STREAMPLAY STUDIO LIMITED — Director's Dealing 2004

Jan 20, 2004

Appendix 3Y

Change of Director's Interest Notice 13 January 2004

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	John D Kenny
Date of last notice	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	Indirect Interest
Nature of indirect interest(including registered holder).	Being the Sole Director and Sole Shareholder ofVentureWorks JDK Pty Ltd
Date of change	12 January 2004
No. of securities held prior to change	2,250,000 Unquoted Options and 2,250,000 QuotedOptions
Number acquired	Nil
Number disposed	2,250,000 Unquoted Options (They were extinguishedfor no consideration)
Value/Consideration	Nil
No. of securities held after change	2,250,000 Quoted Options
Nature of change	These 2,250,000 Unquoted options were voluntarilyextinguished for no consideration.

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.

Detail of contract	N/A
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