PEET LIMITED — Director's Dealing 2008

Dec 21, 2008

Appendix 3Y

Rule 3.19A.2

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	PEET LIMITED
ABN	56 008 665 834

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	Anthony James Lennon
Date of last notice	8 December 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 relevantinterest.	Name of holder:Lex Talionis Pty LtdNature of interest:Shareholder of Lex Talionis Pty Ltd
Date of change	As at 18 December 2008
No. of securities held prior to change	Ordinary shares:203,769 comprising:200,000 Lex Talionis Pty Ltd3,769 Anthony James LennonOptions:600,000 Options held by Anthony JamesLennon
Class	OrdinarysharesandOptionsoverOrdinary shares.

Number acquired	400,000 Options issued in accordancewith the Peet Employee Share OptionPlan and approved by shareholders atthe 2008 Annual General Meeting. EachOption provides Mr Lennon with theoption of acquiring one ordinary share atan exercise price of $2.50, subject tospecified conditions being met.
	35,000 Performance Rights issued inaccordancewiththePeetLimitedPerformance Rights Plan and approvedby shareholders at the 2008 AnnualGeneralMeeting.EachPerformanceRightprovidesMrLennonwiththeopportunity to acquire one ordinary shareat no cost, subject to specified conditionsbeing met.
Number disposed	NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Each Option has an exercise price of$2.50.Each Performance Right has an exercise
	price of $0.00.
No. of securities held after change	Ordinary shares:203,769 comprising:200,000 Lex Talionis Pty Ltd3,769 Anthony James LennonOptions:
	1,000,000OptionsheldbyAnthonyJames Lennon
	Performance Rights:35,000PerformanceRightsheldbyAnthony James Lennon
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Issue of additional Options and issue ofPerformance Rights.

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	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	N/A
Interest after change	N/A