update on priority one/gcn corporate developme

10 January 2012

Update on Priority One/GCN corporate development

Directors of GoConnect Ltd ("GCN") are pleased to advise that shareholder statements of Priority
One Network Group Ltd ("Priority One") have been despatched to all shareholders of Priority One
by its share registry, Security Transfer Registrars Pty Ltd.
Management of GCN and Priority One have just completed a trip to Shanghai and Hong Kong
meeting with the local shareholders of Shanghai Reliance Information Technology Co Ltd and
Priority One GoConnect China Group Ltd, and together with them, held discussions with a number
of Chinese companies that both Shanghai Reliance and Priority One GoConnect China have
introduced to the Priority One/GCN partnership.
The development of Priority One/GCN's China business has been accelerated and further defined
as a result of these discussions which are expected to lead to a number of agreements and
Memorandum of Understandings with a number of major Chinese e-commerce companies in
coming weeks. The timing is ideal for Priority One/GCN's entry into the China market in securing
partnerships with outward looking Chinese companies. Outbound travel from China is booming
and is rapidly changing the international tourism landscape. Major tourist destinations across the
world have seen surging numbers of Chinese visitors in recent years. In 2010 alone, 57.39 million
Chinese travelled abroad, spending US$48 billion overseas, according to figures from the China
Tourism Academy. The World Tourism Organisation has estimated that the total number of
outbound tourists from China would reach 100 million by 2020. This exponential growth trend in
China outbound tourism provides unique opportunities for the Priority One/GCN partnership to be
positioned between Chinese and Western merchants of goods and services.
Further details of the China development will be provided to the ASX when available.