STREAMPLAY STUDIO LIMITED — Capital/Financing Update 2010

Sep 30, 2010

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Friday 1 O ctober 201 0

PLACEMENT TO RAISE $3.2 MILLION

Gippsland Limited [ASX: 'GIP'; FRA: 'GIX'] ( 'Gippsland ' or the 'C o mpany') is pleased t o announc e that the Company h a s received firm com m itments fr o m institutional and s o phisticated clients o f Patersons Securities L imited for t he placement of 80 m illion fully paid ordin a ry shares a t $0.04 pe r share to r a ise $3.2 million (befo r e costs).

The net p r oceeds of the capital raising will be used to continue the devel o pment of G ippsland' s flagship a s set, the 44.5 million t o nne Abu D abbab Ta n talum‐Tin‐ F eldspar Pr o ject, and f or workin g capital.

Settlemen t of the c a pital raising is expec t ed to tak e place next week wi t h holding statement s dispatche d shortly thereafter. S imultaneo u s with set t lement, Gippsland will lodge wi t h ASIC an d ASX a pro s pectus for the purpose of facilit a ting the secondary tr a ding of th e se 80,000, 0 00 shares . The new s hares wh e n issued w ill rank equally with the Comp a ny's existi n g ordinar y shares o n issue.

The Comp a ny will iss u e an App e ndix 3B N e w Issue Announceme n t in relati o n to the pl a cement o f the 80,00 0 ,000 share s and their q uotation o n ASX.

For further information, please contact:

Jack Telfo r d

Director ‐ C hief Executive Office r Gippsland Limited T: +61 8 9340 6000

• M: +61 4 1 8 911 928

• E: rjtelford@bigpo n d.com

1 ASX 101001 Cap i tal Raising $320 0 000