Mobile Union Launches Online Remittance Service

LONDON, March 4, 2010 - Mobile Union Ltd announces the launch of its new online
remittance service (www.mtxpress.com), mtxpress, which uses a secure
SMS platform to provide a low-cost and convenient solution for people in the
UK to send money to friends and family abroad.

According to the most recent DFID UK Remittance Market Report,
the UK is one the top 10 remittance-originating countries worldwide, with
approximately GBP2.4 billion recorded outward remittances annually from the
UK to the developing world. Mobile Union is taking a new approach to
remittance by focusing on a massive under-served market segment: people who
want to send smaller amounts of money without being penalised with high fees.
Mobile Union's service enables people to send money safely and securely from
their home or workplace without the need to visit a retail location;
immediately stripping out the costs in time and money associated with a
retail infrastructure and passing on these savings to customers. After
registration online, with a user-friendly, simple and easy interface,
customers can then send money securely using their debit card. Within
seconds, the recipient is notified by SMS message that money is available for
collection, leveraging the ubiquitous reach of mobile phones throughout the
developing world.

Steven Faulkner founder and Commercial Director of Mobile
Union commented:"mtxpress makes sending money home fast and convenient
(www.mtxpress.com). A combination of simple pricing and exchange rates
directly linked to the Central Bank rate makes it easy to understand the true
cost of sending money home."

Security is of paramount importance to Mobile Union and there are
multiple bank-grade security checkpoints for both the sender and recipient of
the remittance, enabling customers to have certainty throughout the
transaction lifecycle leading to complete peace of mind. In addition,
Barclays Bank is providing the day-to-day banking and merchant services and
Cybersource, the world's first online payment management company, processing
debit card transactions.

This week's launch focuses on the UK to Bangladesh market,
where Mobile Union has collaborated with BRAC Bank, one of the leading banks
in Bangladesh. This partnership will enable recipients, without the
requirement of a bank account, to utilise the bank's extensive network of
locations across the country to receive money. However, it is also possible
to credit accounts maintained at BRAC Bank.

This template is one that Mobile Union will continue to use as
it rolls out its service to other parts of South East Asia and West Africa
later this year, providing an accessible service to the underserved.

Speaking about the launch of the service, Randall Harper, CEO
for Mobile Union said: "The UK's remittance market continues to grow, but
little attention has been given to people who want to send smaller amounts of
money without incurring the high fees. Through our mtxpress service and its
secure SMS platform, we are able to provide this under-served segment of the
market with a world-class service that is convenient, instant and great
value-for-money."

Notes to Editors:

About Mobile Union

    - Mobile Union Ltd's service, mtxpress, is an online
      peer-to-peer remittance service and more information about the service
      can be viewed here: www.mtxpress.com

    - Transaction fees are all inclusive starting at GBP2 rising
      to a maximum of GBP6,

    - Foreign Exchange rates for the service to Bangladesh are
      linked directly to the official exchange rate set by the Central Bank
      in Bangladesh.

    - The mtxpress service is licensed by HMRC and registered with
      the FSA in the UK. mtxpress is approved by the Central Bank in
      Bangladesh,

    - mtxpress is reliable, safe and secure featuring bank grade
      security across the technology platform. Each remittance can be tracked
      online and money is only released to the recipient once identity
      verification and transaction authentication has taken place.

    - Confirmation is automatically emailed to the sender on
      collection of funds.

    - The mtxpress service is available on any mobile phone
      network and handset.

    - Bangladesh is one of the top ten mobile phone growth markets
      in the Asia-Pacific region.

    - A report released by Juniper Research indicates that
      consumer demand for mobile money transfer services will see users
      exceed 500 million globally by 2014, principally in developing
      countries.

    - Other sending countries will be added during 2010.

About BRAC Bank

    - BRAC Bank Limited, with institutional shareholdings by BRAC,
      ShoreCap International and International Finance Corporation (IFC) has
      been the fastest growing bank in Bangladesh. It is the youngest bank in
      the country that started journey in 2001 and in just over 8 years has
      become the sixth largest Bank in Bangladesh.

    - The Bank operates under a "double bottom line" agenda where
      profit and social responsibility go hand in hand as it strives towards
      a poverty-free, enlightened Bangladesh.

    - A universal bank, BRAC Bank Ltd focuses on pursuing
      unexplored market niches in the Small and Medium Enterprise Business
      seector that hitherto has remained largely untapped within the country.
      The Bank is the largest SME Financier in Bangladesh, disbursing over
      BDT 100 billion to date to nearly 265,000 small and medium
      entrepreneurs.

    - BRAC Bank also has the largest online distribution network
      among private commercial banks in the country with 69 branches, 59 SME
      Service Centres, 179 ATMs, 429 SME unit offices and over 1,900
      Remittance delivery points across the country serving over 800,000
      customers.

    - BRAC Bank operation now cuts across all segments and
      services in financial industry and continues to broaden its horizon
      into Retail, Corporate, SME, Remittance and other arenas.

The mtxpress fee structure

mtxpress fee structure is simple to understand, fixed cost and
all transaction fees are paid by the sender. No additional charges are made
by Brac Bank.

    - Sending GBP20 costs GBP2

    - Sending GBP21 - GBP100 costs GBP3

    - Sending GBP101 - GBP200 costs GBP5

    - Sending GBP201 - GBP300 costs GBP6

For more information, please contact: Bieneosa Ebite, Bright Star Public Relations, Tel: +44-(0)203-212-2152, Mob: +44-(0)7958-044-321, Email bieneosa.ebite at brightstarpr.net