NETELLER CHEQUE HASSLES FOR SOME U.S. PLAYERS

17 August 2007

One bank claims it has so far turned down $50 000 in cheques from e-processor

For at least some U.S. players waiting for their frozen Neteller balances to be paid the arrival of the cheques from the Isle of Man-based e-wallet was just the start of further stress and anxiety.

Reports are appearing on Internet gambling message boards of banks refusing to recognise some cheques, and one bank is quoted as revealing that it had so far turned down over $50 000 in payments to US players.

The e-wallet recently began paying out over $94 million in US player accounts, frozen in January this year by the Department of Justice investigation which followed the arrest ot two Neteller founders and the company's exit from the US market.

Approached for comment, spokesman Andrew Gilchrist, who is VP Corporate Development & Communications for Neteller said:

"We have been investigating the issues which you raised.

"We typically mail a large number of cheques to our customers across various countries and occasionally there are presentment issues. We would therefore regard the incidences referred to as not unusual given the volume of cheques we have been mailing as part of the US distribution plan.

"You may be interested in the following statistics in relation to our US distribution plan: to date, of the $94 million due, $68.5 million has been requested (73%), of which $60.5 million has successfully cleared, and $8 million is pending/ on-route / in mail.

We would also suggest that if our customers have similar issues presenting cheques in the future that they request the bank or institution to contact Neteller directly to confirm the validity of the cheque by telephoning our support team on 877 288 4545.

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