GIP Gippsland

RNS Number:4158A
Gippsland Limited
27 March 2006


27 March 06

Gippsland Limited ("Gippsland" or "the Company")

+++++++++++++++++++++++++++++++++++++
Settlement of Aguero Dispute
+++++++++++++++++++++++++++++++++++++

Gippsland (ASX & AIM: "GIP") announces that a settlement has been reached today
with respect to the dispute with Alex Aguero ("Aguero").

The terms of the settlement are confidential and do not involve any admission of
liability by Gippsland.

The settlement terms include the issue of 3.6 million Gippsland fully paid
ordinary shares to Aguero and 2.4 million Gippsland fully paid ordinary shares
to Hillcrest Litigation Services Ltd the litigation funder who financed Aguero
in this matter.

Gippsland Directors consider the resolution of the matter to be a sound
commercial outcome for the Company.

Application will be made for these new ordinary shares to be admitted to AIM,
and trading is expected to commence on 31 March 2006.

RJ (Jack) Telford
Executive Chairman


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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