SPACETALK LTD — Director's Dealing 2011

Mar 30, 2011

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

Announcement – Change of Directors Interests

March 31, 2011

Please find corrected announcement in relation to director M Fortunatow's interests.

Chris Peirce Company Secretary

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless Ltd is a public company with a market capitalisation of A\$ 1.7 m listed on the Australian Securities Exchange (ASX code: MWR). The company trades as Messageyou, LLC in the United States, with its head office in Silicon Valley at Sunnyvale, Cal.

The company's patented School Attendance Management solutions empower schools to effectively communicate to parents and caregivers using SMS text messaging in combination with culturally sensitive communication to improve attendance, student welfare and safety. MGM Wireless is recognized in Australia and internationally as pioneers and market leaders. MGM's professional services team delivers an integrated suite of software and communications using its own infrastructure. The solutions enable schools to reduce costs, increase productivity, discharge their duty of care, engage parent involvement, and ultimately improve student learning and social outcomes. Schools in Australia, New Zealand and America 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

Rule 3.19A.2

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 30/09/01 Amended 01/01/11

Name of entity	MGM Wireless Ltd
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	31 January 2011

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 (d) Mark Fortunatow & Paula Fortunatow ATF Fortunatow Family Superannuation Account – trustee and beneficiary
Date of change	28 March 2011
No. of securities held prior to change	(a) 4,470,124 ordinary shares, (b) 32,063,857 ordinary shares (c) 1,551,922 ordinary shares (d) 2,100,000 ordinary shares 5,000,000 options expiring 30/4/2013 with an exercise price of 2c
Class	Refer above
Number acquired	(d) 2,269,772 ordinary shares
Number disposed	(b) 2,269,772 ordinary shares

⁺ See chapter 19 for defined terms.

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$116,893.26
No. of securities held after change	(a) 4,470,124 ordinary shares, (b) 32,063,857 ordinary shares, (c) 1,551,922 ordinary shares, (d) 2,100,000 ordinary shares, 5,000,000 options expiring 30/4/2013 with an exercise price of 2 cents
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Transfer of shares between indirect interests

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	4,000,000 options expiring 31/1/2011 with an exercise price of 22c (b) 32,063,857 ordinary shares
Name of registered holder (if issued securities)	(c) 1,551,922 ordinary shares (d) 2,100,000 ordinary shares 5,000,000 options expiring 30/4/2013 with an
Date of change	exercise price of 2c
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

Part 3 – +Closed period

Were the interests in the securities or contracts detailed	No
above traded during a +closed period where prior written clearance was required?
If so, was prior written clearance provided to allow the trade to proceed during this period?
If prior written clearance was provided, on what date was this provided?	N/a

⁺ See chapter 19 for defined terms.