NEOMETALS LTD — Major Shareholding Notification 2005

Dec 22, 2005

eed Resources Ltd ABN 89 099 116 631

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

TO:	FROM:
Company Announcements	Chris Reed
COMPANY:	DATE:
Australian Stock Exchange	23/12/2005
FAX NUMBER:	TOTAL NO. OF PAGES INCLUDING COVER:
1900 999 279	3
PHONE NUMBER:	SENDER'S REFERENCE NUMBER:
RE: Form 603	YOUR REFERENCE NUMBER:

NOTES/COMMENTS:

REED RESOURCES LTD (ASX:RDR) NOTICE OF INITIAL SUBSTANTIAL HOLDER

Please find following notices for release to market.

$\bullet$ Form 603 (2 pages)

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

Kind regards

CfReed

Chris Reed Executive Director Company Secretary

603 page 1/2 15 July 2001

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme	REED RESOURCES LTD
ACN/ARSN	099 116 631
1. Details of substantial holder (1) Name	Peter Bowman Nominees Pty Ltd as Trustee for the Bowman Superannuation Fund

ACN/ARSN (If applicable)

The holder became a substantial holder on 21/12/2005

2. Details of voting power

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) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary Shares	5,000,000	5.000,000	6.67%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Peter Bowman Nominees Pty Ltd as Trustee for the Bowman Superannuation Fund	Placement	5,000,000 Ordinary Shares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows;

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
Peter Bowman Nominees Pty Ltd as Trustee for the Bowman Superannuation Fund	Peter Bowman Nominees Pty Ltd as Trustee for the Bowman Superannuation Fund	Peter Bowman Nominees Pty Ltd as Trustee for the Bowman Superannuation Fund	5,000,000 ordinary shares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
Peter Bowman Nominees Pty Ltd as Trustee for the Bowman Superannuation Fund	21/12/2005	\$1,000,000	$\rightarrow$	5,000,000 ordinary shares

8. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association

7. Addresses

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

sign here

Name	Address
Peter Bowman Nominees Pty Ltd as Trustee for the Bowman Superannuation Fund	c/- Stirling Partners POBox 777, CLAREMONT WA 6910

Signature

print name RODNEY JOHN LEWIS

Secretary

date 2012/2005

DIRECTIONS

If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the

Capacity

equity trust), the names could be included in an annexure to the form if the relevant interests of a group of persons are essentially $(1)$ 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 7 of the form.

See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$

See the definition of "relevant interest" in sections 608 and 6719(7) of the Corporations Act 2001. $\langle 3 \rangle$

The voting shares of a company constitute one class unless divided into separate classes.

The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or ar associate has a relevant

• $(5)$ interest in.
• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

$\left( 4\right)$