SOURCE: Coastal Services Group, Inc.

July 28, 2005 07:00 ET

Coastal Services Group (Pink Sheets: CSVG) Adds Availability of Pre-Paid Debit Card for U.S. Customers

FALLS CHURCH, VA -- (MARKET WIRE) -- July 28, 2005 -- Coastal Services Group, Inc. (OTC: CSVG), a provider of telecommunications and related services to Africa and African immigrants in the United States, announced today that it had executed an agreement for the supply of pre-paid debit cards to its target market in the United States.

Coastal's pre-paid debit card is offered in conjunction with a reputable United States bank that has provided pre-paid debit cards for a number of years. The arrangement enables Coastal access to pre-paid debit cards and associated services at wholesale rates from a supplier that does not compete for Coastal's end consumer.

Pre-paid debit cards are a rapidly growing segment of the financial services industry, appealing to those who want the convenience and security of a global, branded VISA or MasterCard that can be used to withdraw cash at most ATMs worldwide but does not carry the credit requirements of conventional cards. Pre-paid debit cards work within the international banking system and are secured by individual PINs. They have numerous applications, eliminating the need to carry significant amounts of cash for individuals without bank accounts, facilitating convenient payroll transfers, reducing the risk of Internet shopping, and supporting international money remittances (a $93 billion global market in 2003) through easy card-to-card transfers.

Pre-paid debit cards from Coastal will be rechargeable with cash at over 30,000 "Green Dot"™ locations in the United States, including major chains such as Rite Aid, CVS, Safeway, Radio Shack and Sunoco.

African immigrants understand the pre-paid format and Coastal's pre-paid debit card will be marketed alongside or as a bundled service with Talk Afrika (www.TalkAfrika.com), Coastal's low-cost telephone calling card for U.S. domestic and United States-to-Africa calls.

About Coastal Services Group

Coastal Services Group, Inc. (OTC: CSVG) is headquartered in Falls Church, Virginia. The company owns and operates telecommunications networks offering wireless, broadband and other related services for its customers in Africa and also services the African immigrant market in the United States. For additional information on the company, please visit www.coastalservicesgroup.com or email investor@coastalservicesgroup.com.

Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements'' as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Coastal Services Group disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, and changes in our business strategies.

Contact Information

  • Investor Contact:
    Jesus Rodriguez
    305.776.4535