NETELLER Resolves Investigation With US Government - U.S. Customers Will Be Able to Request Their Money by End of Month.

Neteller, the independent global online payments solution provider, announced that it would pay the U.S. Government $136 Million in restitution. Today the Company has entered into a Deferred Prosecution Agreement with the United States Attorney's Office for the Southern District of New York (USAO). This agreement represents the resolution of the USAO's investigation into the Neteller operations.

Pursuant to the Agreement, the Company has consented to the filing of a criminal information relating to transactions between Internet gambling merchants and persons located in the United States. The USAO has agreed to defer the prosecution of any federal charges and, as a consequence, the Company will not be convicted of any federal crime, as long the Company fulfils the set conditions of the agreement during the two year term of the agreement. At the conclusion of the two year term, the criminal information will be dismissed. The key terms of the agreement are set out in more detail later in this announcement. The United States District Court for the Southern District of New York has approved the deferral of the prosecution. As part of the DPA, the Company has also agreed to forfeit US$136 million to the United States. This amount includes the approximately $60 million that the USAO has previously seized.

Additionally Neteller announces:

Following this resolution, the Company will seek to publish its audited annual accounts for 2006 and have its shares restored to trading on AIM as soon as practicable thereafter.

The Company is using its best efforts to allow withdrawal requests as soon as possible and US customers will be able to sign in to their NETELLER account to request the withdrawal of their funds by no later than 30 July 2007. The exact date upon which US customers will be able to make requests will be communicated to US customers via email and through our website.

Ron Martin, Neteller's President & CEO, said "This agreement resolves the USAO's investigation relating to the Company's former US business activities. We believe that this settlement is in the best interests of NETELLER and its shareholders."

"Our customers, employees and shareholders have all patiently waited for this resolution. We anticipate within the next few weeks that we will have fully implemented the plan for the return of funds to our US customers and are hopeful that, by that time, we will have restored the Company's shares to trading on AIM. We can now begin to refocus our efforts on building and strengthening the NETELLER business in the growing markets of the European and Asia Pacific regions. I look forward to sharing further information about the Company's progress over the coming months."

NETELLER will start implementing the plan by which US customers will be able to initiate the return of their funds as soon as possible and, in any event, by no later than 30 July 2007. The company will communicate with its customers via e-mail to let them know the proper procedure for withdrawing funds, and when that process might begin.

Source: Neteller


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