SPACETALK LTD — Capital/Financing Update 2009

Jul 1, 2009

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

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Placement of Shares

July 2, 2009

The Board of Directors of MGM Wireless Limited (‘MGM”) is pleased to announce the completion of a capital raising to support the accelerated rollout of its School Communication systems.

MGM is experiencing continued and sustained increase in the number of new schools purchasing its solutions, and the placement will strengthen the company’s financial resources to support this growth.

Share Placement

MGM has raised $ 149,000 in new equity through a placement of 16,555,555 fully paid ordinary shares at $ 0.009.

The placement was arranged by Hanumans Private Wealth to a number of professional investors.

The funds raised from the issue are to be used by MGM primarily for working capital purposes and to assist in the marketing and sales of the company’s products to schools.

Any shares issued in the placement will rank equally with existing ordinary shares on issue. An Appendix 3B will follow. The shares will be issued under the company’s ability to issue up to 15% in new shares under listing rule 7.1 Therefore; shareholder approval will not be sought.

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless Ltd is a public company with a market capitalisation of A$ 2.0 m listed on the Australian Securities Exchange (ASX code: MWR). The company trades as Messageyou, LLC in the United States, with its head office in Silicon Valley at Sunnyvale, Cal.

The company’s patented School Attendance Management solutions empower schools to effectively communicate to parents and caregivers using SMS text messaging in combination with culturally sensitive communication to improve attendance, student welfare and safety. MGM Wireless is recognized in Australia and internationally as pioneers and market leaders. MGM’s professional services team delivers an integrated suite of software and communications using its own infrastructure. The solutions enable schools to reduce costs, increase productivity, discharge their duty of care, engage parent involvement, and ultimately improve student learning and social outcomes. Schools in Australia, New Zealand and America use Messageyou software in their day to day operations.

For further information contact:

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

MGM Wireless Ltd. - (ASX:MWR, MWRO) Hanuman Private Wealth Mark Fortunatow Tony Gordon CEO CEO Mobile: +61 421 328 984 Phone: +61 2 8252 5588 Phone: +61 8 8431 2300 Email: mfortunatow@mgmwireless.com Web: www.mgmwireless.com