Form of Proxy

AUSTRALIAN STRATEGIC MATERIALS LTD

BD Client Code:

Client Name:

Number of Shares Held in a BD Nominee Company:

No.	Proposition		For	Against	Abstain
1	RATIFICATION OF PLACEMENT SHARES ISSUED UNDER LISTING RULE 7.1
2	ISSUE OF DIRECTOR PARTICIPATION SHARES TO MR IAN GANDEL (AND/OR HIS NOMINEE(S))
3	ISSUE OF DIRECTOR PARTICIPATION SHARES TO MR DOMINIC HEATON (AND/OR HIS NOMINEE(S))