STATE OF ALABAMA COMMISSION ALABAMASECURlTIES

OF: INTHEMATTER NETWORK PLEXPAY JORGENSEN FRODE RESPONDENTS

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ORDER ADMINISTRATIVE NO.CD-2007-ooog

ORDER ANDDESIST CEASE and to authority administer having ("Commission"), Securities Commission The Alabama 1975,the 6, of provide the enforcement all provisions Title8, Chapter Codeof Alabama of for and matterhereof, having of Act Alabama Securities ('Act"),upondue consideration the subject into, information the offersfor saleand/orsaleof securities, withinor fromthe state of confirmed as has of Alabama, determined follows:

RESPONDENTS is 1. pLEXpAy NETWORK(.PLEXPAY") a west lndies based companywith a WestIndies. Nevis, Charlestown, of address P.O.Box556,Maintown, business was ('JORGENSEN"), all timesrelevant, a representative at 2. FRODEJORGENSEN Gate 1, 7013, of address Schultz with a business NETWORK, and the CEO of PLEXPAY Norway. Trondheim,

OF STATEMENT FACTS issuedby contracts offeredand sold investment 3. In May of 2005,JORGENSEN in wouldbe invested pLEXpAy to an Alabamaresident, that representing the fundsreceived 2o/o on providing guaranteed return the investmenlof a day. a and reafproperty bankmergers 4. In May of 2005, the Alabama resident deposited$3,280.00directly into St' in account LoyalBank,CedarHillCrest,P.O.Box1825Kingstown, Vincent JORGENSEN's provided by with West Indiesby wire transferin accordance instructions and the Grenadines,

into directly totaling deposits The Alabamaresident made additional $20,000.00 PLEXPAY. months. in account LoyalBankoverthe nextseveral JORGENSEN's files 2006 a reviewof the registration of the AlabamaSecurities 5. In November, Agent, as for no disclosed recordof the registration RESPONDENTS a Dealer, Commission in or AdvisorRepresentativethe stateof Alabama. Advisor, Investment Investment files of the AlabamaSecurities 2006 a reviewof the registration 6. In November, for or Commissiondisclosedno registration exemptionfrom registration the investment and three(3) of thisorder,offered soldby RESPONDENTS' to referred in paragraph contracts, failed to discloseto the AlabamaInvestorthat PLEXPAY 7. RESPONDENTS Orderby the and Desist of werethe subjects a Cease JORGENSEN NETWORK FRODE and issuedon August9, 2005basedon the saleof unregistered, Commission Kansas Securities real propertyand bank contractsinvolving securitiesin the form of investment nonexempt mergers.

OF CONCLUSIONS LAW of 1975,the definition "security" 8-6-2(10), Codeof Alabama to Pursuant Section describedin contract.The offeringmade by RESPONDENTS includesany investment under and is a security contract paragraph of three (3) fallswithinthe definition an investment 8. theAct. to for 1975,lt is unlawful any person 8-6-3,Codeof Alabama to 9. Pursuant Section Advisor or Advisor lnvestment or in transact business thisstateas a Dealer Agent,Investment are underthe Act. RESPONDENTS not for unlesshe is registered Representative securities in Representative the Advisor Advisoror Investment Agent,Investment as registered a Dealer, in transactions the stateof Alabamawith an state of Alabama,and have effectedsecurities the violated and PLEXPAY JORGENSEN of resident.The actions RESPONDENTS Alabama 1975. provisions Section 8-3-6, Codeof Alabama of to for it 1975, is unlaMul any person 8-6-4,Codeof Alabama Section 10. Pursuantto
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is underthe Act;the security exempt in offeror sell any security this stateunlessit is registered The 8-6-11. underSection is or 8-6-10; the transaction exempt underSection fromregistration securitiesreferencedin paragraph3 of this order that were offered and sold by the fromregistration nor registered exempt wereneither resident to RESPONDENTS the Alabama violatedthe and JORGENSEN PLEXPAY in Atabama. The actionsof RESPONDENTS 1975. provisions Section 8-6-4, Codeof Alabama of suchothercivilor criminal from the This Orderdoes not prevent Commission seeking to that remedies are available it undertheAct. and is of for in This Order is appropriate the publicinterest the protection investors of with consistent the purposes the Act. PLEXPAY AcCORDINGLY,IT IS HEREBY ORDEREDthAt RESPONDENTS, or offers fromfurther ANDDESIST GEASE immediately JORGENSEN and NETWORK FRODE or into,within fromthe stateof Alabama. salesof any security

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ES SECURITI COMMISSION ALABAMA 570 Suite Avenue, 770Washington AL Montgomery, 36130-4700 (334)242-2984