SPACETALK LTD — Director's Dealing 2007

Nov 8, 2007

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9 November 2007

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

Please be advised that Mr. Fortunatow has sold 5,500,000 shares in MGM Wireless Ltd on market for the purpose of raising funds to exercise 2,500,000 options that expire on December 31[st] , 2007 as well as to make personal tax payments.

This is a one-off exercise and Mr. Fortunatow has no intentions to sell any further shares in the near future.

Appendix 3Y Change of Director’s Interest Notice

Appendix 3Y

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	5 November 2007

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 the relevant interest.	(a) Mark Fortunatow ATF The AM & JM Trust Trustee and beneficiary (b) Paula Fortunatow ATF Fortunatow Family Trust Beneficiary (c) Mark Fortunatow ATF The I-Bank Trust Trustee and beneficiary
Date of change	5 November 2007
No. of securities held prior to change	(a) 9,870,124 ordinary shares (b) 28,021,000 ordinary shares 2,500,000 options (31/12/2007; 3 cents) 1,500,000 options (31/01/2010; 7 cents) 1,500,000 options (31/01/2010; 9 cents) (c) 3,851,922 ordinary shares
Class	Ordinary Shares Unlisted options (31/12/2007; 3 cents) Unlisted options (31/01/2010; 7 cents) Unlisted options (31/01/2010; 9 cents)
Number acquired	(a) Nil
Number disposed	(a) 5,500,000 Ordinary Shares

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$715,000
No. of securities held after change	(d) 4,370,124 ordinary shares (e) 28,021,000 ordinary shares 2,500,000 options (31/12/2007; 3 cents) 1,500,000 options (31/01/2010; 7 cents) 1,500,000 options (31/01/2010; 9 cents) (a) 3,851,922 ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment 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 be disclosed in this part.

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

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002