REACH RESOURCES LIMITED — Director's Dealing 2008

Dec 11, 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 CERVANTES CORPORATION LTD
ABN 97 097 982 235

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	COLLINVOST
Date of last notice	8December2008

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	IndirectInterest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	SharesandoptionsheldbyNewYorkHoldings PtyLtd(AcompanywhichCollinVostisadirectorandshareholder)
	SharesandoptionsheldbyNewYorkHoldingsPtyLtdATFtheCVSuperannuation Fund(AfundwhichCollinVostis a beneficiary)
	OptionsheldbyInvestmentsPromotionsPtyLtdATF theMercedes FamilyTrust.(AtrustwhichCollinVostis a beneficiary)
	OptionsheldbyZurichSecurities PtyLtd(AcompanywhichCollinVostisadirectorandshareholder)
Date of change	8to11 December2008

+ See chapter 19 for defined terms.

No. of securities held prior to change	770,000OrdinarySharesheldbyNewYork
	Holdings PtyLtd
	2,810,000Optionsexercisableat1.5conor
	before31/12/2008heldbyNewYork
	Holdings PtyLtd
	25,000,000OrdinaryShareheldbyNew
	YorkHoldingsPtyLtdATFtheCVSuperannuation Fund
	25,000,000Optionsexercisableat1.5conor
	before31/12/2008heldbyNewYorkHoldingsPtyLtdATFtheCVSuperannuation Fund
	20,000Optionsexercisableat1.5conor
	before31/12/2008heldbyInvestmentsPromotionsPtyLtdATFtheMercedes
	FamilyTrust.
	20,000Optionsexercisableat1.5conor
	before31/12/2008heldbyZurichSecurities
Class	PtyLtd
	Optionsexercisableat1.5conorbefore31/12/2008
Number acquired
Number disposed	650,000
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$5027
No. of securities held after change	770,000OrdinarySharesheldbyNewYorkHoldings PtyLtd
	2,200,000Optionsexercisableat1.5conorbefore31/12/2008heldbyNewYorkHoldings PtyLtd
	25,000,000OrdinaryShareheldbyNewYorkHoldingsPtyLtdATFtheCVSuperannuation Fund
	25,000,000Optionsexercisableat1.5conorbefore31/12/2008heldbyNewYorkHoldingsPtyLtdATFtheCVSuperannuation Fund
Natureof changeExample: on-market trade, off-market trade, exercise of options, issue of	OnMarketTrade
securities under dividend reinvestment plan, participation in buy-back

+ See chapter 19 for defined terms.

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.

Detailofcontract
Natureofinterest
Nameofregisteredholder(ifissuedsecurities)
Dateof change
No.andclassofsecuritiestowhichinterestrelatedpriorto
changeNote: Details are only required for a contract in relationto which the interest has changed
Interestacquired
Interestdisposed
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation
Interestafter change

+ See chapter 19 for defined terms.