First Mongolian Share Distribution Entitlement determined

June 25 -- Directors of GoConnect Ltd ("GCN") are pleased to confirm that under GCN's partnership agreement with First Mongolian Investment Holdings Ltd ("First Mongolian"), 100 million First Mongolian fully paid ordinary shares will be distributed to qualifying GCN shareholders in proportion to their GCN shareholding for nil consideration ("Entitlement Shares"). Based on the issued capital of GCN as at the record date 22 June 2012, 525 GCN shareholders, holding in excess of 93% of the total issued capital of GCN have qualified. For these shareholders, each of their GCN share is entitled to 0.11495 First Mongolian Entitlement Share to be issued with a face value of 40 cents, thus providing a distribution face value for each GCN share of approximately 4.6 cents in First Mongolian share. In determining the final entitlement, shareholders should note that fractions have been disregarded. Investors need to be aware that First Mongolian shares may have a market value higher or lower than the face value. Only GCN shareholders who held 250,000 shares or more, and registered as shareholders by the books closing date of 22 June 2012, have qualified for the distribution. First Mongolian has planned to seek listing for its shares on the ASX. Preparation of a prospectus for the proposed ASX listing is well under way. Sino Investment Services Pty Ltd is the Lead Manager for the proposed listing.

Qualified GCN shareholders will be advised of their First Mongolian Entitlement Share holdings by mail in the coming weeks. Further, GCN shareholders who have qualified for the First Mongolian Entitlement Shares will also each be offered a right to subscribe for an additional $2,000 of First Mongolian shares under the prospectus to be issued ("Subscription Shares"). The right to take up the Subscription Shares will be independent of the Entitlement Shares and qualified GCN shareholders will not be obligated to take up the Subscription Shares.