NOTICE OF CEASING TO BE A SUBSTANTIAL HOLDER

9th Jul 2008 09:55

OILEX LTD9 July 2008Release to the AIM MarketLondon UKDear Sir/Madam,

RE: FORM 605 NOTICE OF CEASING TO BE A SUBSTANTIAL HOLDER

Oilex Ltd ("Oilex") advises that it has received notification of lodgement with ASX of a Form 605 Notice of Ceasing to be a Substantial Holder from Oceanic Asset Management Pty Ltd, meaning their holding has gone below 5%.

For and on behalf of the Board

Max CozijnCompany Secretary/Director

vendor

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