News from the Wire

White Eagle signs contracts with global BIN sponsor Transact Network

Friday, October 15, 2010 — 13:22:02 (EDT)

U.K., Oct. 12, 2010 -- This agreement forms part of White Eagles strategy only to work with pioneering partners who share its vision to expand boundaries within the prepaid market with new innovative solutions.

White Eagle (Europe) Plc is an award winning provider of global end-to-end mobile banking, e-payment, e-wallet and prepaid cash card solutions. Our powerful technology enables our clients to add real value into their customer bases through innovative, secure and easy to use prepaid, mobile and e-payment services. Ensuring that our technology is underpinned by a ‘best of breed’ infrastructure is crucial, as is the ability to offer our client’s choice.

Warren Hardy, CEO of White Eagle said: "We only wish to work with pioneering partners who share our vision in expanding the boundaries of prepaid with new and innovative solutions, and a company that is truly "commercial" and forward looking. With 7 live prepaid programmes currently "in build" due to launch in the next 6 to 8 weeks, it was essential that White Eagle took a strategic and long-term decision to work with a BIN Sponsor who could deliver. After months of research and due diligence it was decided that Transact was best positioned to deliver the dynamic service that we require."

Colin Greaves, CEO of Transact Network commented: "We are delighted that White Eagle has selected Transact. It is a tremendous achievement for our new UK operation and we are looking forward to working together. It is a significant endorsement of the infrastructure we have built at Transact Network which has been designed to address the historic barriers to entry in the European prepaid card market. As this market matures, our systems will give our customers even greater competitive advantage and White Eagle has recognised this through our appointment."

About Transact Network Limited

Transact Network is an authorised and regulated MasterCard and Visa Europe Principal Member providing European BIN sponsorship and modular prepaid card services to program managers and brand owners.

Transact Network issues Visa and MasterCard physical and virtual prepaid cards. The Company’s electronic money license has been successfully passported into every EU and EEA member state enabling the issuance of prepaid card programs across Europe.

The company’s proprietary modular prepaid service platform is fully integrated with many leading processors including Carta, ecommlink, FIS and M2 and can also integrate with client proprietary processing systems, enabling bespoke, scalable solutions, rapid implementation, low entry costs with earlier payback, reliable ongoing management and proven risk reduction. Multi-lingual project teams are dedicated to service client prepaid card programs.

Transact Network clients include regulated financial institutions, financial services companies, marketing organizations, mobile phone operators, retail chains, large and small corporates, and governments.

About White Eagle

White Eagle (Europe) Plc was founded in 2005 and is an award winning provider of global end-to-end e-payment, e-wallet, prepaid card and mobile banking solutions. Our powerful technology enables our clients around the world to add real value into their customer bases through delivering innovative, secure and easy to use e-payment and prepaid card services. For more information please visit the White Eagle website www.white-eaglegroup.com .

White Eagle (Europe) Plc is an Approved MasterCard and Visa Member Service Provider

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Source: Company press release.