STREAMPLAY STUDIO LIMITED — Director's Dealing 2003

Jun 23, 2003

Appendix 3Y

Change of Director's Interest Notice

Name of entity	GIPPSLAND LIMITED
ABN	31 004 766 376

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Robert John TELFORD
l Date of last notice l	17 March 2003

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct Interest
Nature of indirect interest (including registered holder).	Being a Director of Telford Investments Pty Ltd Telford RJ Telford RK Superannuation Fund
Date of change	19 June 2003
No. of securities held prior to change	13,285,695 Fully Paid Ordinary Shares 6,758,280 Quoted Options 4,750,000 Unquoted Options
Number acquired	297,000 Fully Paid Ordinary Shares
Number disposed	Nil
Value/Consideration	Nil
No. of securities held after change	13,559,124 Fully Paid Ordinary Shares 6,758,280 Quoted Options 4,750,000 Unquoted Options
Nature of change	On-market purchase

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

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∣ Detail of contract __	N/A
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