Wameja Di Regulatory News (WJA)

ESERVGLOBAL LIMITED 2010 ANNUAL GENERAL MEETING

CHAIRMAN'S AND CEO'S ADDRESSES

25 November 2010

eServGlobal Limited (ASX: ESV & LSE: ESG) today released the addresses by Chairman David Smart and Chief Executive Officer Richard Mathews at eServGlobal's 2010 annual general meeting of shareholders.

Those addresses are attached to this announcement.

ENDS

eServGlobal Limited is listed on the Australian Securities Exchange (ASX: ESV) and the London Stock Exchange AIM market (LSE: ESG). More information can be found at: www.eservglobal.com

Corporate Broking, Chloe Ponsonby

Sydney, 25 November 2010

eServGlobal Limited 2010 Annual General Meeting: Chairman's Address

Ladies and Gentlemen,

The 2010 financial year was largely dominated by the significant activity relating to the sale of the USP business to Oracle Corporation, which was completed in early August 2010. While it was certainly a mammoth task for all involved, the Board believes that the benefit to the company's shareholders was well worth the time, effort and cost involved in the process.

With the sale of the USP products, the business has moved from the Intelligent Network (IN) market, dominated by large multinational telecommunications companies (such as Ericcson, Alcatel-Lucent and Nokia Siemens), to the Mobile Money market for which there presently is no clear market leader.

Turning to the company's remaining businesses, our strategy for the recharge business has not changed. That is, we will continue to provide solutions to telecommunications carriers across the globe, with particular focus on emerging markets in the Middle East, Africa, Asia and Latin America, which are amongst the fastest growing telecoms markets in the world. Our international remittance platform (HomeSend) will remain focused on the world's vast unbanked population.

We all know now that the global recession affected all countries and all markets, with an unprecedented collapse in first credit then new investment activity. Few of our customers escaped the difficulties and together with the anticipated decrease in revenue as a direct consequence of key USP customers deferring traditional end of financial year orders, revenues declined by 47% to AUD$78 million.

As foreshadowed at the 2009 Annual General Meeting, we revised our forecasts down in the first half of the year and initiated cost reduction programs. For the full year, the total annualised cost saving made during the 12 months was AUD$46 million.

The net result of the consolidated entity for the full year was a loss after tax and minority interest of AUD$32 million (2009: loss of AUD$35 million).

Following the Oracle transaction, the 2011 financial year will be a year of transition in which eServGlobal's management and organisational structure will be focused on growing the remaining businesses. The Mobile Money (notably HomeSend) and recharge businesses represent exciting growth opportunities, albeit they are at varying stages of development and revenue generating potential.

The Mobile Money market provides a great opportunity for organisations such as ours to build products and provide services that are new, unique and dare I say it, revolutionary.

The USP operations and customer base made up the bulk of our Asia Pacific business. Following their disposal, we reviewed the makeup of the Board and concluded that a greater representation by European based directors was more appropriate going forward. In July, Ian Buddery resigned as a director and was replaced by Jamie Brooke who represents our largest European shareholder. It is our intention to continue to align the Board representation with our business and customer operations

During the year, 17.5% (34,480,569) of the company's shares have moved from being held by holders on the Australian Securities Exchange (ASX) to being held by holders on the London Stock Exchange (AIM).

While there was no change in the number of issued shares during the FY2010 year (196,847,706), the number of options reduced from 3,258,805 to 902,855 as at the end of October.

At this meeting, shareholders have been asked to consider, and if they think fit, approve a resolution to reduce the capital of the company, which will involve a return of capital to all shareholders. If approved, all shareholders will receive a cash payment of AUD$0.33 per share held on a specified record date in the future. To date we have not received either a class ruling or a private ruling from the ATO supporting the taxation treatment of this capital reduction. As such, if this resolution is approved by shareholders today, it will still be contingent upon the ATO issuing those supportive rulings.

The company would like to announce some personnel changes, to take effect immediately at the end of this meeting. Richard Mathews will stand down as the company's CEO and will become the new non-executive Chairman of the Board. Craig Halliday, presently the company's COO, will step into the CEO role.

These changes have been made for a number of reasons:-

1. Richard's focus has been on M&A activities and on the strategic direction and options for the company going forward. His move to the Chairman's role will allow him to more effectively concentrate on these important areas

2. The operations, employees and customers of the business are largely European, African or Middle Eastern based. Craig is based in Europe and has done a terrific job of running the field operations of the business to date and has demonstrated a strong ability to drive growth, establish and enhance customer relationships and manage all operational aspects of the business. The board has every confidence in his ability to run the business in its entirety.

3. Following the sale of the USP business to Oracle, the Board believes that the reduced size and complexity of the on-going business operations do not warrant both a CEO and COO; albeit the Company will continue to benefit from the continued contribution of the existing team under a more effective organisational structure

I will continue as both a non-executive director of the company and as chairman of the audit committee subject of course to the vote of the meeting on my re-election.

Overall, global economic conditions remain challenging and therefore we will maintain our conservative approach to financial planning. However we continue to have every confidence in our people, our products and our customers.

I will now ask our Chief Executive Officer, Richard Mathews, to address you.

David Smart

Chairman

Sydney, 25 November 2010

eServGlobal Limited 2010 Annual General Meeting: CEO's Address

What a difference a year makes. This time last year, we announced a $35 million loss, had little backlog and an unsatisfactory sales pipeline.

Before the announcement of a change in management mid last year, the stock was trading in the early 30's which was just above its net asset value. The market cap of the business was AUD$54 million.

At this meeting, we are recommending a AUD$65 million return of capital (AUD$0.33 cents per share), we still have AUD$24 million in escrow and the stock price has doubled. Currently the company has a market cap of approximately AUD$127 million.

Of course, the key reason that we are in a position to return capital to our shareholders is due to the sale of our USP business to Oracle for AUD$107 million.

We are sure that Oracle, with their global sales and marketing expertise and reach, will take the USP platform to another level. This view was of course reflected in the price they were prepared to pay for the asset. We are of course continuing to work closely with them as we transition customers and contracts. We will also continue to partner with them for many years to come given we have many joint customers.

Following the USP sale, our business is now smaller than it was. Between February 2009 and July 2009 we reduced our contractor and employee headcount by 193 (27%). Oracle took over another 194 employees (28%) hence we have approximately 45% of the total number of staff we had before the Global Financial Crisis. We have already and will continue to move development and support functions from high cost economies to lower cost economies. There is still some headcount alignment required between our revenue streams and cost structures which we will address during this financial year.

Along with many other Australian businesses, we have felt the effects of the stronger Australian dollar, recording a AUD$5.8 million foreign exchange loss for the year. While there appears to be no reason why the Australian dollar will depreciate in the foreseeable future, our remaining revenue and costs are mainly in Euros which provides a natural foreign exchange hedge.

The 2010 financial year saw the first three new products go live, all of which have been retained in the current business.

(1) FlexiContent - this service was used by Orange affiliates throughout Africa for both the African Cup of Nations and the World Cup football tournament

(2) PromoMax - this year our first PromoMax customer went live on their own machines. We also provided PromoMax in a "Software as a Service" format to one of our current customers. Both implementations were in Africa.

(3) HomeSend - we went live during the year with a number of Mobile Network Operators

We are excited by these new products and by the future of the business. In the software business the first customer is always the most expensive to acquire so we are looking forward to expanding the customer base for these products during the upcoming year.

Following the close of the Oracle transaction, our first priority has been to educate the market on the breadth and depth of our Mobile Money offering. We have been supplying Mobile Money functionality to our customers for over 12 years. Our customers have already been using our products and services to provide Mobile Money offering to their subscribers and we now need to take these offerings and build them back into our standard product.

In this market, there are two distinctly different markets (banked subscribers and unbanked subscribers) which have different characteristics and requirements. Currently we are very well positioned in the unbanked segment with our HomeSend solution and our relationship with Belgacom International Carrier Services (BICS).

Now that HomeSend is fully operational, we will work with BICS to add more operators to the network. We have also begun discussions with Mobile Transfer Organisations and banks to enable a complete end to end solution.

There has been heavy investment in the Mobile Money space during the last five years. Just last week, the Bill and Melinda Gates Foundation pledged US$500 million to help the world's poorest people to save using systems like branchless banking and mobile phones.

The analysts' view is that it is a race to become the market leader and while it is impossible to predict the future, we are positioned extremely well to be part of the solution. We expect to continue to be at the forefront of the Mobile Money revolution and look forward to both the challenges and potential rewards that come with rapidly evolving technologies.

Our goal remains to achieve consistent, profitable growth through supporting our customers and achieving new sales.

I would like to thank our staff, those who went across to Oracle and of course our remaining staff for their commitment and teamwork which enabled us to achieve what we have over the last year and whose hard work will allow us to succeed in the future.

I again thank our shareholders for their support and I look forward to our continuing success.

Richard Mathews

Chief Executive Officer