Net 1 UEPS Technologies Inc.

Net 1 UEPS Technologies Inc.

January 26, 2007 16:01 ET

Net1 to Present at Morgan Stanley Technology Conference

JOHANNESBURG, SOUTH AFRICA--(CCNMatthews - Jan. 26, 2007) - NET1 UEPS Technologies Inc. ("Net1" or the "Company") (NASDAQ:UEPS) announced today that Chief Executive Officer Serge Belamant and Chief Financial Officer Herman Kotze will present an overview of the Company strategy and business opportunities at the Morgan Stanley Technology Conference.

The presentation will be take place at 2:15 p.m. Pacific Standard Time on Wednesday, March 7, 2007 at the Palace Hotel, 2 New Montgomery Street, San Francisco, California. A live webcast of the presentation will be available via the web at

About Net1 (

Net1 provides its universal electronic payment system, or UEPS, as an alternative payment system for the unbanked and under-banked populations of developing economies. The Company believes that it is the first company worldwide to implement a system that can enable the estimated four billion people who generally have limited or no access to a bank account to enter affordably into electronic transactions with each other, government agencies, employers, merchants and other financial service providers. To accomplish this, the Company has developed and deployed the UEPS. This system uses secure smart cards that operate in real-time but offline, unlike traditional payment systems offered by major banking institutions that require immediate access through a communications network to a centralized computer. This offline capability means that users of Net1's system can enter into transactions at any time with other card holders in even the most remote areas so long as a portable offline smart card reader is available. In addition to payments and purchases, Net1's system can be used for banking, health care management, international money transfers, voting and identification.

Net1's recently acquired subsidiary, Prism, is a company focused on the development and provision of secure transaction technology, solutions and services. Prism's core competencies around secure online transaction processing, cryptography and integrated circuit card (chip/smart card) technologies are principally applied to electronic commerce transactions in the telecommunications, banking, retail, petroleum and utilities market sectors. These technologies form the cornerstones of the "trusted transactions" environment and provide us with the building blocks for developing secure end-to-end payment solutions.

4th Floor, North Wing,
President Place, Cnr. Jan Smuts Avenue and Bolton Road
Rosebank, Johannesburg, South Africa
Tel: 011-27-11-343-2000
FAX: 011-27-11-880-7080

Contact Information

  • Net 1 UEPS Technologies Inc.
    William Espley
    Net1 Investor Relations
    (604) 484-8750 or Toll Free: 1-866-412-NET1 (6381)