PPK GROUP LIMITED — Major Shareholding Notification 2007

Jul 9, 2007

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company name/Scheme	Frigrite Limited
A.C.N. or A.R.S.N. ACN 112 452 436
1. Details of substantial holder (1)
Name	PPK Investment Holdings Pty Limited
ACN/ARSN (if applicable)	ACN 057 988 951
There was a change in the interests of thesubstantial holder on	9/7/2007
The previous notice was given to the company on	13/6/2007
The previous notice was dated	12/6/2007

2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5).	Persons votes	ı power (5'Votina
Crdinary Shares--------------------------------------	3.280,386	6.39%	3.794.307	7.39%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofChange	Person whose relevantinterest changed	Nature ofchange (6)	Consideration given inrelation to change (7)	Class and numberof securitiesaffected	Person's votesaffected
19/06/07	PPK Investment HoldingsPty Limited	Purchase of shares(on-market)	$48 455.92	93.418	93.418
20/06/07	PPK Investment HoldingsPty Limited	Purchase of shares(on-market)	$13,000,00	25,000	25.000
26/06/07	PPK Investment HoldingsPty Limited	Purchase of shares(on-market)	$25 844.83	49.247	49.247
27/06/07	PPK Investment HoldingsPty Limited	Purchase of shares(on-market)	$94,479.20	179,000	179,000
28/06/07	PPK Investment HoldingsPty Limited	Purchase of shares(on-market)	$56,836.40	106.276	106.276
04/07/07	PPK Investment HoldingsPty Limited	Purchase of shares(on-market)	$18,312.00	34.880	34,880
05/07/07	PPK Investment HoldingsPty Limited	Purchase of shares(on-market)	$6,874.40	13,000	13,000
09/07/07	PPK Investment HoldingsPty Limited	Purchase of shares(on-market)	$6,927.28	13.100	13,100

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofrelevantinterest	Registeredholder ofsecurities	Person entitledto be registeredas holder (8)	Nature ofrelevantinterest (6)	Class andnumber ofsecurities	Person's votes
PPKInvestmentHoldings PtyLimited	PPK Investment Holdings PtyLimited	PPK Investment Holdings PtyLimited	Legal & BeneficialOwner	3.768.207	3,768,207
PPKInvestmentHoldings PtyLimited	Various / Unknown	PPK Investment Holdings PtyLimited	Beneficial Owner	26,100	26.100

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relating to voting interests in the company or scheme are as follows:

----212ACNIARS Napplicableml Name and.______	----------sociation$"$ concernedNature of______	--
I N/A$\cdots$----the company of the company______

6. Addresses

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

Name---------	------------$-1$ where $-$voores.	.
. DDK 1Dhr ILimited. HoldinasInvestment$\sim$ $\sim$ $\sim$ $\sim$_______	con aNRW1.44$\sim$-25.Me.жыла√lm.204--	----_____STATISTICS

Signature

print name Jury Wowk	Directorcapacity
111sign here	10 / 07 / 2007date

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and $(1)$ in ustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to 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 6 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 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• Include details of: $(6)$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy $(a)$ of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, and a statement by the person giving full and accurate
  • any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the $(b)$ securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or $(7)$ may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". $(8)$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$