SPACETALK LTD — Earnings Release 2010

May 24, 2010

25 May 2010 Companies Announcement Office Australian Stock Exchange Limited 20 Bridge Street Sydney NSW 2000

2010 Full Year Result Guidance

The board of directors of MGM Wireless Ltd (ASX code: MWR, MWRO) wishes to state that following an assessment of the likely financial result for the year to end June, 2010, the company would like to advise that the result will be materially different from the previous corresponding period.

In order to meet its obligations for continuous disclosure, MGM Wireless reports that the better business conditions encountered in the December half, as reported to the ASX on February 25 of this year, and in the March quarter, as reported in the 4C announcement of April 23, 2010, have continued into the current quarter. Accordingly, the company would like to advise that a net profit is expected for the full year and that the result is likely to fall in the range between a net profit of $ 0.075m to $ 0.1m.

This result compares with a net loss of $0.35m for year ended June 30, 2009, on revenues of $1.887m. The result guidance is before any unexpected one-off adjustments.

MGM Wireless executive Chairman, Mr Mark Fortunatow, commented: "The board believes the expected full year result reflects improving penetration in our key Australian education market and growing market acceptance of MGM's leading edge communications and student attendance solutions for school communities."

"Over the past five years, MGM Wireless has carved out an impressive, market leadership niche in the Australian market and we pride ourselves on high standards of client service and delivery. Our high level of client retention is testament to the hard work of our Adelaide-based service team and our continued dedication to product development and innovation."

For further comment, contact Mark Fortunatow.

Chris Peirce Company Secretary

About MGM Wireless Ltd and Messageyou, LLC

MGM Wireless Ltd is a public company with a market capitalisation of A$ 2.0 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 SMS School communication 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, safety and parent engagement. 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, MWRO) Mark Fortunatow CEO Mobile: +61 421 328 984 Phone: +61 8 8431 2300 Email: mfortunatow@mgmwireless.com Web: www.mgmwireless.com