THE REWARDS FACTORY LIMITED (ASX.REW)

company is now called My Rewards International Limited

delisted following failure to pay listing fees

in due course, the Company will contact subscribers who did pay for the shares issued to them pursuant to the Prospectus and give them the opportunity to choose whether they wish to keep their shares or to obtain a refund of their application monies - in order to properly execute the Plan it is necessary that the Company's shares be removed from the Official List of the ASX - the Company anticipates that its shares will be automatically removed from the Official List of the ASX at the close of business on Monday 31 August 2009 pursuant to ASX Listing Rule 17.15

given the fact that the Company's shares have not traded since July 2008, and in order to properly rectify the Company's share register, the Board of the Company resolved to delist the Company from the ASX - (REW listed on the ASX in June 2008 following the issue of a prospectus dated 24 Dec 2007 and supplementary prospectus dated 20 March 2008 - the Company issued 15,760,000 shares under the Prospectus - of these shares, the Company did not receive cleared funds in payment for 14,260,000 shares, despite representations to the contrary by some subscribers - in order to rectify this problem, the Company requested that its shares be placed into a trading halt on 11 July 2008, and on 13 August 2008 the Company requested that trading in its shares be suspended - the Company's shares have not traded on the ASX since 13 August 2008 - the 14,260,000 shares remain unpaid for, and the rectification of the Company's share register has posed unique problems for the Company)

REW continues to progress the issues arising from the failure by some shareholders who subscribed for shares under its prospectus to pay for those shares

company has changed the name of its Hong Kong based Asian and China joint venture from REW Asia Limited to CardCorp Asia Limited

the company advises that REW's lawyers have sent letters of demand to all investors who have not paid for shares issued under REW's Prospectus - shareholders who have received such letters have been provided with until 30 June 2009 to make payment for such shares

company advises it has 383,332 fully paid ordinary shares to be released from escrow - the escrow period has expired - REW will apply for quotation of the shares

the company has entered into further discussions with First Capital Partners ("FCP"), a Hong Kong based Investment Banking company that has made a number of strategic investments and industry consolidations in the logistics, financial services (payment cards) and retail sectors - FCP has established an Asian Joint Venture with REW called REW Asia for the implementation of its loyalty and reward and card issuing services in Asia and China

Winteray has now invested $400,000 to purchase 4,444,445 shares in the Company at a price of $0.09 per share - agreement was not reached by 15 May 2009 on a convertible note investment; therefore the proposed issue of convertible notes to Winteray is not proceeding - the Company has not, as yet, received payment in cleared funds for 14,280,000 shares. The Directors have instructed REW's lawyers to send letters of demand to all investors who have not paid for shares issued under REW's Prospectus and to take such further action as is required

the company and Winteray entered into a Share Transaction Deed which was subject to various conditions - Winteray subsequently terminated the Share Transaction Deed on the basis that one of the conditions had not been fulfilled - REW and Winteray have now entered into an agreement in relation to a revised transaction under which Winteray is to invest between $300,000 and $1,200,000 in REW - the first tranche of $300,000 has already been released to REW while the parties negotiate the size and terms of the investment

negotiations have progressed with Winteray Limited to the point where the parties are now finalising the terms of a share transaction deed that it is anticipated will see Winteray Limited acquire 15,875,000 ordinary shares in the Company

the company is now well advanced in discussions with a third party, Winteray Limited - this third party proposes to invest in the Company with the intention of the Company receiving funds and having its share listing re-instated - further details as to this proposal will be released in the coming fortnight - (as at January 27 th 2009 the company held cash totalling $220,671)

the company continues to pursue the outstanding IPO monies - it is also in discussions with third party investor groups and the company will make further statements as matters progress

advises that the recovery attempts (regarding outstanding IPO monies and shares) are continuing

the Company has received the forensic accountant's report on the outstanding IPO monies and shares and has instructed its lawyers to take immediately action against the parties for the recovery of outstanding IPO monies - as at December 5th 2008 The Rewards Factory held cash totalling $246,928.81

company announces that is has signed a Memorandum of Understanding (MOU) with leading China-based investment company, First Capital Partners Limited (FCP), for a joint venture to grow The Rewards Factory's business in Asia

the report from a specialist forensic accountant is nearly complete - the company will then take recovery action for outstanding IPO monies

the Company is continuing to take steps to identify shares issued under its Prospectus dated 24 December 2007 and Supplementary Prospectus dated 20 March 2008 that have not been paid for and is awaiting a report from a specialist forensic accountant

as at 26 September 2008 the Rewards Factory Limited held cash totaling $194,128.26 - the Company is close to finalising an agreement so as to no longer proceed with the purchase of The Gourmet Club Pty Ltd from Mystate Financial Credit Union of Tasmania Limited - further, solicitors for the Rewards Factory Limited and Pegasus Group Australia Pty Ltd are engaging in discussions as to the ongoing relationship between the Rewards Factory Limited and Pegasus Group Australia Pty Ltd - finally, the Rewards Factory Limited has engaged an external consultant to identify the parties that have not paid for their shares and will be taking steps to seek payment from such parties

the securities of The Rewards Factory Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending resolution of issues regarding the ownership of shares and payment of outstanding funds on these shares