ASPEN GROUP — Director's Dealing 2010

Sep 30, 2010

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	29 June 2009

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	1 October 2010
No. of securities held prior to change	23,672,466 Stapled Securities
Class	Stapled Securities
Number acquired
Number disposed	5,500,000 stapled securities
Value/Consideration	N/A
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	18,172,466 Stapled Securities
Nature of change	5,500,000 stapled securities forfeited
Example: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back	under the Aspen Group Executive LongTerm Incentive Plan (as approved by
	shareholders on 23 November 2007) as
	performancehurdles werenotmet.

• 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

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

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

30/9/2001