Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

April 07, 2009 09:28 ET

Mint Technology Signs Contract With Habtoor Leighton Group in the U.A.E

TORONTO, ONTARIO--(Marketwire - April 7, 2009) -

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) today announced the Company has entered into an agreement with the Al Habtoor Leighton Group to manage and distribute prepaid payroll cards to Al Habtoor's 35,000 workers across their group of companies. Mint will implement a test with selected workers in May 2009, which upon successful completion will lead to a further roll-out to the remaining workers on a per division basis. Each division comprises 3,000-5,000 workers.

Some of Al Habtoor's notable projects include the construction of the iconic Burj Al Arab - the world's tallest hotel, Dubai International Airport, and the Jumeirah Beach Hotel in Dubai. Al Habtoor is currently building such landmark projects as Dubai Pearl in Dubai and the Paris Sorbonne University in Abu Dhabi. Al Habtoor Leighton Group is the UAE's largest construction group, with work in hand across the Gulf exceeding AED 25 billion.

The Mint payroll cards will provide instant payday access to Al Habtoor's employees and will include state of the art edge mobile phone based money remittance tools, ATM access and a host of loyalty benefits attached to the payroll card including reduced mobile top-up rates from du Mobile will also be available.

Mr. Brad Kruse, who oversees commercial activities for Mint in the region commented, "Al Habtoor is a significant employer of foreign labour in the U.A.E and their confidence in awarding this contract to Mint and our local representatives is further evidence of the growth potential for Mint's innovative payroll delivery solution being rolled out in the region".

Mr. Joe Dujmovic, Chief Operating Officer of Habtoor Leighton Group commented that "We reviewed a series of payroll card proposals and decided that Mint provided a complete end to end solution which delivers benefits to both our internal processes as well as the workforce who will be able to transact and remit monies internationally in a more timely and cost effective manner than today"

Mr. Chris Hogg, President and CEO of Mint commented, "The pipeline of new opportunities which we have developed starting in the first half 2009 includes mainly construction industry clients. Mint has the capability to roll-out approximately 750 cards a day, including the necessary training (in 9 languages) for using the cards and its remittance functions, ATM delivery and set-up to the various divisions and physical delivery of the card. This newly awarded contract suggests Mint is on track of meeting its objective of having 100,000 active prepaid payroll cards in the U.A.E market by the end of 2009."


ABOUT THE AL HABTOOR LEIGHTON GROUP

The Al Habtoor Leighton Group is one of the leading multi-disciplined construction groups in the Middle East and North Africa (MENA) region. It combines the strengths, experience, and expertise of two world-class construction companies - Al Habtoor and Leighton - and aims to become one of the top 50 contractors in the world.

The Group functions through its two core operating companies: Al Habtoor Engineering and Gulf Leighton; and through a diverse range of complementary, Associated Businesses, which enables it to offer clients a complete, one-stop solution to all their construction, development and management needs.

The Group employs around 40,000 people, making it one of the largest construction groups in the region. Based in Dubai, and with a presence in Abu Dhabi, Qatar, Kuwait and Saudi Arabia, Al Habtoor Leighton aims to expand further across the Middle-East and North Africa region.

The Al Habtoor Leighton Group was formed in 2007, following the merger of the UAE's premier building contractor, Al Habtoor Engineering Enterprises, with Gulf Leighton; Leighton International's operating company in the Gulf region. Leighton International is a subsidiary of Leighton Holdings, Australia's largest project development and contracting group.

For further information on Al Habtoor Leighton Group please visit: www.alhabtoorleighton.com

ABOUT MINT TECHNOLOGY CORP.

Mint Technology Corp. ("Mint") 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, TSX-V.

To receive Company news via email, contact lindsay@chfir.com and mention "Mint news" on the subject line.

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