TITANIUM SANDS LIMITED — Major Shareholding Notification 2008

Apr 8, 2008

Level 10, 101 Collins Street Melbourne VIC 3000 Australia telephone 03 8616 1766 facsimile 03 8616 1760

www.kineticip.com.au ABN 28 009 568 496 AFSL 234674

9 April 2008

The Manager Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street

SYDNEY NSW 2000

By electronic lodgement

Dear Sir

Re: Notice of ceasing to be a substantial holder $\sim$ Windimurra Vanadium Limited $(WVL)$

We enclose notice of ceasing to be a substantial holder in Windimurra Vanadium Limited. This notice is given by Kinetic Investment Partners Limited.

Yours faithfully

Alison Stephenson Company Secretary

attach

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company name/Scheme ACN/ARSN	Windimurra Vanadium Limited 009 131 533
1. Details of substantial holder (1)
Name	Vinatia Invantmente Doctores Limited

Name	Kinetic Investment Partners Limited
ACN (if applicable)	009 568 496
The holder ceased to be a substantial holder on	ሰፈ ሰፈ ኃስስՋ

The holder ceased to be a substantial holder on	U4.U4.2UU6
The previous notice was given to the company on	19.03.2008
The previous notice was dated	19.03.2008

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant	Nature of	Consideration given in	Class (6) and number	Person's votes affected
	interest changed	change (4)	relation to change (5)	of securities affected
4/4/2008	Kinetic Investment	Dilution of holdings	N/A	N/A	N/A
	Partners Limited	due to new issue
		of shares

3. Changes in association

The following persons who have become associates (3) of ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN (if applicable)	----- Nature of association
N/A -----
		------

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Kinetic Investment Partners Limited	Level 10, 101 Collins Street, Melbourne VIC 3000

Signature

print name	Alison Stephenson	capacity	Company Secretary
signature		date	09/04/2008