SPACETALK LTD — Director's Dealing 2008

Jun 15, 2008

Appendix 3Y

Rule 3.19A.2

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	17December2007

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 relevantinterest.	(a)Mark Fortunatow ATF The AM & JMTrust Trustee and beneficiary(b)PaulaFortunatowATFFortunatowFamily Trust Beneficiary(c)MarkFortunatowATFTheI-BankTrust Trustee and beneficiary
Date of change	16June 2008
No. of securities held prior to change	(a)4,370,124 ordinary shares(b)30,521,000 ordinary shares1,500,000 options (31/01/2010; 7 cents)1,500,000 options (31/01/2010; 9 cents)4,000,000 options (31/01/2011;22 cents)(c)3,851,922 ordinary shares
Class	Ordinary SharesUnlisted options (31/01/2010; 7 cents)Unlisted options (31/01/2010; 9 cents)Unlisted options (31/01/2011; 22 cents)
Number acquired	(a)Nil
Number disposed	(a)5,500,000 Ordinary Shares

+ See chapter 19 for defined terms.

Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$79,999.99
No. of securities held after change	(d)5,512,981 ordinary shares(e)30,521,000 ordinary shares357,143 options (31/01/2010; 7 cents)1,500,000 options (31/01/2010; 9 cents)4,000,000options (31/01/2011;22 cents)(a)3,851,922 ordinary shares
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Exercise of unlisted options

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 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 anestimated valuation
Interest after change

+ See chapter 19 for defined terms.