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SANTOS LIMITED Director's Dealing 2003

May 4, 2003

65872_rns_2003-05-04_2e5fe81d-047e-4c88-b73d-9f5507da6f14.pdf

Director's Dealing

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Santos Ltd A.B.N. 80 007 550 923 Santos House Level 29 91 King William Street Adelaide SA 5000 GPO Box 2455 Adelaide SA 5001 Telephone: (08) 8218 5138 Facsimile: (08) 8218 5633

Company Announcements Office To: Australian Stock Exchange Ltd Company Secretary From: Date: 5 May 2003 Subject: Listing Rule 3.19A.2: Appendix 3Y No of pages 3 (incl. this one):

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to $ASX$ as soon as available. Information and documents given to $ASX$ become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity SANTOS LTD
ABN 80 007 550 923

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director Stephen Gerlach
Date of last notice 24 April, 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest Indirect
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Registered Holder: S. Gerlach Pty Ltd
Relevant Interest . The Director is a
shareholder and director of the Registered
Holder.
Date of change 2 May, 2003
No. of securities held prior to change 32,305
Class Fully Paid Ordinary Shares
Number acquired 5,000
Number disposed N/A
Value/Consideration
Note: If consideration is non-cash, provide details and estimated valuation
\$5.57 per share
No. of securities held after change 37,305 Fully Paid Ordinary Shares
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back
On-market purchase

Part 2 - Change of director's interests in contracts : N/A

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract

Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which
interest related prior to change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an
estimated valuation
Interest after change