November 2008

(Vstex Company , VST) - NOVEMBER 2008 SINGLE STEP INCOME STATEMENT -
----------- REVENUES -----------
EXCHANGE COMMISSIONS - TRADING	8,090.88 L$
EXCHANGE COMMISSIONS - IPOs	18,437.00 L$
EXCHANGE COMMISSIONS - OTHER	24,000.00 L$
STOCK AND TREASURY SHARES SALES	7,829.61 L$
DIVIDENDS ON TREASURY SHARES	0.54 L$
SECONDFOOTBALL.COM ADVERTISING	22,000.00 L$
SECONDFOOTBALL.COM CHAMPIONSHIP FEES REFUNDS	25,000.00 L$
TOTAL REVENUES	105,358.03 L$
----------- EXPENSES -----------
VSTEX.NET SERVER HOUSING	20,000.00 L$
INVESTMENTS AND ASSOCIATED EXPENSES	9.50 L$
GENERAL EXPENSES	200.00 L$
SECONDFOOTBALL.COM CHAMPIONSHIP FEES REFUNDS	65,000.00 L$
TOTAL EXPENSES	85,209.50 L$
----------- NET INCOME -----------
NET PROFIT	20,148.53 L$

Note: VSTEX Company is currently using cash based accounting. Dividends paid: 300,000 L$ (end of December, 2007), 120,000 L$ (end of April, 2008), 300,000 L$ (end of June, 2008)

(Vstex Company , VST) - COMPANY ASSETS AS OF NOVEMBER 30, 2008 -
----------- PORTFOLIO -----------
VST (stock options) @ 0,50 L$	5,462,750	2,731,375.00 L$
VST @ 0,50 L$	514,433	257,216.50 L$
ITL @ 0.48 L$	4	1.92 L$
MED @ 0.33 L$	18	5.94 L$
PBA @ 0.18 L$	74	13.32 L$
SLG @ 0.61 L$	52	31.72 L$
SLT @ 0.24 L$	38	9.12 L$
CASH ON HAND		210,787.25 L$
----------- OTHER ASSETS -----------
VSTEX ISLAND (65,535 sqm.)		250,000.00 L$
Server HP PL DL320RG5 DC2.4 / 4MB 1GB 160GBSATA		394,632.35 L$
----------- -----------
Company assets total		3,844,073.12 L$

(Vstex Company , VST) - COMPANY LIABILITIES AS OF NOVEMBER 30, 2008 -
----------- EXCHANGE LIABILITIES -----------
REFUNDABLE LISTING FEES		10,500.00 L$
----------- OTHER LIABILITIES -----------
SECONDFOOTBALL.COM REFUNDABLE FEES		60,000.00 L$
----------- -----------
Company liabilities total		70,500.00 L$

(Vstex Company , VST) - VALUATION MEASURES AS OF NOVEMBER 30, 2008 -
----------- -----------
Outstanding shares	30,000,000
Market price	0.50 L$
Earnings per share (yearly basis)*	0.01 L$
Price to earnings ratio	62.04
Book value per share**	0.13 L$

* result of the reported period multiplied by 12
** unlike other SL companies we do not report as assets items like virtual buildings, websites, web domains and other items often used to "inflate" the numbers.
It is important not to rely on any one financial measure, but to use it in conjunction with statement analysis and other measures.

(Vstex Company , VST)
- MIXED DATA AS OF NOVEMBER 30, 2008 -

----------- VSTEX -----------

VSTEX account holders
Increase since last month
6,922
N/A

VSTEX users credits (100% available, no withdrawal limits)
1,001,795.31 L$

VSTEX users buy orders (money escrowed to fulfill orders)
213,787.94 L$

Q2 2008 VSTEX ATMs deposits 971,685 L$

Q2 2008 VSTEX ATMs withdrawals 787,408 L$

VSTEX ATMs 7

----------- VSTEX -----------

Traded

Month Transactions Symbols Shares Value Commissions from trading

January 1,125 11 1,913,131 706,572.81 L$ 21,197.53 L$

February 1,267 16 1,467,605 1,039,723.19 L$ 31,191.95 L$

March 1,429 16 2,867,205 879,577.31 L$ 26,387.65 L$

April 975 19 904,936 435,664.07 L$ 13,087.37 L$

May 1,578 14 3,410,690 663,943.48 L$ 19,958.96 L$

June 871 13 2,055,049 967,950.67 L$ 29,265.74 L$

July 621 13 1,011,748 435,078.89 L$ 13,230.90 L$

August 512 13 1,156,610 320,808.75 L$ 9,624.46 L$

September 542 14 1,298,252 384,738.80 L$ 11,910.64 L$

October 725 14 2,103,936 729,259.05 L$ 21,879.79 L$

November 465 14 801,189 313,920.89 L$ 9,709.04 L$

(IPOs and stock options not included) (some companies may have
traded under different symbols
because of takeovers)
(IPOs and stock options not included) (3% commission included)
(Risk funds quota is included)

(Vstex Company , VST)
- VSTEX RISK FUNDS DATA AS OF NOVEMBER 30, 2008 -

----------- -----------

VST 45,983.00 L$

AFP 1,649.50 L$

DWF 453.00 L$

GRP 4,531.00 L$

IBF 4,306.00 L$

ITA 3,462.00 L$

ITL 29,036.00 L$

JCP 8,408.00 L$

MED 28,028.00 L$

MDN 492.00 L$

MMC
1,686.00 L$

PBA 3,630.00 L$

SLG 352.00 L$

SLT 5,478.75 L$

VHI 24,394.00 L$