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Press Release
Distribution Plan Implemented Today
Monday, 30 July 2007 NETELLER Plc (LSE: NLR), the independent global online payments business, today announced that US customers now have access to their accounts online to request the withdrawal of funds.
As described in the Company's announcement of 4 June 2007, under the Distribution Plan agreed to with the United States Attorney's Office for the Southern District of New York, US customers will be able to commence the process to achieve a return of their funds currently within their NETELLER e-wallets.
US customers will be able to access their NETELLER accounts online until 26 January 2008 and make a request for their funds. In accordance with NETELLERs Terms of Use, no interest on account balances will be paid. NETELLER will not charge fees to customers to process requests for funds. Funds will be distributed either by electronic transfer to the bank account on record with NETELLER or by a cheque to be sent to a mailing address as confirmed by the customer. If a US customer has a bank account already registered with NETELLER, funds transfer will be by electronic transfer subject to confirmation by the customer that the registered bank account remains valid. US customers will receive the entire balance of funds in their account; no requests for partial payments will be processed. US customers cannot use their accounts for any transaction other than to request the funds.
Further information is available on the Companys customer website, www.neteller.com, in particular the US customer update FAQs which are posted at updates.neteller.com.
"We are very pleased to start the funds distribution process today. I can assure our US customers it has been our highest priority and we'd like to thank them for their patience during this period", said Ron Martin, President and CEO. "The implementation of this plan marks another major step forward in the Company's recovery strategy".
About the NETELLER Group
Trusted by millions of consumers in over 160 countries to move and manage billions of dollars each year, the NETELLER Group operates the world's leading independent online payment business. The Group specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed the Group to support thousands of retailers and merchants in many geographies and across multiple industries.
NETELLER Plc is quoted on the London Stock Exchanges AIM market, with a ticker symbol of NLR. NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about the Group visit www.netellergroup.com.
Media and Investor Contacts
NETELLER Group media and investor relations are managed by Citigate Dewe Rogerson. Contact them through the Media Relations Contact page.
