Ann: Appendix 4C - quarterly, page-12

Hi Tinwins

I haven't seen any activity.

Certainly there have been no changes on their webpage at

http://p1card.com

There is a statement on their webpage that Priority One Rewards is unlike any other Prepaid Debit Card

Well . . . it is very unlike other cards, in the sense that it does not exist.

Despite my cynicism about Priority One, you will presumably be aware that GCN directors think it is an OK company. They assert that their large holding of P1 shares as one reason why GCN can remain solvent.