Euronet's ATX Subsidiary Announces Exclusive Agreement for Electronic Distribution of Saudi Telecom Prepaid Products

Business Wire, Oct 22, 2007

LEAWOOD, Kan. -- Euronet Worldwide's (NASDAQ: EEFT) ATX subsidiary, a leading provider of electronic prepaid voucher solutions in over 60 countries worldwide, today announced an exclusive electronic top-up agreement with all of the distributors of Saudi Telecom's prepaid products. Saudi Telecom Company (STC) is the largest mobile operator in Saudi Arabia, with approximately 15.5 million subscribers as of June 2007 and 70 percent market share in the country.

Under the exclusive agreement, ATX will enable the distributors of STC's prepaid telecom products to convert their existing scratch card distribution process to electronic. ATX is facilitating STC's distributor network to convert over 10,000 merchants from selling scratch cards to electronic distribution of STC's prepaid products across Saudi Arabia and anticipates electronic processing to commence in early 2008.

"We are very pleased to sign an exclusive agreement with all of the distributors of Saudi Telecom, the largest telecom operator in the Middle East, to distribute their prepaid offerings electronically in Saudi Arabia," said Michael J. Brown, chairman and chief executive officer, Euronet Worldwide Inc. "According to company estimates, currently, approximately 45 million STC prepaid scratch cards are sold per month in Saudi Arabia making it a very attractive market for a world class prepaid processor such as Euronet. The distributors of STC can now offer our convenient electronic prepaid solution to their retailers and realize significant cost savings."

Saudi Arabia is one of the fastest-growing mobile markets in the Middle East with approximately 21.5 million subscribers at the end of the first quarter 2007. According to figures from the Communications and Information Technology Commission of Saudi Arabia, the penetration of mobile services in the country reached 89 percent of the population for the same period. Over the last five years, the market has undergone rapid mobile expansion with a compounded annual growth rate of 51 percent.

About Euronet Worldwide

Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, mobile operators and retailers which include comprehensive ATM and POS operation and management services; credit and debit card outsourcing services; card issuing and merchant acquiring services; software solutions; consumer money transfer and bill payment services; and electronic distribution of top-up services for prepaid mobile airtime and other prepaid products. Euronet operates and processes transactions from 39 countries.

Euronet's global payment network is extensive - including over 9,800 ATMs and approximately 45,000 POS terminals which are under management in 15 countries; a growing portfolio of outsourced debit and credit card services and card software solutions; a prepaid processing network of 358,000 point-of-sale terminals across 183,000 retailer locations in 12 countries; and a consumer-to-consumer money transfer network of around 10,000 sending locations in 13 countries and 42,000 payout locations in 88 countries. With corporate headquarters in Leawood, Kansas, USA, and 35 worldwide offices, Euronet serves clients in approximately 130 countries. For more information, please visit the Company's web site at www.euronetworldwide.com.

About Saudi Telecom Company

Saudi Telecom Company (STC) is a Saudi-based telecommunications company that offers landline, mobile and Internet services. STC operates through five business units: Al Hatif, which includes landline services, card phones, public telephones, prepaid card services and business services; Al Jawal, which offers a range of mobile services, including Family Al Jawal, Sawa, messaging services, business services, data services and roaming services; Saudi Net, an Internet provider; STC Online for electronic bills payment services; and Saudi Data, a provider of data solutions. For more information, please visit www.stc.com.sa.