REACH RESOURCES LIMITED — Director's Dealing 2004

Jun 28, 2004

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	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	17 March 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 tothe relevant interest.	Mr McSharer is a director of the companywhich is trustee for the WB $&$ JEMcSharer Superannuation Fund
Date of change	16 June 2004
No. of securities held prior to change	NIL.
Class	See above
Number acquired	246,250 ordinary fully paid shares
Number disposed
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$9,111
No. of securities held after change	246,250 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	On market

$\div$ See chapter 19 for defined terms.

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.