Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

May 09, 2011 10:47 ET

Mint Executes Important New Customer Contract with Dubai-Based Construction and Engineering Company, Drake and Scull International PJSC

TORONTO, ONTARIO--(Marketwire - May 9, 2011) -

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

Mint Technology Corp. (TSX VENTURE:MIT) ("Mint") announced the signing of a new customer contract with the leading Engineering group, Drake and Scull International PJSC (D&S) for the management of their payroll card requirements to over 3,500 employees.

D&S dates back to 1881 in the United Kingdom and established its business in Abu Dhabi in 1966. D&S have projects in UAE, Saudi Arabia and Qatar and since the beginning of 2011, D&S have won prestigious projects in Oman, Egypt and Saudi Arabia totaling up to $750m. As at December 2010, D&S had a backlog of a further $1.4Billion in project work in the region. Drake & Scull is well positioned to benefit from a Saudi construction industry that's set to benefit from $82 billion of housing projects announced in February and March 2011 by King Abdullah Bin Abdulaziz.

Mint President and CEO Chris Hogg said today "D&S is a highly respected, integrated Mechanical, Electrical and Plumbing Contractor and this payroll card contract win provides Mint and D&S with a framework to support their businesses throughout the region from our mutual bases in UAE".

Middle East CEO Nabil Bader said, "We look forward to growing with D&S, particularly in complementary geographies in which both companies operate throughout the Gulf".

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, UAE, 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.

ABOUT DRAKE AND SCULL INTERNATIONAL PJSC

Drake & Scull International PJSC (DSI), is a regional market leader delivering world-class integrated engineering through the design and build disciplines of Mechanical, Electrical & Plumbing (MEP), Civil Contracting and Water & Power solutions. They provide engineering procurement and construction services for complex projects, to private and public clients in the Middle East, Asia and the North Africa region They have established regional leadership position over 44 years of successfully completing the most complex projects in the region. D&S are a publically quoted company with a market Capitalization of over $500m.

For additional information please visit www.mintinc.com.

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.

Contact Information