X0202 4/A 2006-09-13 2006-09-14 0 0001095276 WHITNEY INFORMATION NETWORK INC RUSS 0001218340 WHITNEY RUSSELL A WHITNEY INFORMATION NETWORK, INC. 1612 E. CAPE CORAL PARKWAY CAPE CORAL FL 33904 1 1 1 0 Chairman of the Board Common Stock 2006-09-13 4 M 0 75000 1.81 A 5340600 I By International Securities 3, LLC Common Stock 2006-09-13 4 M 0 15000 3.70 A 5355600 I By International Securities 3, LLC Common Stock 2006-09-13 4 M 0 11250 4.50 A 5366850 I By International Securities 3, LLC Employee stock option (right to buy) 1.81 2006-09-13 4 M 0 75000 0 D 2002-04-01 2012-04-01 Common Stock 75000 0 I By Spouse Employee stock option (right to buy) 3.70 2006-09-13 4 M 0 15000 0 D 2003-03-13 2013-03-13 Common Stock 15000 0 I By Spouse Employee stock option (right to buy) 4.50 2006-09-13 4 M 0 11250 0 D 2004-01-28 2004-01-28 Common Stock 11250 3750 I By Spouse Reported in the Original Form 4 as "X." Reported in the Original Form 4 as 5,335,600. As of the Transaction Date, International Securities 3, LLC was jointly owned by the Reporting Person and his spouse, Ingrid Whitney. Reported in the Original Form 4 as "X." Reported in the Original Form 4 as 5,350,600. Reported in the Original Form 4 as "Z." Reported in the Original Form 4 as 5,361,850. Reported in the Original Form 4 as "X." Reported in the Original Form 4 as $1.81. Reported in the Original Form 4 as 155,000. Reported in the Original Form 4 as "X." Reported in the Original Form 4 as $3.70. Reported in the Original Form 4 as 140,000 Reported in the Original Form 4 as "W." Reported in the Original Form 4 as $4.50. Reported in the Original Form 4 as 128,750. This Form 4/A amends the Form 4 filed on September 14, 2006 (the "Original Form 4") by correcting information reported in Columns 3 and 5 of Table I and Columns 4, 8, and 9 of Table II. This Form 4/A reports the issuance of Common Stock to International Securities 3, LLC upon the exercise of employee stock options by the Reporting Person's spouse, Ingrid Whitney. /s/ Russell A. Whitney 2008-05-22