NETELLER Takes Positive Step Towards Returning US Customers’ Funds

Wednesday, 21 March 2007 – The NETELLER Plc Group (LSE: NLR), the leading global independent online money transfer business, today announced that it has signed agreements with each of the United States Attorney’s Office for the Southern District of New York (“USAO”) and Navigant Consulting, Inc. (“Navigant”).

On 8 February 2007, the Group announced that it was in discussions with the USAO to manage an orderly return of funds to US customers and that it was contemplated that a forensic accounting firm would be engaged, at the Group's expense, to assist in this process and to examine the Group's financial position.

The Group is pleased to announce that on 20 March 2007, it signed agreements with the USAO and Navigant which, among other things, outline terms and a timeline under which NETELLER will work toward the orderly distribution of funds to its US customers. Per the agreements, the Group anticipates that within the next 75 days it will announce a plan by which the funds will be distributed to US customers. Navigant will also provide a report to the USAO on the Group’s current financial condition.

“We continue to be committed to returning funds to our US customers and working with the US Attorney’s Office,” said Ron Martin, Group President and CEO. “Progress, while not always visible to the outside observer, has been steady and these agreements mark a milestone in the process.”

NETELLER is continuing to cooperate with the USAO’s investigation, under the advice of its legal advisers and in accordance with court orders in the Isle of Man.

Further updates with relation to the US situation will be made as soon as there are any material developments. In the meantime, US customers should visit updates.neteller.com for more information, including newly updated FAQs that provide additional clarity, where the Group is able, around certain issues currently being raised in a number of public forums. Additionally US Customers can contact NETELLER Customer Service on the web or by phone at 1-888-258-5859.

US Customer FAQ’s

When will US customers get their money back?
The recent agreements between NETELLER, Navigant Consulting, and the US Attorney’s Office (USAO) represent an important step in the process of an orderly distribution of funds to US customers. These agreements outline the terms and a timeline under which NETELLER will work toward distributing the funds. As a result, the Group anticipates that within the next 75 days it will be able to announce the plan by which the funds will be distributed to US customers.

Who is Navigant and what will they be doing?
In negotiation with the USAO, NETELLER has agreed to engage independent firm Navigant Consulting Inc., to provide financial consulting and forensic accounting services to the Group, including oversight of the process of returning funds to US customers.

How will funds be distributed to US customers?
The actual mechanism for how funds will be distributed to US customers will be determined during the next phase of the process. The USAO and Navigant must approve the distribution plan and we expect to be in a position to announce the distribution plan within the next 75 days.

Why will it take so long for US customers to get their money back?
NETELLER and the USAO intend to ensure an orderly return of funds to US customers and such a process takes time to establish and execute.

Why can’t NETELLER just send US customers cheques, bank wires, or allow them to use their ATM cards?
As discussed in our press release of February 8, 2007, the court-ordered seizure of funds, restrictions placed by third parties and related legal concerns have made it necessary to work to establish an orderly mechanism for the return of US customer funds with the USAO. The agreements reached between NETELLER, the USAO, and Navigant pave the way for that process to be established.

Why isn’t my account certified anymore?
US member accounts have been temporarily de-certified to revoke Peer-to-Peer capabilities. These accounts should be automatically re-certified in the next few weeks, but Peer-to-Peer transfers will no longer be available to US members.

Why has my NETELLER account been closed? Can I do peer-to-peer transfers?
If you recently performed a Peer-to-Peer transfer, your account may have been temporarily closed. Your account should be automatically re-opened within a few weeks, but you will no longer be able to perform Peer-to-Peer transfers.

How do I know if I am a US member?
If your registered address with NETELLER is a US address, you are considered a US member and all of the changes indicated here apply to you.

Why can’t I access my instaCASH funds in my NETELLER account?
NETELLER has made a policy and technical change that has disabled instaCASH for US members.

Will I be able to use instaCASH again?
No decisions have been made regarding the future availability of this product.

Why can’t I use my NETELLER Card anymore?
The NETELLER Card is not available as a withdrawal option at this time.
We are doing our best to restore our withdrawal options but don't know how long this will take. In the meantime all customer funds held by NETELLER are maintained in segregated trust accounts. We will try to communicate any pertinent changes as soon as practicable.

Why can’t I get a NETELLER Card anymore?
We are temporarily not issuing NETELLER Cards in the US. The NETELLER Card is not available as a withdrawal option at this time.