Net1 Provides Further Update on Sassa Tender Process.

Canadian Corporate News, January, 2008

JOHANNESBURG, SOUTH AFRICA, Jan 31, 2008 (Marketwire via COMTEX) -- Net 1 UEPS Technologies, Inc. ("Net1" or the "Company") (NASDAQ:UEPS) today announced that it has received a Notice to Bidders from the South African Social Security Agency ("SASSA") advising bidders that, due to unforeseen circumstances, the process of evaluating bidders' proposals and finalizing the adjudication of the SASSA tender has not been completed.

Under the Request for Proposal the bidder's proposals expire on February 9, 2008, and SASSA has requested bidders to confirm in writing, by 16:00 on February 1, 2008, that the bidders' proposals will remain valid in all respects and that the bidders are prepared to extend the validity period of their bid proposals to March 31, 2008. Net1...