14 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 today (14 October 2008) that Mr Antony William Paul Sage, the Executive Chairman of the Company, bought 111,710 ordinary shares on 10 October 2008 for the total consideration of A$43,008.35.  

Following the above transaction, 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, 1,111,710 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.

For more information please contact:

• News Channel