GBST ASX (GBT)

Share Price Now: $1.28

Robbo’s opinion and Prediction in 21- 30 Days -- >> $1.55

Market Cap still only $55 Million and look at the growth in quarter to quarter to quarter to quarter EBITA….. and low PE of -9-10 range

**-- Also look at the Last Line on this ASX Announcement on the EBITA growth of GBT announcement…. Ie: EBITA growth is 57% for the quarer.... following previous strong quarters....: >>> For the Quarter !! Annualize that…and you get…..

Demonstrates that GBT is a highly scaleable, 'repat business' (click, click, click 24 ghours 7 days, 365 days etc... business operation with an effective Proven safe model of business operation, with Mangemnt who have now got the "runs on the board" --- IMO...

So below ... is the Impressive ASX Announcement for GBST... (GBT)

10th November, 2005

GBST announces Q1 FY’06 EBITDA up 54%

GBST – Australia’s largest provider of securities transaction processing - today announced
highlights of the group’s performance for the quarter ended 30 September 2005.

Q1 FY’06 Highlights

• Operating Revenue of $6 million up 14% from pcp,
• EBITDA of $1.75 million up 54% on pcp,
• Citigroup Custody went live on GBST’s third party clearing platform and introduced their
first client,
• Leverage Equities, went live with GBST’s Margin Lending Interface, delivering new
recurring license revenues,
• At 30 September 2005, the company had cash reserves of $7.7 million and no
borrowings.
GBST Managing Director, Stephen Lake said “Our solid growth in profitability for the
quarter reflects higher levels of trading activity than the comparative quarter and recurring
license revenues from new business. The use of specialist staff to manage client
relationships is also delivering growth in services revenue and a healthy pipeline of future
work. Our results continue to benefit from the levels of equities trading volumes however,
consistent with our peers, we can not predict future trading levels.”
In releasing these results Mr Lake commented that “GBST’s balance sheet strength upon listing, and our trading performance since, leaves us well positioned to acquire the Palion broking business and consider other opportunities. Our negotiations with OMX for the acquisition of Palion remain on track and we believe it is important for the market to understand our current financial position as we enter into this acquisition. “

- ENDS -

Results Summary Quarter to 30 Sept
2006 2005 % increase $'000 $'000
Operating Revenue 6,024 5,290 > 14%
Operating Expenditure 4,272 4,151 3%

EBITDA 1,752 1,139 54% Increase in EBITA [][^]


ASX Announcement and Media Release for GBST (ASX: GBT)

About GBST
Established in 1983 GBST (Global Banking and Securities Transactions) is the largest
provider of securities transaction processing in Australia and a leading provider of
transaction solutions for the financial services industry.
GBST’s core competence is real time integrated transaction processing which reduces costs
and the need for and risks to capital for a wide variety of market participants, including:
global investment banks, custodians, clearers, stockbrokers, exchanges, margin lenders,
and cash management providers.
With offices in Brisbane, Sydney, and Melbourne, GBST has around 130 staff committed to
providing advanced transaction solutions.
www.gbst.com
Contact: Stephen Lake Managing Director/CEO
GBST Holdings Limited
Phone: + 61 7 3331 5555 Email: stephen.lake@gbst.com
Or Kieran Wallis CFO GBST Holdings Limited
Phone: + 61 7 3331 5555
Email: Kieran.wallis@gbst.com


Kindest Regards,

Robbo