BILL.L Regulatory News (BILL)

For Immediate Release

Billing Services Group Limited ('BSG' or the 'Company')

Cancellation of General Meeting and Board Changes

May 10, 2011 - BSG (AIM: BILL), a leading provider of clearing, settlement, payment and financial risk management solutions to the telecommunications industry, merchants and online stores, today announces that the General Meeting of the Company due to be held at the offices of Reed Smith LLP at The Broadgate Tower, 20 Primrose Street, London EC2A 2RS, United Kingdom on the 16th of May 2011 at 10.00 a.m. local time has been cancelled. Notification of this cancellation has been sent to all shareholders.

BSG also announces the appointment of both Denham Hervey Newall Eke and Rayan Ramesh Joshi as non-executive directors of the Company effective May 10, 2011.

Mr. Eke, 59 years of age, is the managing director of Burnbrae Group Limited, a private investment company. Mr Eke started his career in stockbroking and insurance with Sheppards & Chase and then Hogg Robinson plc. Over the last 15 years he has held directorships of a large number of companies, principally involved in equity investments, property ownership and management, and hotel operations, where he has been tasked with rationalising and restructuring operations to enhance profitability. Mr. Eke is Chairman of Webis plc; CEO of Speymill plc; CFO of Emerging Metals plc and Copper Development Corporation; and a director of ARBB AG and Rivington Street Holdings plc. He is CEO of Manx Financial Group plc, which together with Mr. Jim Mellon are interested in 66,395,600 common shares in BSG, representing 23.7%. 

Mr. Joshi, 34 years of age, is an analyst at Hawkeye Capital Management, LLC. He was previously senior vice president at a multi-billion dollar investment firm headquartered in Greenwich, Connecticut and an associate at the law firms Gibson, Dunn & Crutcher LLP and Cravath, Swaine & Moore LLP. He is a member of the New York State Bar and the California State Bar. Hawkeye Capital Management, LLC is interested in 51,963,471 common shares in BSG, representing 18.5%.

Mr. Eke holds the following directorships and has held the following directorships within the last five years:

Past

TransSend Holdings Ltd

Estavis AG

Current

Mr. Eke was a director of Roldec Systems plc from 1994 to 1999. Roldec Systems plc was wound up by way of a creditors' voluntary liquidation in March 1999.

Mr. Joshi has held the following directorships within the last five years:

Past

Exploration II Inc.

Military Parts Exchange LLC

No further information regarding the appointments of Mr. Eke and Mr. Joshi to the Board is required to be disclosed under Schedule 2, paragraph (g) of the AIM Rules for Companies.

Inquiries:

Billing Services Group Limited +1 210 949 7000

Greg Carter

Norm Phipps

Evolution Securities Limited +44 (0) 20 7071 4300

Stuart Andrews

Media Relations +1 210 326 8992

Leslie Komet Ausburn

About BSG

Billing Services Group Limited is headquartered in San Antonio, Texas, USA and traded on the London Stock Exchange (AIM: BILL). For over 20 years, BSG has been a leading provider of clearing, settlement, payment and financial risk management solutions for the telecommunications industry, merchants and online stores. For more information on BSG, visit www.bsgclearing.com.