Earthport Regulatory News (EPO)

25 Feb 2005 07:00

Earthport PLC25 February 2005 Stock Exchange Announcement For immediate release 25th February 2005 earthport plc ("earthport" or "the Company") Trading Update earthport confirms it has received additional funding of over £1.879 millionfrom investors since December 2004. The Company expects to receive a further£2m of funding by 31st March 2005. Its revenues for the month of January at £129,108 were the highest ever and20.2% up on December 2004. earthport has today announced that its "batchPay" product is live for merchants.batchPay is a new payment clearing managed service that facilitates theprocessing of multiple payout transactions, which have been presented as asingle batch. Using batchPay merchants can effect payouts in 94 countries at the push of abutton, for transactions of any value at a fixed price per transaction,substantially discounting other methods and making payouts directly intocustomers' bank accounts in a timely fashion. Initial reaction from merchantssuggests that there is a strong demand for this service. Accordingly, the Directors believe the Company is continuing to gain financialstrength and intend to release a fuller trading statement in March 2005 togetherwith the Interim results to December 2004. Press enquiries: Rob Cunningham - CEO earthport plc +44 (0) 20 7907 1100 David Nabarro - Nabarro Wells +44 (0) 20 7710 7400 James Melville-Ross / Juliet Clarke - Financial Dynamics +44 (0) 20 7831 3113 End This information is provided by RNS The company news service from the London Stock Exchange