TITANIUM SANDS LIMITED — Major Shareholding Notification 2008

Jan 31, 2008

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

Windimurra Vanadium Limited To Company Name/Scheme

ACN/ARSN

009 131 533

1. Details of substantial holder (1)

Gersec Trust Reg. ("Gersec") Name

ACN/ARSN (if applicable)

There was a change in the interests of the

substantial holder on

The previous notice was given to the company on

The previous notice was dated

2. Previous and present voting power

En total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now re

24/01/08

07/09/07

07/09/07

Class of securities (4)	Previous notice		Present notice
	Person's votes Voting power Person's votes Voting power	(5)
ORDINARY	7,509.677	$7.32\%$	8.859.677	6.47%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a related interest of the substantial holder or an associate in voting
securities of the company or scheme, since the substantial holder was last required to give

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
3 September 2007	Gersec	Share Sale	2,832.75	1.458 ordinary shares	1,458
4 September 2007	Gersec	Share Sale	3,649.59	1.965 ordinary shares	1,965
28 September 2007	Gersec	Share Sale	33,177.54	17,742 ordinary shares	17,742
10 October 2007	Gersec	Share Sale	151,908.42	73,510 ordinary shares	73,510
11 October 2007	Gersec	Share Sale	368,051.72	169,938 ordinary shares	169,938
12 October 2007	Gersec	Share Sale	529,698.84	243.921 ordinary shares	243,921
15 October 2007	Gersec	Share Sale	169,270.02	79,354 ordinary shares	79,354
16 October 2007	Gersec	Share Sale	53,572.23	25.056 ordinary shares	25,056
17 October 2007	Gerseo	Share Sale	122,660.89	58,527 ordinary shares	58,527
18 October 2007	Gersec	Share Sale	25,763.19	12,145 ordinary shares	12,145
19 October 2007	Gersec	Share Sale	49,087.90	23,006 ordinary shares	23.006
22 October 2007	Genseo	Share Sale	7,433.67	3.623 ordinary shares	3.623
23 October 2007	Gersec	Share Sale	46,236.13	22,507 ordinary shares	22,507
24 October 2007	Gerseo	Share Sale	17,665.12	8.597 ordinary shares	8.597
25 October 2007	Gerseo	Share Sale	17,906.70	8.651 ordinary shares	8,651
24 January 2008	Gersec	Share Purchase	3,686,025	2,100,000 ordinary shares	2,100,000

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