}\right)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

The annexure of two pages marked Annexure A in Form 604, being Notice of change of interests of substantial shareholder by David John Reed to Reed Resources Limited

Date of change	Person whose Irelevant interest changed	Nature of T Ichange. 陰鬱	Consideration. given in relation to change	Class and number of securities affected
	20/01/2003 David John Reed	BUY	272,847.43	1,470,000

• BUY : Aquired shares pursuant to buy contracts entered into in the ordinary course of business at official meetings of Australian Stock Exchange Ltd in accordance with th rules of Australian Stock Exchange Ltd and containing no terms and conditions other than the standard terms and conditions.
• SELL : Disposed of shares pursuant to sell contracts entered into in the ordinary course of business at official meetings of Australian Stock Exchange Ltd in accordance with th rules of Australian Stock Exchange Ltd and containing no terms and conditions other than the standard terms and conditions.

p.

The annexure of one page marked Annexure B in Form 604, being Notice of change of interests of substantial shareholder by David John Reed to Reed Resources Limited

Inolder of Irelevant linterest	Registered holder of securities	Person entitled to be registered relevant as holder.	Nature of linterest	Class and Inumber of securities	Person's votes
David John IReed	David John Reed	David John Reed	Registered and beneficial owner	11,892,115 24.27%
Trucking Nominees Pty Ltd	Trucking Nominees Pty Ltd	Trucking Nominees Pty Ltd	David John Reed has a controlling Interest in Trucking Nominees Pty Ltd	4,000,000	8.16%
Trucking Nominees Pty Ltd Super Fund)	Trucking Nominees Pty Ltd (ATF DJ Reed (ATF DJ Reed (ATF DJ Reed Super Fund)	Trucking Nominees Pty Ltd Super Fund)	David John Reed is a member of Superannuation Fund	1,470,000	$3.00\%$

The annexure of one page marked Annexure C in Form 604, being Notice of change of interests of substantial shareholder by David John Reed to Reed Resources Limited

[Name	Address
Trucking	56 Ranch Road
Nominees Pty Ltd	MARIGINIUP WA 6065
David John Reed	119 Avonmore Tce
Reed	COTTESLOE WA 6011