SOURCE: Entropia Universe

August 24, 2006 00:01 ET

Entropia Universe Teams With Paysafecard.com to Launch Convenient and Safe Online Monetary Deposit System

New Payment Model Offers Entropians a Fast and Easy Solution for Depositing Money Into Virtual Accounts Without Having to Use a Personal Debit/Credit Card

LEIPZIG, GERMANY -- (MARKET WIRE) -- August 24, 2006 -- Games Convention -- Entropia Universe, the fastest growing virtual world utilizing a real cash economy, today announced the launch of a new monetary deposit platform designed by Paysafecard.com. Paysafecard is Europe's first prepaid card for online payments. Entropia Universe utilizes the Paysafecard technology to allow Entropia members to quickly deposit money into virtual accounts without having to use a debit or credit card. MindArk/Entropia Universe will be at the Games Convention this week, August 24 - August 27, in Leipzig, Germany, debuting the card and the new monetary deposit model in Hall 5, Booth A 03 of the exhibit floor.

The new system creates a safe, convenient and seamless process for anonymously transferring cash to one's avatar. The process begins with the purchase of a prepaid card (increments of EUR 10, EUR 25, EUR 50, EUR 100) at one of the many general retail outlets in Europe. The card contains a (scratch and reveal) PIN code which is then entered into the Entropia deposit system for easy transfer of funds without the use of a debit or credit card.

"Paysafecard is a respected name in Europe, and we welcome the opportunity to utilize its service and technology," says Marco Behrmann, CIO for MindArk, developer of Entropia Universe. "We realize not everyone has immediate access to a debit/credit card, therefore we wanted to create a convenient and safe way for members to quickly deposit money into their virtual accounts within Entropia."

Paysafecard is Europe's leading prepaid payment card for alternative online payment systems. The design allows for easy and secure online shopping without the need of giving away personal data. The success of Paysafecard is strongly based on close co-operations with strategic partners from the banking and information technology sectors including, IBM, the German Commerzbank AG and the Austrian BAWAG P.S.K. bank.

Entropia Universe is the only virtual gaming community that actively supports sales of virtual products with actual cash value within its real economy system. The economy offers the user a secure and safe way to make purchases, sales and exchange real-life currency into PED (Project Entropia Dollars) and back again into real money, at a fixed exchange rate to the US Dollar. PED allows members to invest in personal development and growth through the acquisition of goods, buildings, and land in the virtual universe.

In December 2004, Entropia Universe set a world record, certified by the "Guinness Book of World Records," when it sold a virtual Treasure Island for $26,500 USD as the largest virtual dollar amount spent, to 22-year-old Australian David Storey, a.k.a. "Deathifier." The recent sale of the Space Resort for $100,000 USD to famed gamer, Jon 'NEVERDIE' Jacobs, sets a new record for the most valuable virtual item. In 2005, the Entropia Universe GNP was an estimated $165,000,000 USD and is expected to double in 2006.

About Entropia Universe and MindArk

Entropia Universe is a registered trademark of MindArk PE AB. MindArk supports and monitors the services and maintenance of the Entropia Universe site. MindArk began in April of 2003 in Sweden, and has expanded to have partners throughout the world. Entropia Universe was launched in 2003 and has reached over 470,000 registered accounts. MindArk offers the Entropia Universe software to users free of charge with no monthly costs or associated subscription fees. For more information or to download the free Entropia Universe software please visit www.entropia-universe.com.

About Paysafecard.com

Paysafecard.com Wertkarten AG is a Vienna-based company with two subsidiaries in Vienna, Austria, and Düsseldorf, Germany, that has evolved into the leading European provider of alternative online payment systems. Paysafecard, Europe's first prepaid card for shopping on the internet, is a secure, simple and anonymous method of payment enabling everyone to perform online transactions. Paysafecard has been approved by banking supervision authorities. The BAWAG P.S.K. bank issues and administers Paysafecard as legal tender in Austria, while it is issued in Germany, Greece and Slovenia by the Commerzbank AG. For more information please visit www.paysafecard.com.

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