SPACETALK LTD — Director's Dealing 2005

Jun 2, 2005

$\frac{3}{2}$ 3.JUN.2005 $\frac{1}{2}$ 17:12

MASX-ADELAIDE LISTING +61884312400

The Parks, Suite 13 154 Fullarion Road Rose Park SA 5067 P: 08 8431 2300 F: 08 8431 2400 W. www.mgmwireless.com ABN 29 104 182 42

Australian Stock Exchange Limited 91 King William Street Adelaide SA 5000 Fax 08 8216 5099

Dear Sir

Re: Change of Directors Interest - Mr Mark Fortunatow

Please be advised that Mr Fortunatow has sold 1 million shares in MGM Wireless Ltd on market to staff and consultants of MGM Wireless Limited.

These shares were issued to Mr Fortunatow in lieu of wages.

This is one off sale and Mr Fortunatow has no intention of selling more shares in the near future.

Please do not hesitate to contact me on 08 8431 2300 if there are any queries.

Yours faithfully

Mark Fortunatow Managing Director MGM WIRELESS LIMITED

ROELASM 3JUN'85pm 45%

$3.3$ JUN.2005 $117:13$ WASX-ADELAIDE LISTING +61884312400

Rule 3.19A.2

д,

$\cdot$

ξŽ.

Appendix 3Y $\mathcal{N}=\mathcal{N}$

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

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	27/10/2004

Part 1 - Change of director's relevant interests in securities In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: in the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	(a) Mark Fortunatow ATF The AM &JM TrustTrustee and beneficiary(b) Paula Fortunatow ATFFortunatow Family TrustBeneficiarv(c) Mark Fortunatow ATF The I-BankTrust Trustee and beneficiary
Date of change	30th May, 2005
No. of securities held prior to change	(a) 9,870,124(b) $25,661,000$(c) 4,851,922
Class	Ordinary Shares
Number acquired	(a) Nil(b) Nil(c) Nil
Number disposed	1,000,000
Value/ConsiderationNote: If consideration is non-tash, provide details and estimated valuation.	$27,000
No. of securities held after change	(a) 9,670,124(b) 25,661,000(c) 3,851,922

$\overline{1}$

$\overline{a}$

Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend remvestment plan, participation in buy-back	On-market trade

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should bedisclosed in this part.

Detail of contract
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details and anestanted valuation.
Interest after change