ASPEN GROUP — Director's Dealing 2010

Sep 5, 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	Reginald Gillard
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	25 August 2010
No. of securities held prior to change	2,656,823 Stapled Securities
Class	Stapled Securities
Number acquired	16,649 Stapled Securities
Number disposed
Value/Consideration	$0.4472 cents per stapled security
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	2,673,472 Stapled Securities
Nature of change	Distribution Reinvestment Plan
Example: on-market trade, off-market trade, exercise of options, issue
of securities under dividend reinvestment plan, participation in buy-
back

• 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

==> picture [433 x 316] intentionally omitted <==

----- Start of picture text ----- Detail of contractNature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuationInterest after change----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2

30/9/2001