STREAMPLAY STUDIO LIMITED — Capital/Financing Update 2009

Sep 10, 2009

11 September 2009

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FULLY UNDERWRITTEN RENOUNCEABLE RIGHTS ISSUE Entitlement and Acceptance Form Overseas Payment Information

The Directors of Gippsland Limited [ASX: GIP, DB: GIX] (" Gippsland " or " the Company ") confirm that the Prospectus for the fully underwritten renounceable rights issue ("Prospectus") announced on 28 August 2009 will, in accordance with the timetable below, be mailed to shareholders eligible to participate in the issue on 14 September 2009.

Included with the Prospectus shareholders will receive an Entitlement and Acceptance Form, an example of which is attached, which will be mailed to either CHESS or Issuer Sponsored shareholders as appropriate.

The attached Payment Information for Overseas Shareholders will also be provided to overseas shareholders not having access to BPay facilities.

Summary of Important Dates*
Announcement of Rights Issue	28 August 2009
Lodge Prospectus with ASIC and ASX	28 August 2009
Notice sent to shareholders containing information required by Appendix 3B	1 September 2009
"Ex" Date (date Shares quoted ex-rights)	2 September 2009
Rights trading commences	2 September 2009
Record Date to determine Entitlements (5.00pm AWST)	8 September 2009
Opening Date/Dispatch of Prospectus (9.00am AWST)	14 September 2009
Rights trading ends	21 September 2009
Closing Date for acceptances & receipt of applications under the Rights Issue (5.00pm AWST)	28 September 2009
Closing date for acceptance & receipt of applications for the Shortfall by Underwriter	1 October 2009
Notification to ASX of Shortfall	1 October 2009
Allotment of New Shares	7 October2009
Trading on ASX in the New Shares to commence	8 October 2009
* These dates are indicative only. The Directors reserve the right to vary the key dates, without prior notice and subject to compliance with the Corporations Act, the Listing Rules and other applicable law to cancel the Offer, close the Offer early, or accept late applications, either generally or in a particular case.

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RJ (Jack) Telford Director, Chief Executive Officer

1 ASX 090911 Payment Information for overseas shareholders

ENTITLEMENT AND ACCEPTANCE FORM

THIS DOCUMENT IS IMPORTANT. IF YOU ARE IN DOUBT AS TO HOW TO DEAL WITH IT, PLEASE CONTACT YOUR STOCKBROKER OR LICENSED PROFESSIONAL ADVISOR.

GIPPSLAND LIMITED

REGISTERED OFFICE: SUITE 4 207 STIRLING HIGHWAY CLAREMONT WA 6010 AUSTRALIA

ABN 31 004 766 376

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SHARE REGISTRY: Security Transfer Registrars Pty Ltd All Correspondence to: PO BOX 535, APPLECROSS WA 6953 AUSTRALIA 770 Canning Highway, APPLECROSS WA 6153 AUSTRALIA T: +61 8 9315 2333 F: +61 8 9315 2233 E: registrar@securitytransfer.com.au W: www.securitytransfer.com.au

Code: GIP

Holder Numb er:

Holding as at 5.00p m AWST on 8 Septe mber 2009 : Entitlement to New Shares 2:7: Amount p ayable on acceptance @ $0.032 per Security: RENOUNCEABLE SHARE OFFER CLOSING AT 5.00PM AWST ON 28 SEPTEMBER 2009 IMPORTANT NOTICE: HOLDERS WHOSE EXISTING SECURITIES ARE HELD ON THE CHESS SUBREGISTER AS DETAIL ED ABOVE SHOULD IN THE FIRST INSTANCE CO NTACT THEIR SPONSORING STOCKBROKER/AGENT IN RESPECT OF ANY PROPOSED ON-MARKET SALE OF THEIR RIGHTS. RIGHTS TRADING C OMMENCED ON 2 SEPTEMBER 2009 AND IS E XPECTED TO CEASE ON 21 SEPTEMBER 2009. THE RIGHTS REFERRED TO IN THIS FORM MAY BE TRANSFERRED ELECTRONICALLY ON CHESS B Y SURRENDERING THE ENTITLEMENT A ND ACCEPTANCE FORM TO YOUR SPONSORING STOCKBROKER BEFORE RIGHTS CEASE TRADING. THIS ENTITLEMENT AND ACCEPTANCE F OR M SHOULD NOT BE RELIED UPON AS EVIDEN CE OF THE CURRENT ENTITLEMENT OF THE PERSON NAMED IN THIS ENTITLEMENT AND ACCEPTANCE FORM. (1) I/We the above named being registered at 5.00pm AWST on the 8 SEPTEMBER 2009 as holder(s) of Sec urities in t he Company her eby accept as follows: NUMBER OF NEW SHARES AMOUNT ENCLOSED ACCEPTED/APPLIED FOR @ $0.032 PER NEW SHARE Entitlement or Part Thereof , , $ , , . Additional New Shares * max amt -as per your entitlement , , $ , , . TOTAL , , TOTAL $ , , . ( refer to section 1.8 of the prospectus) (2) I/We have enclosed/made payment for a mount shown above (following the payment instructions as detailed overleaf). (3) I/We hereby authorise you to place m y/our name(s) on the register of members in respect of the number of New Shares allotted to me/us. (4) I/We agree to be bound by the Co nstitution of the Company. (5) I/We understand that if any info rmation on this form is not completed correct ly, or if the accompanying payment is for the wrong amount, it may still be accepted. Any decision of the Directors as to whether to a ccept this form, and how to construe, amend or complete it shall be final. (6) I/We authorise the Comp any to send me/us a substituted form if this f orm ceases to be current. (7) I/We declare that I/we have received a full and unaltered version o f the Prospectus either in an electronic or paper format. (8) My/Our contact de tails in case of enquiries are: NAME TELEPHONE NUMBER ( ) EMAIL ADDRESS @ RETURN OF THIS DOCUMENT WITH THE REQUIRED REMITTANCE WILL CONSTITUTE YOUR ACCEPTANCE OF THE SECURITIES BEING OFFERED. REGISTRY DATE STAMP PAYMENT INFORMATION - Please also refer to payment instructions overleaf. CHEQUE/MONEY ORDER Biller Code: 117226 All cheques (expressed in Australian currency) are Ref: to be made payable to GIPPSLAND LIMITED - SHARE ISSUE ACCOUNT and crossed "Not BPAY®* this payment via internet or phone banking for Negotiable". Australian shareholders only. E & O.E.

6388571367

GIPR

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LODGEMENT INSTRUCTIONS

8411571366

PAYMENT INSTRUCTIONS

CHEQUE/MONEY ORDER

Biller Code: 117226

All cheques should be drawn on an Australian bank and expressed in Australian currency and crossed "Not Negotiable".

Sufficient cleared funds should be held in your account as your acceptance may be rejected if your cheque is dishonoured.

If your registered address is outside Australia you will not be able to use BPAY® to make your payment.

Bank drafts drawn on overseas banks in any foreign currency will NOT be accepted. Any such cheques will be returned and the acceptance deemed to be invalid.

BPAY® this payment via internet or phone banking. Your reference number is quoted on the front of this form.

Multiple acceptances must be paid separately.

Do not forward cash as receipts will not be issued.

Applicants should be aware of their financial institution's cut-off time (the time payment must be made to be processed overnight). It is the Applicant's responsibility to ensure funds are submitted correctly by the closing date and time.

When completed, this form together with t he appropriate payment

should be forwarded to the share regis try:

Applicant's responsibility to ensure funds are submitted correctly by the closing date and time. Security Transfer Registrars Pty L td You do not need to return this form if you have made payment via PO Box 535, APPLECROSS WA 6953. BPAY. Applications must be received by Security Transfer Registrars Pty Your BPAY reference number will process your payment to your Ltd no later than 5.00pm AWST on the closing date. entitlement electronically and you will be deemed to have applied for such Securities for which you have paid. SALE OF YOUR ENTITLEMENT BY YOUR STOCKBROKER IN FULL OR IN PART - If you h ave purchased or sold Securities prior to 5.00pm on These instructions will need to be with your Stockbroker in sufficient 1 Sept ember 2009 (being the last day for tra ding on a cum rights time to sell your Rights. Rights trading commenced on 2 September entitlemen t basis) and this is not reflected in your holding shown 2009 and is expected to cease on 21 September 2009. overl eaf, you should consult the Stock broker who acted for you to protect y our entitl ements or determ ine the action you should take. If you To sell your entitlement, complete the panel below titled "Instructions to have sold a ll your S ecurities, co mplete the details below and forward your Stockbroker" and forward this form to your Stockbroker with this form to the stockbr oker who acted for you. sufficient time to sell your Rights before the last day of Rights trading. To sell part of the balance of your entitlement, complete the front of this Broker: form as to the New Securities being accepted and forward it t ogether with your payment to your Stockbroker with sufficient time to sell your Rights before the last day of Rights trading (see payme nt instructions No. of Secu rities Sold: above). Your Stockbroker will then lodge your acce ptance and cheque with the Company's share registry. H older No.: INSTRUCTIONS TO YOUR STOCKBROK ER To be completed and sent to your St ockbroker only if you wish to sell IMPORTANT NOTICE TO HOLDERS WITH SECURITIES ON THE the whole or part of your Entitlem ent. CHESS SUB-REGISTER- Holders whose existing Securities are held on the CHESS Sub-register I/We have accepted Rights (as per overleaf ) as detailed overleaf should, in the first instance, contact their and have attached/ being applicatio n money at sponsoring Broker in respect of any proposed sale of their Rights. made payment fo r $0.032 per R ight. GENERAL INFORMATION PLEASE S ELL Rights Entitlements either not accepted and/or renounced by 5.00pm AWST on This instruction * has / has not previously bee n notified to you. the closing date will revert to the Company and the New Shares will be * Please delete as appropriate dealt with in accordance with Section 1.8 of the prospectus.

Applications must be received by Security Transfer Registrars Pty Ltd no later than 5.00pm AWST on the closing date.

If you h ave purchased or sold Securities prior to 5.00pm on 1 Sept ember 2009 (being the last day for tra ding on a cum rights entitlemen t basis) and this is not reflected in your holding shown overl eaf, you should consult the Stock broker who acted for you to protect y our entitl ements or determ ine the action you should take. If you have sold a ll your S ecurities, co mplete the details below and forward this form to the stockbr oker who acted for you. Broker:

Holders whose existing Securities are held on the CHESS Sub-register as detailed overleaf should, in the first instance, contact their sponsoring Broker in respect of any proposed sale of their Rights.

Entitlements either not accepted and/or renounced by 5.00pm AWST on the closing date will revert to the Company and the New Shares will be dealt with in accordance with Section 1.8 of the prospectus.

ENQUIRIES All enquiries should be directed to the Company's share registry:

DISPOSAL OF YOUR ENTITLEMENT OTHER THAN THROUGH A STOCKBROKER-

A Standard Renunciation or Transfer Form must be used for all disposals of entitlements other than through a Stockbroker. These may be obtained from your Stockbroker or our share registry, Security Transfer Registrars Pty Ltd.

Security Transfer Registrars Pty Ltd

PO Box 535, Applecross WA 6953 AUSTRALIA 770 Canning Highway, Applecross WA 6153 AUSTRALIA

The Renunciation or Transfer Form must be completed by the offeree as seller and by his/her nominated buyer. The duly completed Renunciation or Transfer Form should then be lodged with the Company's share registry by 5.00pm AWST on 28 September 2009 together with this form and application money payable (from the buyer).

Telephone +61 8 9315 2333 Facsimile +61 8 9315 2233 Email registrar@securitytransfer.com.au

PRIVACY STATEMENT

Personal information is collected on this form by Security Transfer Registrars Pty Ltd as the registrar for securities issuers for the purpose of maintaining registers of securityholders, facilitating distribution payments and other corporate actions and communications. Your personal details may be disclosed to related bodies corporate, to external service providers such as mail and print providers, or as otherwise required or permitted by law. If you would like details of your personal information held by Security Transfer Registrars Pty Ltd or you would like to correct information that is inaccurate please contact them on the address on this form.

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PAYMENT INFORMATION FOR OVERSEAS SHAREHOLDERS

As the BPAY payment facility is only available to Australian shareholders, the following payment methods will be offered to all eligible overseas shareholders:

CHEQUE

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All cheques (expressed in Australian currency) are to be made payable to GIPPSLAND LIMITED – SHARE ISSUE ACCOUNT, crossed “Not Negotiable” and mailed together with the completed Entitlement and Acceptance Forms as applicable to:

Security Transfer Registrars Pty Ltd PO Box 535 APPLECROSS WA 6953 Australia

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Sufficient cleared funds should be held in your account as your acceptance may be rejected if your cheque is dishonoured.

Bank drafts drawn on overseas banks in any foreign currency will NOT be accepted. Any such cheques will be returned and the acceptance deemed to be invalid.

DIRECT DEPOSIT TO GIPPSLAND LIMITED BANK ACCOUNT

Funds from overseas shareholders may be deposited directly to:

BANK NAME: ANZ BANKING GROUP LTD ACCOUNT NAME: details to be provided with prospectus mailing SWIFT CODE: details to be provided with prospectus mailing BSB: details to be provided with prospectus mailing ACCOUNT NUMBER: details to be provided with prospectus mailing

REFERENCE TO ACCOMPANY PAYMENT : Please quote the Name of the registered holder that is pre printed on the front of your Entitlement and Acceptance Form as a reference to accompany your direct deposit.

If you use this payment method you must post, fax or scan and email a copy of your completed Entitlement and Acceptance Form together with a copy of your bank deposit receipt, date payment was made and reference used to our Share Registry as confirmation of your acceptance at:

POST: Security Transfer Registrars Pty Ltd PO Box 535 Applecross WA 6953 AUSTRALIA FACSIMILE +61 8 9315 2233 EMAIL: registrar@securitytransfer.com.au

Payment Information for overseas shareholders

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