ST BARBARA LIMITED — Director's Dealing 2008

Jan 7, 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	St Barbara Limited
ABN	36 009 165 066

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	Mr Douglas Bailey
Date of last notice	22 November 2007

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.

Indirect
Mr Bailey has a beneficial interest in the
purchases of the shares, Bailey Superannuation
PtyLtd<baileySuperannuationFund</bailey
Account>.
11 December 2007
100,000 fully paid ordinary shares (Shares)
8% convertible notes due 2012 (Notes) with a face
value of $850,000, convertible into 1,170,638 fully
paidordinaryshares(basedonthecurrent
conversion price of $0.7261).
Fully paid ordinary shares
7,937 shares
Nil
$5,000.00
107,937 Shares.
Notes with a face value of $850,000, convertible
into 1,170,638 fully paid ordinary shares (based on
the current conversion price of $0.7261).

+ See chapter 19 for defined terms.

Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Pursuant to Share Purchase Plan, as announced tothe market on 8 November 2007.
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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.

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

+ See chapter 19 for defined terms.