UEPS Net 1 Ueps Technologies Inc

Net 1 UEPS Technologies Inc. (NASDAQ: UEPS)(JSE: NT1) ("Net1" or the "Company") today announced it will release its second quarter 2010 results after the market close on February 9, 2010. Net1 management will host a conference call to review these results on February 10, 2010 at 8:00 a.m. Eastern Time.

To participate in the call, dial 1-800-860-2442 (U.S. only), 1-866-605-3852 (Canada only), 0-800-917-7042 (U.K. only) or 0-800-200-648 (South Africa only) ten minutes prior to the start of the call. Callers should request "Net1 call" upon dial-in. The call will also be webcast on the Net1 homepage, www.net1.com. Please click on the webcast link at least ten minutes prior to the call. A webcast of the call will be available for replay on the Net1 website through March 2, 2010.

About Net1 (www.net1.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. The Company 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 using UEPS. The system uses 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 the Net1 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, UEPS can be used for banking, health care management, international money transfers, voting and identification.

The Company also focuses on the development and provision of secure transaction technology, solutions and services. The Company's core competencies around secure online transaction processing, cryptography and integrated circuit card (chip/smart card) technologies are principally applied to electronic commerce transactions in the telecommunications, banking, retail, petroleum and utilities market sectors. Additionally, through BGS Smartcard Systems AG, a majority-owned subsidiary based in Austria, the Company develops, implements and integrates smart card-based offline and online financial transaction systems in cooperation with banks, enterprises and government authorities, primarily in Russia and the Commonwealth of Independent States.

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

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