20 Dec 2010 07:00
December 20, 2010
Billing Services Group Limited (the "Company")
U.S. Senate Commerce Committee Investigation
The Company notes the announcement made by the United States Senate Commerce Committee (the "Commerce Committee") late on Friday, December 17 that it is conducting an investigation into "cramming," a deceptive practice that involves placing unauthorized "mystery charges" on telephone bills.
The announcement states that in June 2010, the Chairman of the Commerce Committee, Senator John D. (Jay) Rockefeller IV, sent letters to three telephone companies-AT&T, Qwest, and Verizon-and requested information from them to better understand their awareness of the cramming problem and the steps they have taken to address it. As part of the investigation, Chairman Rockefeller asked for a list of the companies that are allowed to place third-party charges on their customers' telephone bills. Through certain of its operating subsidiaries, Billing Services Group Limited is one such company.
Based on the information contained in the Commerce Committee's announcement this past Friday, it is the Company's understanding that the investigation primarily involves certain businesses that are selling enhanced services.
Further information will be provided as it becomes available.
Inquiries:
Billing Services Group Limited +1 210 949 7000
Greg Carter
Norm Phipps
Evolution Securities Limited
Stuart Andrews +44 (0) 20 7071 4300
BSG Media Relations
Leslie Komet Ausburn +1 210 326 8992
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.
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