SPACETALK LTD — Capital/Financing Update 2010

Nov 18, 2010

==> picture [133 x 136] intentionally omitted <==

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

Announcement – Expiry Of Listed Options

November 19, 2010

MGM Wireless Ltd advises that it will not send the notices required by paragraph 6.1 of Appendix 6A of the ASX Listing rules in respect of 14,103,380 listed options (ASX code MWRO) exercisable at $0.20 on or before 30 November 2010.

While MGM Wireless Ltd will not be sending out the option expiry notices to the holders of the listed options, if the market price for its fully paid ordinary shares exceeds $0.15 before 30 November 2010, the company will immediately send an option expiry notice to all option holders.

Set out below the information required by paragraph 6.1 of Appendix 6A of the ASX Listing rules and which would have been sent to option holders.

• This notice applies to the 14,103,380 options on issue. On exercise, each option entitles the holder to receive one share (14,103,380 shares would be issued if all options were exercised).

• The exercise price of the options is $ 0.20 per option.

• The due date for payment of the options’ exercise price is Tuesday, 30 November 2010.

• If payment of the options’ exercise price is not received by close of business on Tuesday, 30 November 2010, the options will expire and all rights under the options will cease.

• Official quotation of the options will end at the close of trading on Tuesday, 23 November 2010

• The latest available market price of the shares was $0.008 at close of trading on 19 November 2010.

• During the 3 months immediately before the date of this notice:

• The highest price of the shares was $0.013 on November 16, 2010 and

• o The lowest price of the shares was $ 0.007 on October 11, 2010.

• There is no underwriting agreement in existence in respect of the exercise of the options.

Chris Peirce Company Secretary

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless Ltd is a public company with a market capitalisation of A$ 1.8 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