| Thu 21 Apr 2011, 8:58 | | NT1 - Net1 - Net 1 UEPS Technologies Inc.: South African Social Security Agency |
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NT1
NT1
NT1 - Net1 - Net 1 UEPS Technologies, Inc.: South African Social Security Agency
Issues an Invitation to Bid
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")
Net 1 UEPS Technologies, Inc.: South African Social Security Agency Issues an
Invitation to Bid
JOHANNESBURG, SOUTH AFRICA - April 20, 2011 - Net 1 UEPS Technologies, Inc.
(NASDAQ: UEPS; JSE: NT1) ("Net1") today announced that the South African Social
Security Agency ("SASSA") has publicly issued an Invitation to Bid inviting
service providers to submit proposals for the provision and payment services for
social grants in any one or more of the nine provinces of South Africa by the
27th May 2011. Net1 currently performs such payment service in five of South
Africa`s provinces and will participate in the bid process.
There can be no assurance that the Invitation to Bid process will be completed
as per the announced timetable, or that Net1 will be the successful bidder for
any or all of the provinces to be ultimately awarded by SASSA. Pursuant to the
Invitation to Bid, no information pertaining to the Invitation to Bid should be
disclosed to any third parties without the prior consent of SASSA and therefore,
Net1 expects that it will not be in a position to provide further information
about the Invitation to Bid or the bid process unless and until SASSA makes a
further announcement.
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.
Net1 has a primary listing on the Nasdaq and a secondary listing on the JSE
Limited.
Investor Relations Contact:
Dhruv Chopra
Vice President of Investor Relations
Phone: +1-212-626-6675
Email: dchopra@net1.com
Johannesburg
21 April 2011
Sponsor:
Deutsche Securities (SA) (Proprietary) Limited
Date: 21/04/2011 08:58:01 Produced by the JSE SENS Department.
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