__4th___Quarter report for ___GPN___________	Date:	8/14/2012

Percentage change in Sales from year ago quarter____14.9____________

Percentage change in Earnings per Share from year ago quarter____-90.3___________

(from top left box on p. 1 of SSG)

Is company meeting our target sales & earnings estimates at bottom of p. 1 of SSG? Yes for sales, no for EPS

Pre-tax Profit on sales trend? (up, even, down) DOWN

Return on equity trends? (up, even, down) DOWN

Debt? (up, even, down) DOWN

Current PE is __17.9______. (Section 3 SSG)

Where does it fall in my estimated High/low range of PE's?__Upper_______

Signature PE =__22.3_______

Club cost basis for this stock is __38.57______. Current price is ____42.33____________

(from latest valuation)

Has stock met S&P's 12-month target price from a year ago?___Yes, then price decreased (50.00)

Current fair value: Morningstar:_Not updates since 3/30/12_ S&P:___$46.20___________

My SSG Total Return is ___11.2%_________Projected Average Return is _____5.8%________

What will drive future growth? _Continuing US Growth. And the co. plans to acquire the remaining 44% state that it did not already own in the Asia-Pacific Joint venture established with HSBC in 2006.

Additional comments: Risks include lower debit card usage, pricing pressure, unfavorable currency fluctuations, widespread bankruptcies among GPS merchants, customer losses and turnover within the outside companies used to acquire new merchant relationships (ISOs). The security preach will be a cloud over the company for some time because of the probability of additional expenses incurred (security upgrades, remediation, and legal expenses).

Recommend: Buy More ____, Hold____X_____, Challenge with a better investment__X____, Sell____.