RNS Number:8200K
Gippsland Limited
31 December 2007


                Gippsland Limited ("Gippsland" or the "Company")
                                        
                           Chairman Exercises Options
                                        

On 31 December 2007 Gippsland Executive Chairman Mr Robert John Telford informed
the Company that on 31 December 2007, Eco International Pty Ltd and RJ - RJ 
Telford Superannuation Fund of which Mr Telford is a Director, acquired 
6,558,322 Ordinary Shares via the exercise of 6,558,322 A$0.09 options.

This acquisition brings Mr Telford's interested holding in the Company to 
20,126,446 Ordinary Shares, representing 7.16% of the issued share capital of 
the Company.



For further information please contact:

Jack Telford                Gippsland Limited            T: +61 (0)8 9340 6000
David Newton             Seymour Pierce Limited          T: +44 (20) 7107 8336





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

END
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