SOURCE: Flint Telecom Group, Inc.

Flint Telecom Group, Inc.

November 23, 2010 08:36 ET

Flint Telecom Announces Prepaid Debit Card Program Processing Agreement With International Money Management Inc. (IMM)

IMM Plans to Introduce Card to Hundreds of US Retail Outlets Commencing 1st Quarter 2011

OVERLAND PARK, KS--(Marketwire - November 23, 2010) - Flint Telecom Group, Inc. (www.flinttelecomgroup.com) (OTCBB: FLTT) today announces that its wholly owned financial transaction processing company Power2Process, has entered into a multi-year agreement with International Money Management, Inc. ("IMM") (www.immcard.com) a California-based financial services marketing company. The agreement allows IMM to introduce an innovative prepaid card to immigrants living in the United States. The prepaid IMMCard is uniquely connected with an "affiliated" debit card issued by IMM's international banking partner in South America, Central America and the Caribbean.

The agreement between Power2Process and IMM provides a technological integration that provides IMMCard cardholders a secure, inexpensive and rapid method of administering international money transfers, while bestowing most of the benefits of a credit card. All IMMCard transactions are exceptionally convenient for both the sender and the recipient.

The IMMCard provides a lower cost alternative to typical international money transfer agents, such as Western Union, MoneyGram and bank wire transfers. Additionally, the IMMCard will include a loyalty program giving cardholders lifestyle benefits and services that include discounts on long distance calling cards & mobile banking. In addition IMM has a program offering fixed-price health plans to families of cardholders living outside the United States.

IMM plans to introduce the IMMCard in the 1st quarter of 2011 for U.S.-based customers. The initial program launch will be released in the greater New York and New Jersey markets, with a view towards expanding the program throughout the United States. IMM and their distribution partners have relationships with hundreds of retail outlets that will serve as IMMCard point-of-purchase stations for national & international money transfers as well as funds loading.

"Working with the Power2Process team has proven to be particularly beneficial for us because their sound advice has been critical in helping us navigate the path to building our IMM System processes," states Gil Figueroa, CEO for IMM. "Power2Process's international experience has been an invaluable key component, allowing us to complete a sophisticated international bank messaging system that speaks to the heart of our IMMCard Services Protocol."

Bernard A Fried, President and COO of Flint Telecom Group, stated: "We are delighted to be working with IMM. They have built a very effective sales and marketing organization to reach their target markets. With the help and support of Power2Process, they have been able to structure and offer a very powerful prepaid product for sale. Although there are other financial processors in the U.S. that provide processing for debit card programs, we believe that not many offer the support and all of the integrated features and competitive pricing offered by Power2Process."

Vincent Browne, Chairman and CEO of Flint Telecom Group, commented: "This is the second processing agreement in less than a month for our new Power2Process subsidiary. This agreement continues to demonstrate what we believe will be the growing success of our strategic acquisition of Power2Process. The beauty of these multi-year agreements is the sustainable and growing stream of recurring transaction fees from each and every transaction completed that are paid directly to us by the underlining funds, with no risk to Flint Telecom."

About Flint Telecom Group, Inc.
Flint Telecom Group Inc. is a fast growing Telecoms Technology Organization with a portfolio of companies that deliver next-generation IP communications Products and Services. The Company was founded by telecom and technology entrepreneurs with a proven track record in building global technology companies. Flint Telecom has grown both organically and through corporate activity and is traded on the OTC Bulletin Board® (OTCBB) under the ticker FLTT.OB. Additional information may be found at www.flinttelecomgroup.com

About International Money Management Inc.
International Money Management, Inc., a Florida corporation, provides immigrant communities working in the United States with access to the U.S. banking system and simplifies the process of sharing money with family and friends throughout Latin America and the Caribbean. The IMM financial network is a lower cost alternative to traditional international money transfer agents, as well as bank wire transfers. IMM strategic international banking partnerships facilitate a funds transfer transaction between the international banking partners' debit card and the IMMCard in the United Sates. Unlike other regions of the world, where banks play a more prominent role in sending money home, migrants from Latin America and the Caribbean countries mostly rely on international money-transfer companies or local neighborhood operators for their remittance transactions. Because the vast majority of these remitters and their families do not use banks, they have not traditionally been included in the formal economy -- the IMMCard process is designed to remedy this imbalance by offering a safe, modern, convenient and economical alternative. Additional information may be found at www.immcard.com.

This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "intends,'' "believes,'' and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, risks associated with the integration of businesses following an acquisition and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

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