NEOMETALS LTD — Major Shareholding Notification 2008

Jun 19, 2008

Form 603

Corporations Act Section 671B

Notice of initial substantial holder

To: Company Name/Scheme	Reed Resources Ltd
1. Details of substantial holder (1)
Name:	UBS Nominees Pty Ltd and its related bodies corporate
ABN:	32 001 450 522
The holder became a substantial holder on:	18 June 2008

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

Class of securities (4)	Number of securities	Persons' votes (5)	Voting power (6)
)rdinarv	396.540.'	.396.540	5.46%

$\overline{\mathbf{3}}$ 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
UBS AG, London Branch	Prime Broker with power to control the exercise of the power to dispose of shares pursuant to a Prime Broking Agreement.	7 396 540	Ordinary

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
UBS AG, London Branch	Various Custodians	Various Custodians	396.540.'	Ordinarv

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
N/A. As these holdings are held by UBS AG London Branch on behalf of Prime Brokerage clients, there is no trading by UBS AG London Branch to be reported.

6. Associates

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

______ _ __ ^CN (if applicable) Name and AC.	_____ of association Nature .
_ _	__

UBS AG, London Branch	Related body corporate

7. Addresses

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

Name	Address
Details of all UBS offices can be found through the following link: http://apps.ubs.com/locationfinder

Signature

----- : name: Print	_________ Tillman Peter	___ Capacity:	_________ Alternate Director
-- Sian here:	-----	. Date:	2008 ۱а une

Contact details for this notice:

Peter Tillman Legal & Compliance

(w) +61 2 9324 2231

(f) +61 2 9324 2558

Email: peter.tillman@ubs.com $\frac{1}{2}$