G RETAIL LIMITED (GBR)

name changed to Retail Star Limited

effective Monday 21 August 2006, G Retail Limited (GBR) will change to Retail Star Limited and the ASX code for the Company from that time onwards will be "RSL"

company advises that all of the resolutions considered at the General Meeting of Shareholders held on 15 August 2006 were passed on a show of hands - in the next few weeks the Company (now called Retail Star Limited) intends to complete the issue of up to 120,000,000 shares at an issue price of not less than $0.012 each to raise up to $1,440,000 - On completion of this, the Company is confident that ASX will reinstate its securities to trading

a General Meeting of shareholders will be held at 11am (EST) on 15 August 2006 at Nicols and Brien, Level 2, 350 Kent Street, Sydney, New South Wales - the meeting is to consider restructuring and recapitalisation proposals

deed administrators advise that they are hopeful a shareholders meeting will be held over the next two months to consider a proposal for the recapitalisation of the company

the 2nd meeting of creditors was held today - at this meeting the creditors resolved that the company execute a Deed of Company Arrangement

administrator says a closing down sale in the Market Street store and trading at the Alexandria clearance store are reaching final stages, with both stores expected to be closed by the end of the month - a second meeting of creditors is expected to be held during February where the Administrators will announce whether sufficient assets have been realised to pay a dividend to the unsecured creditors

Mr Chris Charleson resigns as Company Secretary with immediate effect

administrators announce they will close two more stores - Hornsby and Oxford Street, Paddington - in mid January 2006 and from today will commence a closing down sale with further reductions on stock - the business will continue to trade under voluntary administration, but it will predominantly be out of the flagship Market Street store

administrators shut the Wynyard shop because of its poor financial performance

we understand the administrators are assessing the profitability of each store and are looking at selling the business as a going concern

shares suspended from quotation immediately, following the appointment of Peter Yates and David Lombe of Deloitte as Administrators of the Company - this never augurs well for shareholders but it is too early to speculate on the outcomes

reports that Lowes walked away from a rescue buyout yesterday having failed to agree on a deal

name changed from Gowings Retail Limited