ASPEN GROUP — Director's Dealing 2015

Mar 3, 2015

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Level 3, 129 St Georges Tce Perth WA 6000 PO Box Z5025, St Georges Tce Perth WA 6831 T +61 8 9220 8400 F +61 8 9220 8401 w www.aspengroup.com.au

4 March 2015

ASX Market Announcements ASX Limited Level 40, Central Park 152- 158 St George’s Tce PERTH WA 6000

Dear Sirs

APPENDIX 3Y – Change in Director’s Interest Notice

The attached Appendix 3Y is provided to record a change in director’s interest of Frank Zipfinger in Aspen Group stapled securities.

Attention is drawn to the number of securities held prior to the change which notes previous instances (dating from 2011 and 2012) where an indirect interest was mistakenly recorded as a direct interest, with respect to 80,000 stapled securities held by ZFT Investments Pty Ltd. The total number of stapled securities held was correctly shown at all times.

The Appendix 3Y lodged today corrects the split between a direct and an indirect interest and represents the correct information.

Yours faithfully

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Eric Lee Company Secretary

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	Frank Zipfinger
Date of last notice	26 February 2015

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	Indirect
Nature of indirect interest	ZFT Investments Pty Ltd
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	i)	2 March 2015
	ii)	4 March 2015
No. of securities held prior to change	150,000 Stapled Securities being:
	i)	70,000 Stapled Securities – direct
		interest as previously disclosed
	ii)	80,000 Stapled Securities –
		reclassified as indirect interest
Class	Stapled	Securities
Number acquired	20,000 Stapled Securities being:
	i)	19,056 Stapled Securities on
		2 March 2015
	ii)	944 Stapled Securities on 4 March
		2015
Number disposed	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 1

30/9/2001

Appendix 3Y Change of Director’s Interest Notice

	Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	i)$1.26 per Stapled Security on2 March 2015ii)$1.275 per Stapled Security on4 March 2015	i)$1.26 per Stapled Security on2 March 2015ii)$1.275 per Stapled Security on4 March 2015	i)$1.26 per Stapled Security on2 March 2015ii)$1.275 per Stapled Security on4 March 2015	i)$1.26 per Stapled Security on2 March 2015ii)$1.275 per Stapled Security on4 March 2015
	No. of securities held after change					170,000 Stapled Securities being:iii)70,000 Stapled Securities – direct
							interestiv)100,000 Stapledi	Securities – indirect
							nterest
	NatExamissuebuy-b	ure of changeple: on-market trade, oof securities under dividack	ff-market tradend reinvestm	e, exerciseent plan, pa	of options,rticipation in		On-market trade

Part 2 – Change of director’s interests in contracts

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 N/A 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

Appendix 3Y Change of Director’s Interest Notice

Part 3 – Closed Period

Were the interests in the securities or contracts No detailed above traded during a closed period where prior written clearance was required? If so, was prior written clearance provided to allow the N/A trade to proceed during this period? If prior written clearance was provided, on what date N/A was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 3

30/9/2001