SPACETALK LTD — Capital/Financing Update 2010

Oct 13, 2010

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

14 October 2010 Share Purchase Plan

MGM Wireless Limited (MGM Wireless) announced on 14 October 2010 that a Share Purchase Plan (SPP) would be offered to eligible shareholders. The SPP offer will open on 15 October 2010.

Pursuant to ASIC Class Order [CO 09/425], MGM Wireless gives notice that:

• 1. MGM Wireless will make an offer to eligible shareholders to subscribe up to $8,500 for fully paid ordinary shares under the SPP (SPP Shares) and the issue of SPP Shares will be without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth) ("Corporations Act").
• 1. MGM Wireless is giving this notice under ASIC Class Order [CO 09/425].
• 1. As at today's date, MGM Wireless has complied with provisions of Chapter 2M and section 674 of the Corporations Act as the apply to MGM Wireless.
• 1. As at today's date, there is no information that:
  • a) MGM Wireless has excluded from a continuous disclosure notice in accordance with the listing rules of ASX; and
  • b) that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:
    • i) the assets and liabilities, financial position and performance, profits and losses, and prospects of MGM Wireless ; or
    • ii) the rights and liabilities attaching SPP Shares.

Chris Peirce Company Secretary

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless Ltd is a public company with a market capitalisation of approximately A$ 2.2 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 Executive Chairman Phone: +61 8 8104 9508 Email: mfortunatow@mgmwireless.com Web: www.mgmwireless.com