NETeller Plc Announces Board of Director Changes

Friday, December 16th, 2005

NETELLER Plc, a leading online money transfer service provider, is pleased to announce that Ron Martin was appointed to the Board as a director on 15 December, and will be appointed as Chief Executive Officer with effect from 1 January 2006. Ron, who is currently Chief Operating Officer of the Company, will succeed current CEO Gord Herman who is to become Executive Vice Chairman with effect from the same date.

Ron Martin (42) joined the Company in July 2005 and has extensive management experience in service, outsourcing and high growth software firms. He has held varied executive positions with companies such as The Franchise Corporation, a subsidiary of the FirstService Corporation, Salesnet Inc. and most recently Globoforce Ltd where he was recruited by Benchmark Capital to lead all aspects of Globoforce’s North American operations, with a focus on rapid top line growth and sound product development. Since his appointment as Chief Operating Officer of the Company, Ron has made a considerable contribution to all operational aspects of the business, in particular the implementation of the next generation system.

As Executive Vice Chairman, Gord Herman will continue to have a significant executive role within NETELLER, focusing on the Company’s strategic objectives, and in particular the development of the Company’s banking strategy and extension of the peer-to-peer money transfer business. Ron Martin, with a reporting line to Gord Herman, will continue to focus on the growth and development of the Company’s existing gaming related operations.

In addition, the Company announces that John Lefebvre will be stepping down from the Board as a non-executive director with immediate effect. The Board would like to thank John for his very significant contribution and support in helping to build NETELLER into the successful company it is today and to wish him well for the future.

Steve Lawrence, Chairman, commented “I am delighted that Ron has been appointed to the Board and will succeed Gord as Chief Executive Officer on 1 January 2006. Ron has already demonstrated a thorough understanding of NETELLER’s operations since his appointment as Chief Operating Officer and has helped to position the Company for the next phase of its development. He will have a key role in driving our global expansion and continuing growth.

These Board changes complete the process we commenced in early 2005 to identify a suitable successor to Gord Herman, who has led the Company so successfully over recent years. I am pleased that Gord has decided to continue his active involvement in the Company as Executive Vice Chairman as his experience will be invaluable, particularly as we seek to grow NETELLER’s non-gaming related operations. I look forward to the future for NETELLER with confidence.”

Ron Martin details:

Mr Martin, aged 42, currently holds and has held directorships, during the five years preceding the date of this announcement, other than the Company as follows:

Current:
NX Systems UK Limited – from 30 September 2005
Netbanx Limited – from 28 October 2005
Netinvest Limited – from 28 October 2005

Previous:
None

Enquiries:

Gord Herman
Chief Executive Officer
+44 01624 698 702

Andrew Gilchrist
Vice President - Communications
+44 01293 897 515