Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

April 21, 2011 16:05 ET

Mint Executes Major New Customer Contract

TORONTO, ONTARIO--(Marketwire - April 21, 2011) -

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Mint Technology Corp. (TSX VENTURE:MIT) announced the signing of a major new customer contract with Al Ahalia Money Exchange Bureau ("Al Ahalia") for the outsourcing of their payroll business to Mint Middle East LLC. This signing represents the largest volume contract to be executed by Mint Middle East LLC to date. The scope of the services to be provided under the contract includes: (a) the outsourcing of Al Ahalia's payroll business to Mint Middle East LLC, to be deployed over a 5 month period commencing immediately, representing between 55,000 and 65,000 cards, and (b) the provision of remittance services to Mint's customers through Al Ahalia. Al Ahalia, established in 1996, is one of the leading exchange houses in the Middle East, primarily focusing on money transfers and money exchange.

Mint President and CEO Chris Hogg said today from Dubai UAE, following the signing, "I would like to welcome Al Ahalia as a valued Mint customer and each of their client cardholders who will be delivered with their Mint payroll card over the next 5 months. I would like to particularly thank Mint Director and Middle East CEO Nabil Bader, Mint Managing Director Nancy Ruffing and Mint Sales Director Ali Faizan Rizvin for their hard work in delivering this significant contract."

Once fully deployed, this contract together with other new agreements signed by Mint this quarter will bring to over 275,000 the number of active cards on Mint's platform.

ABOUT MINT TECHNOLOGY CORP

Mint Technology Corp. is a pioneer in prepaid financial products and services and is Canada's first provider of prepaid credit card programs. As a MasterCard® Member Service Provider, Mint works with business partners to customize prepaid credit card programs that are tailored to meet a company and its card holder's needs. Mint has developed a secure, robust payments platform that provides an improved means to handle and manage 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 remittance technologies. Mint's prepaid card products include general spend for the underserved, youth and employee payroll. Stock Symbol: MIT on the TSX Venture Exchange.

ABOUT AL AHALIA

Al Ahalia provides a corporate payroll solution for salary disbursal processes in compliance with the directives of the UAE Ministry of Labor, Electronic Wage Protection System (EWPS) and the Central Bank of UAE and is now servicing more than 4500 companies. Al Ahalia's extensive remittance channels make it easy for its customers to remit funds to the Indian sub-continent, South Asia, the Middle East, Africa, Australia, Europe or the US. Al Ahalia operates liaison offices in India, Sri Lanka and Bangladesh and maintains correspondent relationships with more than 50 banks around the world.

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 number of payroll cards which are expected to become active on Mint's platform and the timeframe within which that will happen. 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 number of cards moved onto Mint's platform could change if there is a change in the number of customers, or average number of employees per customer, who obtain payroll payment services from Al Ahalia. There could be delays in the movement of those customers and cards to Mint's platform if there are delays in the registration of those customers or in the distribution of new cards to those customers. 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.

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.

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