STREAMPLAY STUDIO LIMITED — Director's Dealing 2006

Nov 21, 2006

Rule 3.19A.2 Rule 3.19A2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

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 Chisholm
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	Direct & interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevant interest.	Being a director of Mandu Pty LtdTrustee for Mandu Superannuation Fund P/L
Date of change	17 November 2006
No. of securities held prior to change	50,000 Fully paid ordinary shares2,250,000 Quoted options
Class
Number acquired	100,000 fully paid ordinary shares
Number disposed/expired
Value/ConsiderationNote: if consideration is non-cash, provide details and estimated valuation	$0.10 per share
No. of securities held after change	150,000 fully paid ordinary shares2,250,000 quoted options
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	On-market trade

+ See chapter 19 for defined terms.