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NT1
NT1
NT1 - Net 1 UEPS Technologies, Inc. - Net1 expects negotiation of SASSA SLA
to be concluded by February 6, 2012
Net 1 UEPS Technologies, Inc.
Registered in the state of Florida, USA
(IRS Employer Identification No. 98-0171860)
Nasdaq share code: UEPS
JSE share code: NT1
ISIN: US64107N2062
("Net1" or "the Company")
Net1 expects negotiation of SASSA SLA to be concluded by February 6, 2012
Johannesburg, South Africa, January 27, 2012 - Net 1 UEPS Technologies, Inc.
("Net1") (NASDAQ: UEPS, JSE: NT1) today announced that its wholly owned
subsidiary, Cash Paymaster Services ("CPS") has commenced negotiation of the
service level agreement with the South African Social Security Agency in
terms of the award of the national payment tender as announced on January
17, 2012. The parties have agreed to extend the final signature date of the
SLA by one week from January 31, 2012 to February 6, 2012.
About Net1 (www.net1.com)
Net1 is a leading provider of alternative payment systems that leverage its
Universal Electronic Payment System, or UEPS, to facilitate biometrically
secure real-time electronic transaction processing to unbanked and under-
banked populations of developing economies around the world in an online or
offline environment. In addition to payments, UEPS can be used for banking,
healthcare management, payroll, remittances, voting and identification.
Net1 operates market-leading payment processors in South Africa, Republic of
Korea, Ghana and Iraq. In addition, Net1`s proprietary Mobile Virtual Card
technology offers secure mobile payments and banking services in developed
and emerging countries while its MediKredit and XeoHealth subsidiaries
provide its proprietary 5010 and ICD-10 compliant real-time claims
adjudication system.
Net1 has a primary listing on the Nasdaq and a secondary listing on the JSE
Limited.
Forward-Looking Statements
This announcement contains forward-looking statements that involve known and
unknown risks and uncertainties, including the risk of our being able to
successfully conclude a service level agreement in a timely manner. A
discussion of various factors that cause our actual results, levels of
activity, performance or achievements to differ materially from those
expressed in such forward-looking statements are included in our filings
with the Securities and Exchange Commission. We undertake no obligation to
revise any of these statements to reflect future events.
Investor Relations Contact:
Dhruv Chopra
Vice President of Investor Relations
Phone: +1-212-626-6675
Email: dchopra@net1.com
Johannesburg
27 January 2012
Sponsor to Net1
Deutsche Securities (SA) (Proprietary) Limited
Date: 27/01/2012 16:00:01 Produced by the JSE SENS Department.
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