SPACETALK LTD — Director's Dealing 2004

Oct 26, 2004

Appendix 3Y

Change of Director's Interest Notice

Name of entity	MGM Wireless Limited
ABN	93 091 351 530

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Mark Fortunatow
Date of last notice	10 May 2004

Part 1 - Change of director's relevant interest in securities

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)	Mark Fortunatow ATF The AM & JM(a)TrustTrustee and beneficiary
	Paula Fortunatow ATF Fortunatow Family(b)TrustBeneficiary
	Mark Fortunatow ATF The I-Bank Trust(c)Trustee and beneficiary
Date of change	18 October 2004
No. of securities held prior to change	15,782,500(a)(b) $25,661,000$4,851,922(c)
Class	Ordinary shares
Number acquired	$(a)$ Nil$(b)$ NilNil(c)
Number disposed	(a) $5,912,376$$(b)$ Nil$(c)$ Nil

Value/Consideration	Transfer of beneficial ownership
No. of securities held after change	9,870,124(a)25,661,000(b)4,851,922(c)
Nature of change	Off-market transfer

Part 2 - Change of director's interests in contracts

Detail of contract
Nature of interest
Name of registered holder(if securities issued)
Date of change
No, and class of securities towhich interest related priorto change
Interest acquired
Interest disposed
Value/Consideration
Interest after change