NEWS Updates

C&D Mr. Kong and Mr. De Santo
PNG Benefit on the 10th February 2010, issued a Cease & Desist to Mr. Danny Hon Yeong Kong - Australian Passport #E3009940 and Mr. Prospero "Ross" De Santo - Australian Passport #L7957241
These intermedatories were assisting us with sourcing funding for Projects in PNG, we provided them with all documentation and authority to source the funding.
This authority and all documentation provided by PNG Benefit for funding sourced is now fully terminated.
Supporting documentation for any funding has been requested to be returned to our Company, yet they have failed to do so, or make any reply to our requests. We urge any people having dealings with these two guys purporting to represent the interests of PNG Benefit, to cease and contact us direct for confirmation or to clarify any issues at hand.
We thank the people and Companies, who have replied to us since the 10th of February emails.

Agriculture
PNG Benefit on the 26th Janaury 2010, held a meeting with a Company from Taiwan interested in providing expertise for Agricultural Projects in PNG.
The company will provide farm system planning, soil testing, agricutural machinery, agricultural seeds, fertilizer and insecticides and new planting technology which will enhance the capabilities of farming practices in PNG.

Yumbi Incorporated Land Group - Moran SHP
PNG Benefit on the 21st Janaury 2010, signed an exclusive Mandate for the Business and Financial Management of all development
projects to be undertaken with the LNG Gas project.
The Yumbi Clan are actual Moran Well-head Landowners with 14 well-heads on their customary lands. They are the major landowning group in the Moran Petroleum Project Development area, which holds PDL2, PDL5 & PDL6.
Currently the first project is the Development of an Integrated Business Centre, incorporating a mixed commercial,
transport and market development in Tikipi - Hela Tapita in the Southern Highlands.

Property Development & Construction
In December 2009, PNG Benefit has secured a number of construction projects for which we will be the project managers.
The projects include domestic housing, commercial and industrial buildings.

New Company Logo
On the 21st December 2009, we have approved a New Corporate Logo for the company. Our previous letterheads will be fazed out with the New Corporate Logo in effect from this date!

Mt Victor - Alluvial Gold Mining
PNG Benefit on the 10th November 2009, signed MOA and Small Scale Mining Tenement with the AML Leaseholder at Mt Victor, Kainantu in the Eastern Highlands Province.

Welewi Resource Limited & PRL05
PNG Benefit has on the 5th September 2009, was endorsed for consultancy services for the Welewi Resources Limited landowner company from the Western Province.
The area covers the PRL05 Elevala/Ketu Oil and Gas Resources.

Juha Resource Owners & PRL02
PNG Benefit has on the 4th September 2009, signed mandates and NCND with PHEMBI Landowners Association Inc from the Western Province. This gives full Exclusive Mandate and authority for PNG Benefit to negotiate financing, T&C, and LOI for various funding requirements for the Resource Area.
PNG Benefit has also been engaged as a Consultant with all matters relating to Government Bodies for all aspects of the Resource Area.
There are currently 5 well heads in the PRL02 area and the Resource Owners wish to obtain full benefit from their resources.

Property Development
PNG Benefit has a number of property developments available for the right partnership!

1. Prime location 12.13ha with Port Moresby's only 18 hole Golf Course bordering the property. Views take in the Waigani Arts center and business centers. In 2010 the Sir John Guise Drive will be extended past the property directly linking to the Jackson's International Airport, only 3 mins drive! Opportunity for approx. 100 Residential Villas and Hotel Resort and Commercial development. (as at the 20th January 2010, we are currently in negotiations with a Company from Shanghai China, to undertake this developement.)

2. Development of 2600 Residential Blocks, 450ha in Taurama Valley. Also leads down to the opportunity to further develop a Marina style apartment suburb at a later time.

3. Development of 200 Residential Blocks in Gerehu, approx. 10ha

4. Development of 25 Residential Blocks in Tokarara.

5. Development of 72 Residential Blocks in Tokarara, approx. 7.85ha

Popondetta Platinum and Gold
PNG Benefit has been working over the past 12 months on developing the systems to assist locals in the area to organise themselves to mine and sell their alluvial Platinum and Gold.
Popondetta is the on the Owen Stanley Ranges and is well known for its Platinum reserves.

Gulf Province
PNG Benefit has been working with various groups in the Gulf and Southern Highlands provinces supporting development of their organisational needs in relation to the LNG Gas Projects.
PNG Benefit has signed agreements to assist Landowner groups to source funding an various other requirements the landowners are seeking. Currently we have agreements with Landowners at ELK4 and ANTELOPE gas fields in the Gulf.
POROI Landowner Company and Aumakenairu Orumako Ltd from the Gulf have signed authority on the 31st March 2009, for PNG Benefit to Negotiate with International Investors or Financiers.
The areas covered by these landowners are PDL236, PDL237, PDL238 of ELK4 and ANTELOPE gas and oil project developments.

Digicel PNG Ltd
PNG Benefit has been working with Digicel PNG Ltd the most popular communications network in PNG, since mid 2008. We supply services such as Electric Fencing Security, Hire Vehicles, Rollout Programs, Refueling of the Generators for their Phone Towers.
PNG Benefit is currently servicing the areas of Tari and Enga. We work with the Landowners to ensure that they receive the spin off business and give themselves ownership of worthwhile partnerships with large organisations such as Digicel.

Funding Propects
PNG Benefit is negotiating with a number of International Funders regarding various projects in PNG.
We hope to finalise some funding shortly along with a new Landowner Company MOA
which will strenghten the position of PNG Benefit in PNG.

Gold Prices Increasing 19th January 2009
The Recent world crisis has seen prices for Alluvial Gold in PNG jump up to 25% above the World Market Prices.
This is placing a huge demand on the locals to supply large quantities of Alluvial Gold to Foriegn Companies and Individuals,
who then seek to on sell the Gold at higher prices again.

Development Projects Decemeber 2008
PNG Benefit is being now approached by Government organisations, including the Finance Department, Housing Commission,
National Parliament and other Landowner Groups wishing to establish development projects all over the country.
The Housing Commission project involves approx. 20,000 new houses to be built and managed with assistance for the
local public service employees to access affordable housing.
With the LNG Project now heading into full swing it is estimated that a further 20,000+ Ex-pats will be required in the country,
this again leaves a shortage of housing and has opened further opportunities to PNG Benefit as the Management and Finance Company
assisting requirements of the Government and Private sector.

Registration of Agreements
After holding meetings in late December 2007, agreements with the leaseholders and Paramount chief Wapula Akipe
were regsitered with the Registar of Mines in PNG. We are now working towards implementing our AML projects on Mt Kare.
These included Joint Venture Agreement, Contract Mining Agreement and Memorandum of Agreement.
Together with this, we have been approached by groups with another 27 Gold Leases and 4 Platinum Leases also available to us.

AML - Mining Licences
As a joint venture partners we along with the Key individuals from the Mt Kare Management Group,
have now undertaken meetings with the relevant government departments to obtain the various AML Licences for the Mt Kare area.
This is another step in securing the
future for the people at Mt Kare and the development of security for the project.

Alluvial Leases
The Alluvial Leases located in the EL1093 area of Mt Kare were granted by the Minister for Mining under the "Mining Act 1992" whereby 16 landowner
groups were given the leases to undertake Alluvial Mining on Mt Kare.
Audit Report by Watts Griffis and McOaut, conducted in March 2001 shows significant deposits in the area able to be compared to the large
Porgera Mine only 15kms from Mt Kare.

Joint Venture Project
Early in 2007 PNG Benefit Corporation Ltd had undertaken significant negoitations with the relevant key people and
Trustee Company invovled with the Mt Kare Project. This has now been seen as a forward movement for the people and the start to
a solution to the long term problem which has plauged many mining areas in Papua New Guinea. The Joint Ventrue will see infrastructure
in the form of Education, Medical Centres and many other Social Benefits for the Loacal Communities.
The Joint Venture Agreement was officially signed on 29th July 2007.

Contact Information
For any information please contact the CEO - Barry Trewin.
Preferred method of initial contact is via email.
Electronic mail
General Information: baz5150@yahoo.com.au