Insider Trades - FELDMAN MICHAEL D

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FELDMAN MICHAEL D: Declared Holdings
Company/Relationship	Reported	Shares	Ownership
G S E SYSTEMS INC Officer AMEX:GVP (historical quotes, profile, SEC, other insiders)	22-May-09	206	Direct

Insider & restricted shareholder transactions reported over the last two years
Date Shares Stock Transaction
22-May-09 6,000 GVP Option Exercise at $1.85 per share.
(Cost of $11,100)
22-May-09 6,000 GVP Sale at $5.45 - $5.52 per share.
(Proceeds of about $33,000)
21-May-09 6,000 GVP Option Exercise at $1.85 per share.
(Cost of $11,100)
21-May-09 6,000 GVP Sale at $5.40 - $5.45 per share.
(Proceeds of about $33,000)

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Insider & restricted shareholder transactions reported over the last two years
Date	Shares	Stock	Transaction
22-May-09	6,000	GVP	Option Exercise at $1.85 per share. (Cost of $11,100)
22-May-09	6,000	GVP	Sale at $5.45 - $5.52 per share. (Proceeds of about $33,000)
21-May-09	6,000	GVP	Option Exercise at $1.85 per share. (Cost of $11,100)
21-May-09	6,000	GVP	Sale at $5.40 - $5.45 per share. (Proceeds of about $33,000)