SPACETALK LTD — Capital/Financing Update 2010

Jul 19, 2010

20 July 2010 Companies Announcement Office Australian Stock Exchange Limited 20 Bridge Street Sydney NSW 2000

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Updated 2010 Full Year Result Guidance

The board of directors of MGM Wireless Ltd (ASX code: MWR, MWRO) wishes to inform shareholders and investors that following an revised assessment, the likely financial results for the year to end June 2010 will be materially different and better than previously announced on 25 May, 2010.

In order to meet its obligations for continuous disclosure, MGM Wireless reports that positive business conditions continued throughout the June half. Accordingly, the company is upgrading the profit forecast of net profit to $0.1m to $0.15m for the full year to June 30, 2010, as compared to $0.075m to $0.1m previously advised on 25 May, 2010.

This result compares with a net loss of $0.35m for year ended June 30, 2009. This result guidance is before any unexpected one-off adjustments.

MGM Wireless executive Chairman, Mr. Mark Fortunatow, commented: “We are pleased with the result, which reflects MGM’s business strategy to deliver both profit and revenue improvement, whilst simultaneously reducing customer end user pricing, increasing sales volumes and building a larger, more diverse customer base.”

For further comment, contact Mark Fortunatow.

Chris Peirce Company Secretary

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 SMS School communication 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, safety and parent engagement. 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