ORION EQUITIES LIMITED — Director's Dealing 2003

Mar 3, 2003

Rule 3.19A.1

Appendix 3X

Initial 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	CENTRAL EXCHANGE LIMITED
ABN	77 000 742 843

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	William Matthew Johnson
Date of appointment	28 February 2003

Part 1 - Director's relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Number of Securities	Class of Securities
None	Ordinary fully paid shares

Part 2 - Director's relevant interests in securities of which the director is not the registered holder In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest.	Number of Securities	Class of Securities
I have a relevant interest in entities who are the registered holders of securities in the entity as follows:
None	N/A	Ordinary fully paid shares

Part 3 - Director's interests in contracts

Detail of contract	None
Nature of interest	Not Applicable
Name of registered holder	Not Applicable
(if issued securities)
No. and class of securities to which	Not Applicable
interest relates