STREAMPLAY STUDIO LIMITED — Board/Management Information 2010

Nov 25, 2010

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Friday 26 November 2010

CHIEF EXECUTIVE OFFICER - CONTRACT TERMINATION

Gippsland Limited [ASX: 'GIP'; FRA: 'GIX'] ('Gippsland' or the 'Company') advises that the Board has today terminated Mr Jack Telford’s contract as Chief Executive Officer. This follows Mr Telford’s resignation as a director of Gippsland and its subsidiaries which was announced earlier today.

The Board will immediately commence the search for a new Chief Executive Officer to take over from Mr Telford in order to ensure that the transition is as seamless as possible. Mr Jon Starink will continue as an executive director responsible for the day-to-day operations of the Company. In addition, the Directors have appointed Mr John Dunlop today to assist John Starink with the running of the Company on a transitional basis.

For further information, please contact:

Ian Gandel Chairman Gippsland Limited T: +61 8 9340 6000

1011126 -ASX Announcement - Gippsland Ltd - Termination of CEO Final

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