Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

September 21, 2011 11:06 ET

Mint Core Card Numbers & Payroll Loads Continue to Grow

TORONTO, ONTARIO--(Marketwire - Sept. 21, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Mint Technology Corp. ("Mint or the "Company") (TSX VENTURE:MIT) announces today the Company's subsidiary Mint Middle East LLC has added a further 218 client contracts for the provision of payroll cards and ancillary services to companies in the UAE comprising 7,492 new cardholders for the 3 months to August 2011.

Mint's President & CEO, Nabil Bader, said today, "Our core business continues to enjoy good organic growth from businesses throughout the UAE that are still moving toward compliance with the government requirements of the Wages Protection System law."

Mint processed and loaded over US$260,000,000 to its cardholder base in the 6 months to August 2011. Mr. Bader added, "The new cards now integrated from our recent acquisition and new contract wins will increase the cash loads from October 2011 to a minimum of US$85,000,000 per month and up to $100,000,000 per month by January 2012. This is an important number because it provides Mint with a significant deposit base from which to cross sell our Money Transfer, Mobile Top-Up and POS services each month."

Forward-Looking Statements

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or our future performance. Forward-looking statements include the anticipated cash loads per month in this news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. In addition to other risks, the cash loads per month could differ if the business of Mint's clients deteriorates or fails. Although the forward-looking statements contained in this news release are based upon what management of Mint believes are reasonable assumptions on the date of this news release, Mint cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and Mint disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

ABOUT MINT TECHNOLOGY CORP.

Mint Technology Corp. is a pioneer in prepaid financial products and services and was Canada's first provider of prepaid credit card programs. Today, Mint through its subsidiary Mint Middle East LLC based in Dubai designs, builds and manages an end to end card based payments solution for employers and employees for the payment of wages and benefits. Mint has developed a secure, robust payments platform that provides an improved means to handle and manage these financial transactions. Mint also provides services for those clients looking to move towards 'next generation' payment methods that include chip, internet, data mining and mobile phone load and money remittance technologies.

Stock Symbol: MIT on the TSX Venture Exchange.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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