Get Smart, Net 1 UEPS Technologies (NUEP) Message Board

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Technology Stocks : Get Smart, Net 1 UEPS Technologies (NUEP)

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To: Ron Struthers who started this subject	8/5/2000 6:17:55 AM
From: Michel Landry	Read Replies (1) of 183

Finally some great news: Thursday August 3, 1:10 pm Eastern Time Press Release Net 1 U.E.P.S. Technologies Inc. Completes Acquisition VANCOUVER, B.C.--(BUSINESS WIRE)--Aug. 3, 2000--Net 1 U.E.P.S. Technologies Inc. (Nasdaq:NUEP - news) is pleased to announce that it has completed the acquisition of the worldwide exclusive sales and marketing rights, except South Africa and surrounding countries, to exploit the Funds Transfer System (``FTS'') patents and its associated technological developments. NUEP has also completed the acquisition of the future profit streams from all existing F.T.S. licenses including that associated with the VISA INTERNATIONAL agreement as described in prior NUEP press releases. Management is no longer seeking to consummate the restructuring described and announced in the NUEP press release dated October 10, 1998 and in the Information statement mailed to shareholders in March 1999. Net 1 U.E.P.S. Technologies Inc. will remain a US-based entity registered in Florida with a worldwide operational network. The management of the company is of the opinion that the existing corporate structure and the increasing acceptance of the FTS/UEPS technology should allow the Company to take full advantage of the huge potential offered by any emerging market in the world with sustainable profitable growth in the coming years. The Company is also pleased to announce that its audited financial statements for the three years ended December 31, 1999 and the first quarter unaudited statements have been completed. On 1 August 2000, management filed with the SEC the necessary documentation to comply with fully reporting status. Upon receipt from the regulatory authorities, the Company will apply for reinstatement to the OTCBB. The Company continues its efforts to bolster the management team to provide NUEP with the broad range of experience and expertise required to successfully exploit the FTS/UEPS technology anywhere in the world including the USA. Management is also intensively involved in negotiations to reinforce and optimize NUEP's international operations. The foregoing contain forward-looking statements, which are subject to contingencies and uncertainties that may or may not occur. Forward-looking statements are not guarantees of future performance and are based on numerous assumptions about future conditions that could prove to be inaccurate. Actual events, transactions and results may differ materially from anticipated events, transactions or results described in such statements. Material uncertainties about the future of NUEP exist. S.C.P. Belamant, Director C. Guerard, Director

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