STREAMPLAY STUDIO LIMITED — Major Shareholding Notification 2004

Mar 17, 2004

ASX Fax: 1900999279

P O Box 703 Claremont WA 6910.

18/03/04.

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,

Tichard Juale

$\mathbf{E}^{(1)}$ and

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

Notice of change of interest of substantial holder

Form 604Carporations Act 2001Section 6718

To	Company Name		GIPPSLANDL!MITED ABN 31 004 766 376
1	Details of substantial holderSituate Pty Ltd ABN 69008977375
				Tavercam Pty Ltd ABN 72007986316
		There was a change in the interests of the substantial shareholder on		18/03/2004
		The previous notice was given to the company on		11/09/2003
	The previous notice was deted							11/09/2003
$\mathbf{2}$	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 Ord.		10,100,000		14.74%		11,700,000		1261%
	Taveroam Ord.		5,900,000					5,900,000
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 ofParson whose relevant interestchangechanged			Nature of change		Consideration given inrelation to change		Class & number of securitiesaffected		Person'svotes affected
	Situate Pty LtdTaveroam Pty Ltd			On marketpurchases andparticipation inrights issuesbetween notices		Prevailing marketprices		1,600,000 Ordinary
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

$1/2$

$\mathcal{A}^{\mathcal{A}}$

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
Not applicable
Addresses
The address of persons in this form are as follows:
Name		Address
Situate Pty Ltd		Reg. Office.
Tavercem Pty Ltd		Suite 13 Level 1
		123A Colin Street West Perth WA 6005.

1 Scale18-3-0418-3-04 Signature_ Name: Date: