SOURCE: Flint Telecom Group, Inc.

Flint Telecom Group, Inc.

June 23, 2011 08:26 ET

Flint Telecom Subsidiary Signs Strategic Agreement With Transaction Management LLC "EmpaSys™"

Provides Flint With Access to 1,100 Merchant Sites for Prepaid Card Loading and Additional Products and Services to Market

OVERLAND PARK, KS--(Marketwire - Jun 23, 2011) - Flint Telecom Group, Inc. (www.flinttelecomgroup.com) (OTCBB: FLTT), an international telecom technology and financial services organization, today announces that its wholly owned subsidiary, Ingedigit International Inc., has completed a Master Agent License, Marketing and Distribution Agreement with Transaction Management LLC (TMLLC) for EmpaSys™ (www.EmpaSys.com) services. The EmpaSys™ electronic payment solution is a web-based platform that enables approved merchants to allow their customers to pay certain bills electronically, purchase prepaid airtime, load a variety of pre-paid debit cards or transfer money internationally.

The Agreement provides additional locations for Flint prepaid cardholders and money transfer clients to reload their accounts at any of the existing 1,100 EmpaSys point-of-sale locations throughout the United States. It will also allow them to transfer funds to countries not yet covered by Flint's own money transfer programs. The Agreement also allows Flint to market and sell the full range of EmpaSys™ products and services to its retailers providing them with additional revenue streams and value added services for their customers.

Flint will add new merchants to the EmpaSys™ network and therefore broaden the available locations for its prepaid cardholders in conjunction with previously announced international banking and program partners. These merchants will further enhance the convenience and use of prepaid debit cards and money transfer activities under the co-sponsored programs by providing convenient load and bill pay locations in their communities. Cardholders will not only be able to load their Flint cards more easily but now also pay bills at these conveniently located merchants with each transaction generating fees for all parties.

Gaye Scudder, President of TMLLC, stated, "It is rare when an opportunity like this comes along that is equally good for both parties. We get a new significant partner for the sale of our products and services and through their distribution network a party that will expand the EmpaSys™ network itself. Flint gains an existing merchant network that their customers can use with ready and proven additional services to sell to their customers also. We believe that many of Flint's future customers are ones that also desire convenient access to bill pay options in addition to debit card loading and money transfer. We are also working to add Flint Mobile to the current airtime options we offer on EmpaSys™ that will give Flint Mobile customers more locations to purchase their airtime across the country."

Vincent Browne, Chairman and CEO of Flint Telecom Group, added, "The synergy of the relationship with TMLLC and EmpaSys™ products and services is an opportunity for both companies to expand network locations, services and customers and to grow respective revenues and profits moving forward. We believe that EmpaSys™ brings a fully complementary service to what we do today and plan to do in the future. This allows our clients and customers to access a wider selection of merchant locations to load and reload their prepaid cards. It further underpins our mobile money transfer and prepaid card programs in partnership with leading banking and marketing partners around the world. The global prepaid card market is experiencing huge growth and we are positioning to take our share of it over the next few years."

Mr. Browne added, "As we rollout our prepaid cards and money transfer services with our co-sponsors we will earn a fee on every customer transaction on our partner cards and now on EmpaSys™ products also. Our previously announced partner launches have been negatively impacted by the longer than anticipated completion of our Registration Statement on Form S-1 with the U.S. Securities & Exchange Commission, as our partners wanted to ensure they had a strong partner prior to launching such a strategic offering to their customers. With access to the $15 million Kodiak equity line now in place, we expect that the renewed activity with our partners in the U.S., India and Vietnam coupled with this new channel, will have a direct effect on group revenues and margins as they are rolled out through in the second half of this year. This will help towards our previously announced targets of processing over $2 million in daily transactions by the end of calendar 2011, from which Flint will receive approximately 1% in fees."

About Flint Telecom Group, Inc.

Flint Telecom Group Inc. is an international Telecoms Technology Organization with a portfolio of companies that deliver VoIP and wireless communications and prepaid financial products and services globally. Headquartered in Overland Park, Kansas with offices throughout the US, India and Ireland, Flint Telecom Group is a fully reporting company trading on the OTC Bulletin Board® (OTCBB) under the ticker symbol: FLTT.OB. Flint Telecom ranked number 72 in the 2010 Deloitte Technology Fast 500™, Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Flint Telecom was founded by a team of telecom and technology experts with a proven track in building and maintaining international technology companies. Additional information may be found at www.flinttelecomgroup.com.

About EmpaSys™

The EmpaSys™ Electronic Payment solution is a web-based tool that enables a merchant to act as an EmpaSys™ payment agent allowing their customers to pay their bills, purchase prepaid airtime, load a variety of pre-paid debit cards, or transfer money internationally. Being Internet based, the EmpaSys™ solution is an easy to use, menu driven application that can be accessed anywhere an Internet connection is available. You will be able to have payments sent to thousands of participating billers or providers nationwide and transfer money internationally to your family, friends, and loved ones. You can also monitor your payment history via this site. Founded at the end of 2003, EmpaSys™ has expanded to over 1,100 merchant locations and to over 18,000 In-Network Billers. EmpaSys™ services are available to potential merchant agents throughout the United States. EmpaSys™ greatly increases merchant agent revenues, generates more walk-in traffic, attracts new business, and provides a valued customer service. All EmpaSys™ services are provided on a prepaid basis and the fee for each service is collected at the time the service is provided. Additional information may be found at: www.transactionmgmt.com and www.empasys.com.

This press release contains forward-looking statements. 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, and other factors described in the Company's filings with the SEC. 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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