NEOMETALS LTD — Director's Dealing 2008

Dec 2, 2008

Reed Resources Ltd

ABN 89 099 116 631

97 Outram Street West Perth WA 6005 Tel: + 61 8 9322 1182 Fax: + 61 8 9321 0556

3 December 2008

Company Announcements Office Australian Securities Exchange Limited Via Electronic Lodgement

Dear Sirs,

CHANGE OF DIRECTOR’S INTEREST

Please find attached an Appendix 3Y Notice.

Yours faithfully,

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Christopher Reed MANAGING DIRECTOR COMPANY SECRETARY

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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 Reed Resources Ltd 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	15 October 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

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/Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	A. David John Reed C. Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund (Director and Fund Member)
Date of change	2 December 2008
No. of securities held prior to change A. David John Reed B. Trucking Nominees Pty Ltd C.Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund D. Judith Mary Reed	9,204,015 711,900 10,661,900 111,900
Class	Ordinary Fully Paid
Number acquired C. Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund	700,000

3 December 2008

Appendix 3Y Change of Director’s Interest Notice

Number disposed A. David John Reed	700,000
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$185,500.00
No. of securities held after change A. David John Reed B. Trucking Nominees Pty Ltd C.Trucking Nominees Pty Ltd ATF D.J.Reed Superannuation Fund D. Judith Mary Reed	8,504,015 711,900 11,361,900 111,900
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Off-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 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 Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

3 December 2008