ASPEN GROUP — Director's Dealing 2007

Nov 26, 2007

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

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:	Aspen Group
	ABN 50 004 160 927

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	Gavin Hawkins
Date of last notice	18 June 2007

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

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	27 November 2007
No. of securities held prior to change	5,199,523 Stapled Securities
Class	Stapled Securities
Number acquired	5,500,000 Stapled Securities
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$2.6926 cents per stapled security
No. of securities held after change	10,699,523 Stapled Securities
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	Executive Director Long Term Incentive Package

• See chapter 19 for defined terms.

Appendix 3Y Page 1

30/9/2001

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

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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
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• See chapter 19 for defined terms. Appendix 3Y Page 2

30/9/2001