STREAMPLAY STUDIO LIMITED — Major Shareholding Notification 2004

Sep 23, 2004

ASX: Fax: 1900999279 P O Box 703 Claremont WA 6910.

24/09/2004.

Dear Sir,

Re: Gippsland Ltd. (GIP)

Please find attached a Form 604 relating to a change in our substantial shareholding in the above company. A copy of this Form 604 has been sent to the company.

Yours faithfully,

Wiland Seale

Richard B W Beale Shareholder and Director Situate Pty Ltd Taveroam Pty Ltd.

Notice of change of interest of substantial holder

Form 604 Corporations Act 2001Section 671B

To	Company Name		GIPPSLAND LIMITED ABN 31 004 766 376
		Details of substantial holder	Situate Pty Ltd ABN 69008977375Taveroam Pty Ltd ABN 72007986316Richard Basil William Beale
		There was a change in the interests of the substantial shareholder on		23/09/2004
		The previous notice was given to the company on			18/03/2004
	The previous notice was dated		18/03/2004
2.	Previous and present voting power
	The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or anassociate had a relevant interest in when last required, and now when required, to give a substantial holding notice to the company or scheme, areas follows:
	Class of securities			Previous notice				Present Notice
				Total number		% of class		Total number	% of class
	Situate Pty Ltd			11,700,000				4,027100
	Taveroam Pty Ltd			5,900,000		12.61%		5,900,000	13.67%
	RBW Beale			NIL				9,150,000
3		Changes in relevant interests
		Particulars of each change in, or change in the nature of, a relevant interest of a substantial holder or an associate in voting securities of thecompany or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme, are as follow:
	Date ofPerson whose relevant interestchangechangedSituate Pty LtdTaveroam Pty Ltd			Nature of change		Consideration given inrelation to change		Class & number of securitiesaffected		Person'svotes affected
				On market and		Prevailing
				off market		market		1,477,100
	RBW Beale			purchases		prices
4		Present relevant interests
	Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:
	Holder ofrelevantinterest	Registered holder of securities		Person entitled to beregistered as holder		Nature of relevantinterest		Class and number of securities		Person'svotes

5.	Changes in association
	The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantialholder in relation to voting interests in the company or scheme are as follows:
	Name and ACN	Nature of association
	RBW Beale	in Gippsland Ltd in his own name.	RBW Beale a director of Situate Pty Ltd and Taveroam Pty Ltd now also holds shares
6	Addresses
	The address of persons in this form are as follows:
	Name		Address
	Situate Pty Ltd		Reg. Office
	Taveroam Pty Ltd		Suite 13 Level 1
	.		123A Colin Street West Perth WA 6005
	RBW Beale		PO Box 703 Claremont WA 6910

Reale

Signature Richard B W Beale Name:

Date: 24/09/2004.

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