NEWS "NETeller Customer Relations"

Dear,

We would like to update you on forthcoming changes to our Corporate structure and what this means to you.  This communication is for information purposes only, and at present no action is necessary on your part - you can continue to use your NETeller account as you do today.

  Z& Y! q. }  m) ?8 U: V' `As part of our global expansion and drive to constantly improve our products and services, we have established NETeller UK Ltd as the service provided for our European members.  On 20th October 2004, NETeller UK Ltd became authorised to operate as an Electronic Money Issuer by the Financial Services Authority (FSA) of the United Kingdom.  As a regulated Electronic Money Issuer greater protection is offered to member』s funds.  To obtain the authorisation, NETeller UK Ltd has had to demonstrate that it has in place sufficient assets and stringent systems and controls in key areas such as capitalisation, business, management, and operations. In addition we will be subject to regulatory supervision to ensure that these systems and controls continue to operate effectively and for the benefit of our members.

' Y2 C6 k: {! Q: c0 k6 ^( \( ZImmediately following this authorisation in UK, NETeller UK Ltd began the process of notifying regulators in all of the other EU member countries of our intention to offer e-money services in their regulatory jurisdictions.  This will include your country.

We are very proud of this achievement, as it validates our key business objective to provide a secure and reliable online e-wallet and money transfer service to our customers.   Furthermore, NETeller UK Ltd is currently one of a very few companies authorised by the FSA to issue electronic money in Europe.  

Future changes to your customer relationship
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In the future NETeller UK Ltd will be responsible for managing the customer relationship with European members. This means that a new Terms of Use and Privacy Policy will be issued to European members in the near future. These will be modified to comply with relevant European financial services and consumer protection regulations.

We will keep you informed of further developments in the coming weeks.  We hope that you will continue using the existing NETeller service and in due course will take advantage of the improved services that will be made available to you.  Until then, thank you for choosing to use NETeller.
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8 v& C/ h: b* f  E2 s) J2 gIf you have any queries about this communication, please contact NETeller customer service.


Yours sincerely,
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% u1 m' u( T. d/ E# f' O9 a0 GCustomer Relations Team                                                                                              NETELLER UK LTD