Transact Network Launches UK Sales Subsidiary

Former Newcastle Card Services COO Kriya Patel to Lead New Office in Talent-Rich North East England

GIBRALTAR, August 3, 2010 - Transact Network, the European e-money issuer, BIN sponsor and prepaid
card provider, announced today that Mr Kriya Patel is joining the group as
sales director and will spearhead the company's new UK sales and marketing
company based in Newcastle. Mr Patel was most recently chief operating
officer at Newcastle Card Solutions (NCS). He will start at Transact Network
on September 6.

Mr Patel's experience in the prepaid card industry has contributed to the
success of NCS, which has grown to more than US$1.6 billion in transaction
value processed in 2009 with more than 1.25 million active cards put in
circulation by the end of 2009. NCS has acquired more than 300 new programs
since 2005.

Newly appointed Chief Executive Officer Colin Greaves said: "Kriya's
experience at NCS made him our number one candidate to lead this sales and
support operation. Our business case for Kriya and his team being based in
the North East of England is primarily due to abundance of talented sales and
support staff there with highly developed prepaid card experience."

Mr Patel's move to Transact Network is the second senior appointment
announced recently by the Gibraltar-based company. In May, Transact Network
appointed Mr Greaves as chief executive officer after he had served as
operations director at Newcastle Building Society.

Mr Greaves started in his new role on August 1.

Messrs Greaves and Patel join the company at a key moment in the history
of the E-money issuer and modular prepaid card services provider. The company
is poised for explosive growth as its 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 unique local
and corporate loading capabilities also give it real competitive advantage.

Mr Greaves added: "The opening of our UK Subsidiary is a significant step
for Transact Network as our research shows that there is a need for a
committed, high-quality provider with a sales and support operation within
the United Kingdom following recent strategic changes in the prepaid and
debit market."

Notes to editors:

1.) 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. MasterCard and
Visa Europe Principal Members are financial institutions that issue cards for
use on the MasterCard and Visa Networks.

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.

2.) Biography of Kriya Patel

Mr. Patel has an extensive background in the finance sector spanning
nearly 13 years. He is an industry-leading figure in prepaid and was most
recently chief operating officer of Newcastle Cards Solutions at Newcastle
Building Society, Newcastle's renowned and market leading prepaid card
division. During his tenure, NCS achieved many notable firsts including
initiatives in gift, teen, travel and money share cards, and also issued
Europe's first prepaid contactless cards. Mr. Patel has held the following
senior positions of Head of Mortgage Solutions, Head of System Solutions, IT
Manager for third party services and senior project manager during his time
at NBS.

Mr. Patel has a bachelor of science in Business Information Systems from
Sheffield Hallam University and is also a qualified ITIL practitioner.

For further information on Transact Network visit
www.transactnetwork.com or contact Pete Burgess at
corp_com@transactnetwork.com or on +350-200-03835 or
James Pieper on +33-475-56-93-31 or at james.pieper@cornascom.com.

For further information on Transact Network visit
www.transactnetwork.com or contact Pete Burgess at corp_com at transactnetwork.com or on +350-200-03835 or James Pieper on +33-475-56-93-31 or at james.pieper at cornascom.com.