RNS Number:8242K
Gippsland Limited
31 December 2007


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

On 31 December 2007 Gippsland Director Mr John Damien Kenny informed the Company 
that on 31 December 2007, Ventureworks JDK Pty Ltd of which Mr Kenny is a 
Director, acquired 2,250,000 Ordinary Shares via the exercise of 2,250,000 
A$0.09 options.

This acquisition brings Mr Kenny's interested holding in the Company to 
2,250,000 Ordinary Shares, representing 0.8% of the issued share capital of the 
Company.

For further information please contact:

Jack Telford                Gippsland Limited         T: +61 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

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