STREAMPLAY STUDIO LIMITED — Major Shareholding Notification 2005

May 29, 2005

page 1/2 15 July 2001 601

Form 604

Corporations Act 2001 Seedon 671E

Notice of change of interests of substantial holder

To Company Name/Scheme	Gippsland Ltdمستهديت	------
ACN/ARSN	A.B.N. 31 004 766 376

1. Details of substantial holder(1)

Name	Sandstone Securities Pty Ltd A.B.N. 90 008 986 374
ACN/ARSN (If applicable)	King Town Holdings Pty Ltd A.B.N. 21 332 492 035--------

THE PROPERTY OF A REAL PROPERTY OF A REAL PROPERTYsubstandal holder on	04/05/2005
The previous notice was given to the company on	16 /09/20 04
The previous notice was dated	16 /09/20 04

2. Previous and present voting power

These your a change in the interactor of the

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 an associate (2) had a relevant interest (3)In when lest required, and when row r

Class of securities (4)	Previous notice		Fresent notice
	Person's votes	Voting power (5)	Parson's votes	Voting power (5)
Sandstone Securitie 6,100 000		9.03%	5,950 000 7.52%
King Town Holdings 6,500 000			6.100 ODD

3. Changes in relevant interests

Particulars of each drange in. or change in the nature of, a relevant ideorate of the subsembal holder or an associate in voling securities of the company or scheme, since thesubstantial holder was last required to give a

Dane ofchange	Person whoserelevant interestchanged	Nature ofchenge (6)	Considerationgiven in relationto change (7)	Class andnumber ofsecuritiesaffected	Person's votesaffected
29.09.04	Sandutone Sec		On Market Sale P.Market Prices 150,000		Ordinarv
04.05.05	King Town Boldin On Market Sale		Prevailing	400,000	Ordinary
			Market Prices

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofrale rant,interest	Registeredholder ofsecurities	Person entitledto be registeredas holder(9)	Nature ofrelevantinterest (6)	Class andnumber ofsecurities	Person's votes
مسمنا

604 page 2/2 15 July 2001

5. Changes in association

The gersons who have became associates (2) of, ceased to be essociates of, or have changed the neture of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

93712120

Name and ACN/ARSN (if a(sidcaticate_____	____Neture of esseciation------ -
Not.- Applicable	----
-----

C. Addresses

The addresses of persons named in this form are as follows:

Name	Address-----
Sandstona Securities P/L 17 Derby Road
King Town Holdings P/L-----	Subiaco M.A. 6008

Signature

	print name Rodney Lenterly	capacity Director
sign here		30/ DS /200Sdate i---

DIRECTIONS

• $\Omega$ If there are a number of substantial holders with similar or related relevant interests (eg, a comporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annoxure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to dricuphout the form as a specifically ramed group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 5 of the form.
• $\langle 2 \rangle$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• (3) See the definition of "relevant interest" In sections 603 and 6718(7) of the Corporadors Act 2001.
• $\langle 4 \rangle$ The voting shares of a company constitute one class unless divided into separate classes.
• $\left(5\right)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
• $(6)$ include details of:
  • ω any relevern agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the parson giving full and accurate details of any contract, scheme or arrangement must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • $\langle b \rangle$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• $\sigma$ Details of the consideration must include any and all benefits, monay and other, that any person from whom a relevant interest was acquired has, or may, become entitled to recaive in relation to that acquisition. Details must be included over if the benefit is conditional on the happening or not of a contingency. Details must beincluded of any bonofit paid on behalf of the subst the relevant interest was acquired.
• $\Theta$ If the substantial holder is unable to determine the identity of the person (eg. If the relevent interest arises because of an option) write "unknown".
• Θ) Give datalls, if appropriate, of the present association and any change in that association since the last substantial holding notice.