News and Press Releases:


NETELLER Announces Service Changes to Israeli Market

Wednesday, 18 July 2007 - NETELLER Plc (LSE: NLR), the independent global online payments business, today announced certain changes to its services in the Israeli market.

The Group continually assesses the risk profile and status of the markets its serves. Recent legal developments have increased the uncertainty regarding the legality around certain activities related to online gambling in the Israeli market. The Company has therefore concluded that the Group will no longer process transfers related to online gambling sites on behalf of Israeli resident customers.

Key features of service changes

In light of the recent legal developments in Israel, NETELLER has decided to implement a voluntary phased withdrawal of the payment services related to online gambling that it offers customers to the Israeli market.

Cessation of Israeli resident customer transfers related to online gambling merchants:

  • The Group will cease processing transfers to online gambling merchants for Israel-resident customers with effect from 12.01 a.m. GMT on Thursday 19 July 2007.
     
  • The Group will cease processing transfers from online gambling merchants to Israel-resident customers within two weeks, with effect from 11.59 p.m. GMT on Tuesday 31 July 2007.

Non-gambling related services continue:

  • Israel-resident customers will be able to continue to use their NETELLER e-wallet account for any non-gambling related money transfers and withdrawals.
     
  • Local funding options for the NETELLER e-wallet will continue to be available to Israel-resident customers.

Customers located in other parts of the world are not affected by this change, and NETELLER continues to service these customers in the normal manner. The Israeli business of the Group does not represent a material proportion of the Group’s overall customer base, revenue or profitability.

About NEOVIA Financial Plc

Trusted by consumers and businesses in over 170 countries to move and manage billions of dollars each year, NEOVIA Financial Plc is a leading alternative payments business. Through the NEOVIA Payment Network, merchants use the NETBANX® processing service to simplify how they accept and settle card, direct-from-bank, and cash payments, and the NETELLER® payment account to increase margins, capture new customers and increase customer lifetime values. Being independent has allowed the company to support tens-of-thousands of retailers and merchants in many geographies and across multiple industries.

NEOVIA Financial Plc is quoted on the London Stock Exchange’s AIM, with a ticker symbol of NEO. Subsidiary company NETELLER (UK) Ltd is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer.

For more information about NEOVIA Financial visit www.neovia.com or subscribe at www.neovia.com/feeds/.

Media and Investor Contacts

NEOVIA's media relations can be contacted through the Media Relations Contact page. NEOVIA investor relations are managed by Citigate Dewe Rogerson. Contact them through the Investor Relations Contact page.