UEPS Net 1 Ueps Technologies Inc

JOHANNESBURG, South Africa, May 17 /PRNewswire/ -- Net 1 UEPS Technologies, Inc. (NASDAQ:UEPS) announced today that it will participate in the 34th Annual JP Morgan Technology Conference on Wednesday, May 24, 2006, in San Francisco, California. Mr. David Schwarzbach, Vice President of Business Development for Net1, will give a presentation on Net1 followed by a question and answer session at 2:20 p.m. Eastern Time. A live broadcast will be available through Net1's website at http://www.net1ueps.com/ or at http://equityconferences.jpmorgan.com/ and will be available for replay following the conference for a period of 90 days. About Net1 (http://www.net1ueps.com/) Net1 provides its universal electronic payment system, or UEPS, as an alternative payment system for the unbanked and under-banked populations of developing economies. Net1 believes that it is the first company worldwide to implement a system that can enable the estimated four billion people who generally have limited or no access to a bank account to enter affordably into electronic transactions with each other, government agencies, employers, merchants and other financial service providers. To accomplish this, Net1 has developed and deployed the UEPS. This system uses secure smart cards that operate in real-time but offline, unlike traditional payment systems offered by major banking institutions that require immediate access through a communications network to a centralized computer. This offline capability means that users of Net1's system can enter into transactions at any time with other card holders in even the most remote areas so long as a portable offline smart card reader is available. In addition to payments and purchases, Net1's system can be used for banking, health care management, international money transfers, voting and identification. DATASOURCE: Net 1 UEPS Technologies, Inc. CONTACT: William Espley, Investor Relations of Net 1 UEPS Technologies, Inc., +1-604-484-8750, or Toll Free: +1-866-412-NET1 (6381) Web site: http://www.net1ueps.com/ http://equityconferences.jpmorgan.com/

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