Ann: Appendix 4C and Quarterly Update, page-13

I am a long term holder of ISX. Studying their latestannouncements, this company is now ready for significant growth. John's vision isbecoming a reality. It's been great to see the plan unfold with diligence, determinationand patience to go through all the regulatory hurdles. ISX were trackingtowards 16mil per annum revenue with a breakeven of about half that, then amajor problem with losing their settlement services caused a large drop inrevenue. They have now achieved Tier 1 and are able to settle funds without a 3^rdparty and the associated costs. I get the feeling ISX are offering a significantlylower cost proposition to their merchants than their competitors. The next stepis the Australian market which shows huge upside potential with most of thelocal banks opting out of high risk services. I wonder when they may ventureinto the US market?