SOURCE: Flint Telecom Group, Inc.

Flint Telecom Group, Inc.

November 11, 2010 09:56 ET

Flint Telecom Creates Mobile Payments Infrastructure

Forging a Path Towards the Use of Mobile Phones for Financial Transactions Around the World

OVERLAND PARK, KS--(Marketwire - November 11, 2010) - Flint Telecom Group, Inc. (OTCBB: FLTT), an International telecoms technology and services organization, today announced the creation of a robust, fully secure and scalable, mobile payment infrastructure that will allow registered users to transfer money and perform other financial transactions from their cell phone. Initially available in the United States, and rolled out in multiple countries thereafter, first generated revenues are expected as early as the first quarter of next year.

With this service, registered users will be able to transfer money to relatives and friends and to pay bills with a simple text message or secure phone call.

Bernie Fried, President and COO of Flint Telecom Group says, "This innovative platform gives superior levels of customer service and convenience for mobile financial services, coupled with the security, scalability and robustness necessary to perform such transactions. Our platforms are certified at the highest level of security and industry conformance. In addition, not only will this innovative new approach to transferring funds bring a new level of convenience for registered users, the fees charged will be less than those charged by leading money transfer companies today."

According to the GSM Association, the Mobile Standards Organization, by 2012, the number of recipients of international mobile payment remittances could reach 1.5 billion and the size of the remittances market could total US $1 trillion.

Vincent Browne, Chairman and CEO of Flint Telecom Group, commented, "Mobile banking on cell phones will extend financial transaction services to millions of people on a global basis in the coming years. This service is made possible by our recent acquisitions that provide a fully integrated mobile payment processing infrastructure, resulting from many years of development and operation. We believe that we can attract in excess of 250,000 new clients within the first twelve months, generating over $2 million in daily transactions from which Flint will receive a processing fee. This will have a direct, positive effect on Flint Telecom Group revenues and margins as it is rolled out through our strategic partners in the U.S. and internationally."

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

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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