NETELLER DIVERSIFIES FURTHER

(690) (12-October-2006)

Two new country specific versions in Denmark and Sweden

The Isle of Man regulated online money transfer business Neteller has announced the latest milestone in its market diversification strategy by formally launching two new country specific versions of its service in Denmark and Sweden.

The two new localised versions of the company's service represent the fifth and sixth new European products launched by Neteller during 2006. The company, which has customers in over 160 countries, launched sites in Germany, France, Spain and Italy earlier this year and expects to announce more localised services in the next few months.

Neteller has also announced a number of significant improvements to its e-wallet service. These are designed to offer merchants greater freedom and control over which markets they operate in, drive customer acquisition, and harmonise terms and conditions globally.

Greater Choice for Merchants

In an enhancement to the NetDirect merchant platform, the Company has released new capabilities which allow merchants the freedom to define which global markets they wish to operate in. These new features work by enabling merchants to maintain country black-lists that block any money transfers from customers in those countries.

Refer-a-Friend Program

To further drive customer acquisition NETELLER has made its refer-a-friend programme more appealing. Now NETELLER pays direct cash incentives for each new referral.

Commitment to Consistent High Standards in Business

Neteller has also achieved a significant milestone in its 12-month programme to harmonise its terms and conditions across Europe, North America, and parts of Asia. Recent changes for North America enable the company to apply the same high standards that it uses in compliance with FSA authorisation and Joint Money Laundering Steering Group activities across all geographies.

As part of this commitment to apply standards consistently across the Company, Neteller maintains all of its customers' deposited, in-transit, and un-cleared funds in Trust Accounts, which are segregated from the Company's own cash balances. Therefore all customers can be confident that their money is held safely and funds can be transferred with total flexibility, speed and simplicity.

Ron Martin , President and CEO of Neteller commented: "These updates, including new Danish and Swedish services, merchant platform improvements, and harmonised terms demonstrate our unwavering commitment to our customers and merchants."