WAM ACTIVE LIMITED — Director's Dealing 2008

Mar 18, 2008

Appendix 3X Initial Director s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 WAM Active Limited

ABN 46 126 420 719

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Ronald Walker
Date of appointment	19 March 2008

Part 1 - Director s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

1,300,000 ordinary share

1,300,000 options to acquire ordinary shares

• See chapter 19 for defined terms.

11/3/2002

Appendix 3X Page 1

Appendix 3X Initial Director s Interest Notice

Part 2 Director s relevant interests in securities of which the director is not the registered holder

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

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest. Otowa Securities Pty Ltd	Number & class of Securities 1,300,000 ordinary shares 1,300,000 options to acquire ordinary shares

Part 3 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	Not applicable
Nature of interest	Not applicable
Name of registered holder (if issued securities)	Not applicable
No. and class of securities to **which interest relates **	Not applicable

• See chapter 19 for defined terms.

11/3/2002

Appendix 3X Page 2