can't move pagefile on SD card

Hello boys and girls,
I'm playing these days with my Asus Eee + Windows XP SP2* on it but I have a little small problem.
I want to move the page file to an SD HC card of 4 GB that is formated with FAT32 (disk partitioner in XP doesn't let me format it as NTFS) and I'm already using it. Everything works on it except the fact that I'm trying to move the pagefile to SD card which has letter E: and I set it for performance, not for quick removal* move.
I select a size for pagefile on it -e:- and reboot but it doesn't appear on the drive after reboot.
I tried to enable pagefile for both the SDD and the SD HC card but nothing. dunno what to try.
any ideas?