Tangarine Payment Solutions Corp.
TSX VENTURE : TAN

June 18, 2008 12:21 ET

Tangarine Payments Solutions Corp. Announces Non-Binding Unsolicited Expression of Interest by Third Party

ST. CATHARINES, ONTARIO--(Marketwire - June 18, 2008) - Tangarine Payment Solutions Corp. (TSX VENTURE:TAN), announced today that it has received a non-binding unsolicited expression of interest from and has entered into discussions with, a third party to acquire all of the issued and outstanding common shares of the company at a price of $0.25 per share. The board of directors of the company is evaluating the proposal and its several conditions. There can be no assurance that any definitive agreement will result from the proposal or that any transaction will be completed.

About Tangarine Payments Solutions Corp.

Tangarine markets consumer-initiated electronic financial payment solutions to small and medium sized retail businesses, such as convenience stores, small specialty stores, bars, restaurants and gas stations. Tangarine currently manages over 7,800 POS terminals across Canada divided between wired (76%) and wireless (24%) terminals. The majority of the wireless terminals are marketed under the brand name "fleetX" and are located primarily in taxis operating in Ontario and Quebec.

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

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