SPACETALK LTD — Capital/Financing Update 2012

Nov 27, 2012

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ASX Market Announcements ASX Limited 20 Bridge Street Sydney NSW 2000

ASX Release MGM Wireless Ltd

Wednesday 28 November 2012

BUSINESS UPDATE

The Directors of MGM Wireless (MWR:ASX) have formed the view after extensive review of the company’s cash flow outlook and anticipated performance over the next year that the company is likely to be in a position to be able to support dividend payments to shareholders soon.

Directors consider it would be prudent to defer a final decision in this regard until the middle of calendar 2013 when a clearer picture of the full year results will be apparent and the company is given time to further strengthen its Balance Sheet and build cash reserves to support an ongoing dividend program. Furthermore, the Directors would also like to see certainty regarding the status of several key contracts with existing clients that are coming up for renewal during the next 6 months before a final decision is made.

In other developments, support for MGM Wireless’ products and services amongst both government and independent schools continues to grow. The company now supplies over 940 schools with SMS text messaging services which enables schools to rapidly and effectively communicate with parents regarding attendance, security, logistics and school events.

The 2013 financial year has commenced strongly and indications are that revenues and profit for the six months ending December 2012 will be well ahead of the same period last year.

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless is recognized in Australia and internationally as a pioneer of socially responsible technology-enabled school communications with a proven track record to design, develop and successfully commercialise innovative world class technology products in Australia and internationally.

The company’s patented SMS School communication solutions empower schools to effectively communicate to parents and caregivers using SMS text messaging to improve student attendance, welfare, safety and parent engagement. Measurable benefits for schools include reduced operating costs, increased productivity and improved parent and community engagement which ultimately improve student learning and social outcomes.

Over 940 schools in Australia, New Zealand and the United States use messageyou software in their day to day operations.

For further information contact: MGM Wireless Ltd. - (ASX:MWR) Mark Fortunatow, CEO Mobile: +61 421 328 984 Phone: +61 8 8431 2300 Email: mfortunatow@mgmwireless.com Web: www.mgmwireless.com