SIETEL LIMITED — Director's Dealing 2004

Jan 20, 2004

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FACSIMILE MESSAGE

¦To:		Date:	21 Jan, 2004
	Company: Australian Stock Exchange	Fax No.	9614 0303
From:	Richard Rees - Managing Director Sietel Ltd
Subject:	Change of Directors Interest Notice - 3Y		No. of pages $4$(including this sheet)

Dear Sir/Madam,

Attached is a Change of Director's Interest Notice - Appendix 3Y

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PRIVACY & CONFIDENTIALITY NOTICE:

The information contained in this facsimile is intended for the named recipients only. It may contain privileged andconfidential information and if you are NOT an intended recipient, you must not copy, distribute or take reliance on it. If you have received this facsimile in error, please notify us immediately on any of the numbers listed below.

Sietel Limited	Address:	463-467 Warrigal Rd, Moorabbin, Victoria, Australia
ACN 004 217 734ABN 75 004 217 734	Telephone:	Postal Address: PO Box 1195 Moorabbin, Victoria 3189` Fax: (03) 9532 5244(03) 9553 5740

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 mode public.

Introduced 30/9/2001.

Name of endry SILETEL LIMITED
ABN 75 004 217 734

We (the sotity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 2050 of the Corporations Act.

Name of Director	RICHARD REES
Date of last notice	2312/02

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the reast made available by the responsible entity of the trust

Note: In the care of a company, interests which come which paragraph (i) of the definition of "actuality interest of a director" sheate on disclosed in this part.

Direct or indirect interest	INDIRECT
Nature of indirect interest(including registered holder)Note: Provide details of the ensumatances giving rise to the relevantinterest.	MAP
Date of change	$22/01$ 2004
No. of securities held prior to change	INDICAT SHORESHELD 5,023,956
Clem	ORDINART
Number acquired		39,800
Number disposed	NN
Value/ConsiderationNote: if consideration is usu-cash, provide details and essignized valuation		$427,860.00$ $C_{\text{pump}}^{20}$
No. of securities held after change	5,063,756
Nature of changeSHARES WERE ACQUIREDExample: 09-market trade, offermarket under examples of options, issue asformation under divident relateational plan, participation in buy-backOR THE MARKET

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director's Interest Notice

Nature of change. Example: on-market trade, off-market trade, exendee of options, .$^{\circ}$ lasue of securities under dividend reinvesiment plan, participation in $,$buy-beck	' Shares were acquired on market.

Part 2 - Change of director's interests in contracts

Note: in the case of a company, interests which come within paragreph (ii) of the distrition of "nolifiable interest of a director" shouldbe disclosed in this part.

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

J,

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+ See chapter 19 for defined terms.