UEPS Net 1 Ueps Technologies Inc

Net 1 UEPS Technologies, Inc. (NASDAQ: UEPS)(JSE: NT1) ("Net1" or the "Company") today announced that the South African Social Security Agency ("SASSA") has advised bidders that the bid submission deadline for its Payments Services for Social Grants tender has been revised to June 27th, 2011. Net1 will continue to abide by the bid submission guidelines provided by SASSA, while concurrently continuing to provide SASSA with its high quality service.

About Net1 (www.net1.com)

Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System, or UEPS, to facilitate biometrically secure real-time electronic transaction processing to unbanked and under-banked populations of developing economies around the world in an online or offline environment. In addition to payments, UEPS can be used for banking, healthcare management, payroll, remittances, voting and identification.

Net1 operates market-leading payment processors in South Africa, Republic of Korea, Ghana and Iraq. In addition, Net1's proprietary Mobile Virtual Card technology offers secure mobile payments and banking services in developed and emerging countries.

Net1 has a primary listing on the Nasdaq and a secondary listing on the JSE Limited.

Contacts: Investor Relations Contact: Net 1 UEPS Technologies, Inc. Dhruv Chopra Vice President of Investor Relations +1-212-626-6675 dchopra@net1.com