SDI LIMITED — Director's Dealing 2007

May 8, 2007

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: SDI Limited
ABN: 27 008 075 581

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	Jeffery James Cheetham
Date of last notice	24 October 2006

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)	Director of Currango Pastoral Company Pty
Note: Provide details of the circumstances giving rise to therelevant interest.	Ltd who has share ownership.
Date of change	4 May 2007
No. of securities held prior to change	50,713,014
Class	Ordinary
Number acquired	54,879
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	54,879 shares, $45,000.78
No. of securities held after change	50,767,893
Nature of changeExample: on-market trade, off-market trade, exercise of options,issue of securities under dividend reinvestment plan.participation in buy-back	Issue of shares under dividend reinvestmentplan.

+ See chapter 19 for defined terms.

Part 2 - Change of director's interests in contracts

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

+ See chapter 19 for defined terms.