SPACETALK LTD — AGM Information 2007

Nov 18, 2007

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19 November, 2007

Companies Announcement Office Australian Stock Exchange Limited 20 Bridge Street Sydney NSW 2000

“Welcome to all shareholders and visitors to this, the fifth AGM of MGM Wireless and the largest gathering in our short history.

The past year is one where the company has expanded internationally and taken our market leading school communication technology to the world.

During the year we achieved many milestones, and each one moves the company to a new level – they give our company an edge that any competitor or would-be competitor will find hard to beat.

First is the opening of our American office in Sunnyvale California and the first sales of our Messageyou product to the US school system. As I speak we have signed up more than 10 US schools and are negotiating many more sales to US schools and school districts.

Second, our joint venture in India is up and running with two significant, highly influential schools receiving excellent parent feedback from their implementation of Messageyou. Our partners in India, the Roltin Global group, part of the Makwana family of companies, have been fielding a steady stream of inquiry. India is an extremely large market for our product and we look forward to a long association with the Roltin Group.

Third, MGM Wireless reached agreement with the Western Australian Department of Education and Training to install Messageyou in up to 800 schools across the State, against international competition in an open tender. This is the first ever whole of State agreement and we look forward to taking this model to other State Governments in Australia. To the best of our knowledge, this is the largest deployment of its type in the world, and firmly establishes our leadership in the industry.

Fourth, and perhaps the most significant achievement of the past year in terms of the company‟s future growth, has been the conception -- development -- and now first sales of our latest product, 191ASK School News Channel. School News Channel has the potential to take our company into a new league by solving an age old problem for parents communicating with schools.

Using the simple mobile phone text service, parents can interact with school databases and find answers to immediate and pressing questions – things like “where is my child playing sport today?”, or “what homework assignments are due?” The kind of questions parents ask schools every day. Just by texting 191ASK (191275), parents and students themselves can access information that saves time and answers important questions about school life.

School News Channel was formulated and developed with the close involvement and cooperation of several of Australia‟s most prestigious Independent and Catholic Schools, here in Adelaide, in Sydney and in Perth. We have high expectations for School News Channel. We are already implementing under non-disclosure a number of leading schools – the names of which would be familiar to all of you – and we look forward to announcing the details early in the new year.

School News Channel is a truly innovative product which we are delivering to a willing market place. I look forward to telling you more about School News Channel later.

Messageyou is clearly the leading solution to keeping parents informed about what is happening at school. It‟s not just about informing parents about attendance issues, it‟s about – „keeping our school children safe‟.

Messageyou has demonstrated its value in many ways, from alerting parents of children missing from school to keeping parents informed during extreme weather events, such as the wild weather that hit the NSW Central Coast earlier this year. With the launch of School News Channel, we are also offering the priceless service of reducing stress in our time-poor world.

Today, at MGM, we have a brilliant future with more growth and revenue opportunities than ever before.

We have the track record and a great range of products and services which have demonstrated their value time and time again. We have carefully developed strategic initiatives that have been nurtured over time are now all converging.

USA - India - School News Channel - WA Schools and - very importantly - the development and improvement of our corporate capability and human capital – especially in the areas of business development, sales teams, marketing and management capability -- mean MGM Wireless over the next few years can continue our momentum in sales and revenue growth well into the future.

In closing, on behalf of my fellow Directors and shareholders, I would like to thank Richard Sciano, our non executive Board member who has been a strong supporter, for diligently serving the company for the past 5 years. Richard is retiring from his MGM duties today.

At the same time, I would like to thank John Dawkins, former Federal Education Minister and Treasurer for agreeing to join our Board. Prior to joining the Board, John has been assisting MGM for several years in a consulting role and has been a very valuable contributor. He knows the MGM business well and we look forward to even a closer working relationship with him.

Ends/...

For further information contact:

AUSTRALIA

CEO Mark Fortunatow MGM Wireless Ltd. - (ASX:MWR, MWRO)

Mobile: +61 421 328 984 Phone: +61 8 8431 2300 Email: mfortunatow@mgmwireless.com Web: www.mgmwireless.com, www.messageyou.com

MGM Wireless November 2007 AGM

Forward Looking Statements

Who We Are

We are recognised in Australia as pioneers, experts and market leader in the application of SMS-TEXT technology to effectively improve student attendance. We deliver an integrated suite of software, communications and professional services.

student learning and social outcomes.

Some Facts

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6 major business drivers for 2008 and beyond

Consecutive Annual Revenue Momentum

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$ 2.2 mill
$ 1.9 mill
$ 1.06 mill
$ 0.46 mill
$ 0.047 mill
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Australian School Momentum

1110

WA effect

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400
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500

[106 118 141 161 186 204 225 243][ 260]

[88] 2 10[39][48][71]

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310
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SMS Transmission Momentum

Monthly SMS Centre Transmission

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SMS Volume
300,000
250,000
200,000
150,000
100,000
50,000
0
Month
Sep-04 Dec-04 Mar-05 Jun-05 Sep-05 Dec-05 Mar-06 Jun-06 Sep-06 Dec-06 Mar-07 Jun-07
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Go To Market Model

Products

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g
ouSchools
y ouWatchists
e y
e SMSC
g
g
messa Professional Service
messa Electronic Roll Markin School News Channel
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Strategy

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Major
Account
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Direct Operations MGM BDM’s

Markets

Whole of State Government

Whole of State Systemic Accounts (Catholics, Independents) Regional State Government Schools Regional Systemic (regional archdiocese) Individual Secondary School Sales (Government & Independent)

Financials

Financials

INCOME	2007	2006	2005	2004
Op Revenue	2198	1991	1060	325
Op Profit (loss)	(783)	(630)	(502)	(580)
Net profit (loss)	(783)	(631)	(497)	(580)
EPS (Cents)	(0.46)	(0.41)	(0.34)	(0.56)
BALANCE SHEET	2007	2006	2005	2004
Current Assets	1283	897	927	534
Non Current Assets	773	503	606	782
Current Liabilities	391	303	230	77
Non Current Liabilities	-	-	-	-
Net Assets & Shareholders' Funds	1665	1096	1303	1239
CASH FLOWS:	2007	2006	2005	2004
Cash on hand (at open)	562	649	379	704
Operating Activities	(648)	(381)	(118)	(523)
Investing	(319)	(76)	(40)	55
Financing Activates	1217	372	428	143
Cash on hand at Year end	806	562	649	379

Future Growth

Leading the Company to New Heights 6 significant new business drivers

Driver #1 - USA

U.S. Market Size

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U.S. Market Size Snapshot

Driver #2 - WA Department of Education

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•
Worldwide Tender
•
State-wide agreement
•
Public stated (WA DET) value over 2 years - $ 966,400
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Driver #3 – Growing Australian Momentum

Driver #4 – New Products Ongoing Product Innovation Timeline

Driver #5 – India

India Market Size Snapshot

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© 2006 MGM Wireless Holdings Pty Ltd.

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Australian Innovation Patent No: 2007100840 USA Patent Pending

‘On Demand’ SMS question & answer service for Parents and Students to request the latest school-related news & information

TEXT: *SPORT LOCATION

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TO :

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SEND

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FOOTBALL MATCH LOCATIONS 19/11/2007 TEAM A: WALKERVILE OVAL 8:30 AM B: LEVI PARK 10:30AM C: WALKERVILLE OVAL 10:30AM

FOR MORE SERVICES SMS "*HELP" to 191275 (191ASK) www.schoolnewschannel.com

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TEXT:

*SPORT TEAM

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TO

SEND

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:
Response
19/09/2007
ANDREW: FOOTBALL A
JACKSON: SOCCER C
PAUL: FOOTBALL B
FOR MORE SERVICES SMS
"HELP" to 191275 (191ASK)
www.schoolnewschannel.com
© 2007 MGM Wireless Holdings Pty Ltd.
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www.schoolnewschannel.com © 2007 MGM Wireless Holdings Pty Ltd.

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© 2007 MGM Wireless Holdings Pty Ltd.

Summary

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© 2007 MGM Wireless Holdings Pty Ltd.