WAM CAPITAL LIMITED — Director's Dealing 2007

Nov 19, 2007

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 made public.

Introduced 30/9/2001.

Name of entity WAM CAPITAL LIMITED

ABN 34 086 587 395

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 GEOFFREY J. WILSON Date of last notice 8 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.

**Direct or indirect interest **	DIRECT &INDIRECT
Nature of indirect interest (including registered holder) Note:Provide details of the circumstances giving rise to the relevant interest.	SUPERANNUATION FUND
**Date of change **	15, 16&20November2007
**No. of securities held prior to change **	2,596,773ordinary shares DIRECT 894,321 ordinary shares INDIRECT 294,394 options INDIRECT
Class	Options
Number acquired	300,000 optionsINDIRECT
**Number disposed **

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Acquired $1,310 optionsINDIRECT
No. of securities held after change	2,596,773ordinary shares DIRECT 894,321ordinary shares INDIRECT 594,394options INDIRECT
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On-market trades

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 change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002