director buying, page-12

re: redport bolsters board and management team wit ASX RELEASE
Company Announcements Office
Australian Stock Exchange Limited
By: ASX Online
3 May 2006

REDPORT BOLSTERS BOARD & MANAGEMENT TEAM WITH URANIUM EXPERT

Redport Limited (“Redport”) (ASX: RPT) today announced the appointment of Mr Peter McNally to its board, adding another world-class experienced uranium expert to its board and executive management team.

Mr McNally’s extensive experience and industry knowledge will assist in fast-tracking development plans for Report’s world-class uranium projects and accelerate the company’s uranium acquisition strategy.

Announcing his immediate appointment as executive director, Redport Chairman Richard Homsany said Mr McNally had been a leading industry figure in both the development and mining of key uranium projects in Australia.

“Mr McNally adds considerable depth to the Redport management group and will play a key role in fast-tracking development of our assets and our uranium acquisition strategy,” Mr Homsany said.
“He will also work closely with Mr Malcolm Mason, another member of our board and management group who has considerable uranium experience, and with our technical team to identify, evaluate and acquire other uranium projects.”

“The Redport board believes Mr McNally’s industry expertise and credentials will assist it to play a significant role in the development of the uranium industry in Australia - to the benefit of the company and its shareholders.”

Mr McNally has been involved in the resources industry for more than 20 years, with a particular focus on uranium exploration and mining. He spent 12 years working for Energy Resources of Australia Ltd (“ERA”), and has worked at the Ranger Mine and as General Manager of the Jabiluka Uranium Project and ERA - ES Pty Ltd, a subsidiary of ERA.

He has held high-level positions with several resources companies and has had significant experience in the development of new projects, management of project teams and the development and implementation of environmental, safety, health, indigenous affairs and community relations programs.

In 1999, while working on the Jabiluka Uranium Project in the Northern Territory, Mr McNally led a project development team that conducted comprehensive consultations and negotiations with stakeholders and undertook extensive technical and economic studies that led to the successful re-positioning of this project.

Mr McNally also spent considerable time with North Limited and ERA, where he established and managed the various environmental, government and community relations programs - most significantly for Australia’s largest uranium producing mine at Ranger in the Northern Territory.

His remuneration will include, subject to shareholder approval and any other approvals required at law, the grant of 2,500,000 options to acquire fully paid ordinary shares in the Company exerciseable at 12 cents on or before 30 June 2009, which vest on 1 November 2006 subject to his continued employment at that date.

Yours sincerely
Richard Homsany
Chairman
Redport Limited