RNS Number:8736M
Gippsland Limited
31 January 2008





                        Gippsland Limited ("Gippsland")

                            ISSUE OF BROKER OPTIONS

Gippsland Limited (ASX, AIM, FRA : GIP) advises that it has issued 2 million
options to each of the Company's London-based co-brokers, Seymour Pierce Limited
and Fox-Davies Capital Ltd.

These unlisted and non-transferable options have an exercise price of 7 UK pence
and an expiry date of 15 December 2011.

Immediately after the issue of the above shares, the number of Gippsland shares 
and options on issue will be as follows:

Ordinary Shares on Issue          293,198,772

Unlisted Options on Issue         25,000,000 exercise price A$0.135, 26/5/2012
                                  4,000,000 exercise price UK�0.07, 15/12/2011

RJ (Jack) Telford
Executive Chairman
Gippsland Limited
www.gippslandltd.com


For further information please contact:

Jack Telford
Gippsland Limited
T: +61 (0)8 9340 6000
E: jtelford@gippslandltd.com
--------------------------------

David Newton, Director Corporate Finance    Richard Hail, Head of Corporate
                                            Finance
Seymour Pierce Limited                      Fox-Davies Capital
T: +44 (0)20 7107 8000                      T: +44 (0)20 7936 5200
E: davidnewton@seymourpierce.com            E: richard.hail@fdcap.com
-------------------------------------       ----------------------------

Jane Stacey / Ed Portman                    Warrick Hazeldine
Investor Relations                          Investor Relations
T: +44 (0)20 7429 6606 / 6607               T: +61 (0)8 9485 1254
M: +44 (0)792 292 3306                      M: +61 (0)417 944 616
E: jane@conduitpr.com / ed@conduitpr.com    E: whazeldine@purplecom.com.au
------------------------------------------- ---------------------------------




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

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