REACH RESOURCES LIMITED — Director's Dealing 2004

Sep 2, 2004

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

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	Cervantes Seafood Limited
ABN	79 097 982 235

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	William B. McSharer
Date of last notice	28 June 2004

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

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise totherelevantinterest.	Mr McSharer is a director of the company,Daylien Pty Ltd, which is trustee for the WB &JE McSharer Superannuation Fund
Date of change	1 September 2004
No. of securities held prior to change	246,250 ordinary fully paid shares
Class	See above
Number acquired	50,000 ordinary fully paid shares
Number disposed	Nil.
Value/ConsiderationNote: If consideration is non-cash, provide details andestimatedvaluation	Nil.
No. of securities held after change	296,250 ordinary fully paid shares
Nature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestmentplan, participation in buy-back	Shares were issued as a means of recognisingthe long-standing effort and commitment ofone of the fishing boats in the Company’s fleet(owned by interests associated with MrMcSharer and approved by shareholders atGeneral Meeting held on 26 August 2004).

• See chapter 19 for defined terms.

Appendix 3Y Page 1

30/9/2001

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

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

• See chapter 19 for defined terms.

Appendix 3Y Page 2

30/9/2001