FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person *   KINGSTOWN CAPITAL PARTNERS, LLC 2. Date of Event Requiring Statement (Month/Day/Year) 12/31/2008 3. Issuer Name and Ticker or Trading Symbol WHITNEY INFORMATION NETWORK INC [RUSS] (Last) (First) (Middle) 1270 BROADWAY, SUITE 1009 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) __X__ Other (specify below) See Footnote 1. 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) NEW YORK, NY 10001 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 2,450 I (1) By Guy Shanon (2) Common Stock 297,500 I (1) By Kingstown Capital Management L.P. (3) Common Stock 883,500 I (1) By Kingstown Partners L.P. (4) Common Stock 14,800 I (1) By Michael Blitzer (5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
KINGSTOWN CAPITAL PARTNERS, LLC 1270 BROADWAY SUITE 1009 NEW YORK, NY 10001	Â	Â	Â	See Footnote 1.
BLITZER MICHAEL 1270 BROADWAY SUITE 1009 NEW YORK, NY 10001	Â	Â	Â	See Footnote 1.
SHANON GUY 1270 BROADWAY SUITE 1009 NEW YORK, NY 10001	Â	Â	Â	See Footnote 1.
KINGSTOWN PARTNERS L.P. 1270 BROADWAY SUITE 1009 NEW YORK, NY 10001	Â	Â	Â	See Footnote 1.
KINGSTOWN CAPITAL MANAGEMENT L.P. 1270 BROADWAY SUITE 1009 NEW YORK, NY 10001	Â	Â	Â	See Footnote 1.
KINGSTOWN MANAGEMENT GP LLC 1270 BROADWAY SUITE 1009 NEW YORK, NY 10001	Â	Â	Â	See Footnote 1.

Signatures

By: By: Michael Blitzer, Managing Member		03/12/2009
**Signature of Reporting Person		Date
/s/ Blitzer, Michael		03/12/2009
**Signature of Reporting Person		Date
/s/ Shanon, Guy		03/12/2009
**Signature of Reporting Person		Date
By: By: Kingstown Capital Partners LLC, its General Partner, By: Michael Blitzer, Managing Member		03/12/2009
**Signature of Reporting Person		Date
By: By: Kingstown Management GP LLC, its General Partner, By: Michael Blitzer, Managing Member		03/12/2009
**Signature of Reporting Person		Date
By: By: Michael Blitzer, Managing Member		03/12/2009
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This report is filed jointly by Kingstown Capital Partners LLC ("Kingstown GP"), Kingstown Partners L.P. ("Kingstown"), Kingstown Capital Management L.P. ("Kingstown Capital"), Kingstown Management GP LLC ("Kingstown Management"), Michael Blitzer and Guy Shanon. Kingstown GP is the general partner of Kingstown. Mr. Blitzer and Mr. Shanon are each managing members of Kingstown GP. Kingstown Management is the general partner of Kingstown Capital. Mr. Blitzer and Mr. Shanon are each managing members of Kingstown Management. By virtue of these relationships, each of the reporting persons may be deemed to be beneficial owners of more than 10% of the outstanding common stock of Whitney Information Network, Inc. (the "Issuer"). Each of the reporting persons disclaims beneficial ownership of shares of common stock of the Issuer not directly owned by it/him, except to the extent of its/his pecuniary interest therein.
(2)	Represents shares owned directly by Mr. Shanon.
(3)	Represents shares beneficially owned by Kingstown Capital that were acquired for the account of Absolute Opportunities Fund, a mutual fund, for which Kingstown Capital is a subadviser.
(4)	Represents shares owned directly by Kingstown.
(5)	Represents shares owned directly by Mr. Blitzer.

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