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Holding(s) in Company

11th Dec 2006 07:00

OILEX LTD11 December 2006Alternative Investment MarketLondon UKDear Sir/Madam,

RE: NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER

A Form 604 "Notice of Change of Interests of Substantial Holder" was received today from JP Morgan Chase & Co and its affiliates pertaining to an increase in holding of 2,175,000 shares giving a total holding of 6,430,000 shares held in Oilex Ltd representing 8.36% of the issued capital.

The change in holding was effected on 7 December 2006.

For and on behalf of the Board

M.D.J. CozijnDirector/Company Secretarycc: Directors - BMc/RB/GIJ ABN 50 078 652 632

Level 3, 50 Kings Park Road West Perth WA 6005 Australia PO Box 588 West Perth WA 6872 Australia

Telephone: (+61 8) 9226 5577 Facsimile: (+61 8) 9226 2108 Email:

[email protected] Web: www.oilex.com.au

OILEX LTD

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