10 October 2008

CAPE LAMBERT IRON ORE LIMITED

DIRECTOR'S DEALING

Cape Lambert Iron Ore Limited ("the Company") (ASX: CFE, AIM: CLIO) announces that it was notified yesterday (9 October 2008) that Mr Antony William Paul Sage, the Executive Chairman of the Company, bought 1,000,000 ordinary shares on 8 October 2008 for the total consideration of A$413,210.  

Following the above transactions, Mr Sage's beneficial interest in the Company is as set out below:

*Mr Sage's interest in ordinary shares includes 20,504,250 ordinary shares held by EGAS Superannuation Fund in which Mr Sage has a relevant interest, 1,000,000 ordinary shares held in Okewood Pty Ltd, a company in which Mr Sage has a relevant interest and 100,000 ordinary shares in Xyno Pty Ltd, a company in which Mr Sage has a relevant interest.

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