past announcement

YESTERDAY GCN SAID

"Through a separate agreement between Priority One and Northvale Capital Pte Ltd (“Northvale”) based in
Singapore, over the next 12 months, another 15 million Priority One cards and online accounts are to be
issued to members in India, Singapore, Malaysia, Thailand and Indonesia. Northvale is an investment company whose management is associated with ATM businesses in India. Priority One will commence establishing member accounts progressively from the next two weeks".

"To underline their confidence in the Priority One platform and its associated corporate partnerships,
Northvale is leading an investor group, which includes Beez Investments Pty Ltd (“Beez”) to further support
Priority One. Beez currently holds a 5.9% stake in Two Way Limited (“TTV”) (per ASX announcement
released by TTV on 29 June 2012 “New Funding Arrangements and Appendix 3B”) as well as being a
significant supporter of Priority One since inception.
Further to the announcement as published by TTV on 26 June 2012 “Proposed Merger with Priority One
Group” Both Beez and Northvale have been pivotal supporters of Priority One and will form the leading
entities to facilitate the investment of $15 Million into the consolidated TTV/Priority One entity post the
implementation of the Merger Implementation Agreement as announced by TTV to the ASX on the 29 June
2012 “Merger Implementation Agreement".

Am I hearing this right Northvale and friends to place 15 Mil cards and put $15mil into P1.....those TTV directors need these customers more than P1.

The TTV deal would have led to a very low % of the merged group and over 50% of funds (TTV)already going to directors saleries. IMHO a P1 without TTV (by the way TTV initiated the deal just prior to June 30)..may not be greatly missed.

Whats being lost here is Northvale and China committements which is a normal advance and cannot be said to be a material breach...business must go on.