SPACETALK LTD — Capital/Financing Update 2010

Nov 30, 2010

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

Announcement – Results of SPP

December 1, 2010

The directors of MGM Wireless Ltd are pleased to advise that its recently closed Share Purchase Plan that it received applications for 18.15m shares which at the issue price raised $154,275. Shares in relation to these applications are expected to be mailed to shareholders early next week.

The directors consider that this was a pleasing result given the current state of eq uity markets.

As noted in the SPP documentation the funds will be applied to:

• Assist with rollout of new products;

• Strengthen working capital; and

• Assist with payment due to former distributor.

With the improving trading conditions and the result of the SPP, MGM Wireless Ltd anticipates having sufficient working capital to maintain and grow its operations with no immediate need to raise any further capital.

Chris Peirce Company Secretary

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless Ltd is a public company with a market capitalisation of A$ 1.5 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

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