SPENDA LIMITED — Capital/Financing Update 2011

Nov 28, 2011

Australia Office P: +61 3 9804 7797 [Type a quote from the document or the summary of an interesting point. You can position the text Level 5, 15-19 Claremont St F: + 61 3 9827 7288 box anywhere in the document. Use the Drawing Tools tab to change the formatting of the pull South Yarra VIC 3141 : 099 084 143 quote text box.]

29 November 2011

ASX Announcement

Market Update

The Board of Directors of Motopia Ltd (ASX:MOT) ( the Company ) provides the following update to its shareholders and the market in respect to the ongoing strategic review of its existing business units and the potential acquisition of new assets.

As announced on 21 November 2011 the Company's has placed its non-performing subsidiaries Zeal Entertainment Pty Ltd and mConnect Pty Ltd into liquidation.

Due to the current state of the global equity markets, toughening economic conditions and following a handful of unsolicited enquiries from external third parties, the Board has resolved that it will immediately undertake a process to realise maximum value from its remaining digital assets for the benefit of shareholders. This will include a change in the Company’s asset strategy and will most likely result in the Company divesting (in accordance with all ASX Listing Rule requirements) with all or part of its ownership in its remaining digital assets in an attempt to bring in new working capital and realise long term value for shareholders.

In addition, the Board has started a process of considering new opportunities for the acquisition of alternative assets within the same or an alternative industry, which may include the mining industry. The Board has received a number of proposals within the mining industry and will investigate whether these proposals are in the interest of, and will return, value to shareholders.

If the Company does proceed down this path, the Company will be required to seek shareholder approval to change the nature and scale of the Company's activities and the Company will be required to meet the requirements of Chapters 1&2 of the ASX Listing Rules.

The Company will continue to keep shareholders and the market appraised of its activities.

==> picture [596 x 75] intentionally omitted <==