Earthport Regulatory News (EPO)

7 May 2008 07:00

Earthport PLC07 May 2008 7 May 2008 Earthport plc ("Earthport" or the "Company") Agreement with Australian Financial Services Company Earthport plc, (EPO.L), the global payments utility company, is pleased toannounce that it has signed a contract with a leading Australian financialservices company. The agreement was concluded when Earthport executives,following several months of activity, met in Dubai on 1st May 2008 with those ofthe client where they attended joint meetings with regional financialinstitutions. This financial services company, whose platform is linked to the global ATMinfrastructure, will be integrated to Earthport's UPN utility. As a leading cardissuer, the financial services company uses and operates branded cardprogrammes, mainly Visa(TM)products, and these are enhanced by utilising mobilephone technology and the Internet to provide an online and mobile e-walletpayment system. Upon integration the client has committed to revenues in excess of $1m per annum(500,000 transactions in year 1). The activity associated with these cards isfor payroll, international remittances and expense management. The integrationprocess is already at an advanced stage. Subsequent projects not included in the above stated revenue number, are: • a bank-to-bank transfer loading service for an Asian Bank which has forecasted an additional 400,000 transactions per month (4.8million transactions per annum) for Earthport • an optional loading service for 30 million of the client's cardholders for an Asian bank • a further project from a Middle Eastern Exchange which specializes in remittances Each of the above represents a separate and additional revenue stream. James Bergman, Executive Director, Earthport said: "This is the first of anumber of transformational client wins with financial services companies that weare pursuing aggressively as we drive the next stage of our growth." Mike Harrison, Executive Chairman, Earthport said: "This agreement reinforcesthe direction that Earthport is taking as a provider of its paymentsinfrastructure to international financial institutions." -Ends- Earthport plc +44 (0)20 7220 9700 Mike Harrison, Executive ChairmanJames Bergman, Executive Director Dawnay Day Investment Banking Ltd +44 (0)20 7509 4570Nick Lovering, Corporate FinanceAdam Pollock, Sales Financial Dynamics +44 (0)20 7831 3113Jonathon Brill / Annie Evangeli This information is provided by RNS The company news service from the London Stock Exchange