Global Payment Technologies, Inc. Announces New Board of Directors

Business Wire, March 7, 2008

BOHEMIA, N.Y. -- Global Payment Technologies, Inc. (BULLETIN BOARD SYMBOL:GPTX.OB)(GPT) announced that it had filed Schedule 14(f) with the Securities and Exchange Commission identifying its new board of directors. As previously announced, Richard Gerzof stepped down as Chairman of the Board, but remains as a director of the Company. Andre Soussa was named Chairman of the Board and Chief Executive Officer. The remaining members of GPT's board resigned effective February 5, 2008. They will be replaced by David Crompton, Steven Hugh Crisp and Robert W. Nader on March 10, 2008, 10 days after the filing of the Schedule 14(f).

Andre Soussa, who was recently named Chairman of the Board and Chief Executive Office of GPT, is CEO of Global Payment Technologies Australia ("GPTA"), GPT's largest distributor and customer. He also founded Ecash Pty Ltd, an Australian payment device company in 2000. Andre is an Australian national who has spent many years prior to GPTA in senior executive roles in multinational high technology organizations. He has spent many years in sales, marketing and product development in markets such as Gaming, Communications, & Electronic Media. Andre has an extensive entrepreneurial business outlook with specialties including executive management, corporate strategic planning, and product strategic planning. He holds a Bachelors degree in Electronics Engineering

David Crompton has been a member of the law firm Church & Grace in Australia since 1999 and has 19 years experience as a lawyer in private practice. He is admitted to practice law in the Courts of the 3 Australian states. He is engaged primarily in commercial, corporate & compliance and finance law and advising in transactions. His clients include public companies from the commercial, trading, manufacturing and importation & distribution sectors, financial services companies and fiduciaries, and international companies. He has previously been a tutor in commercial law at the University of Technology, Sydney. He holds the degrees of Bachelor of Economics (accounting and finance), Bachelor of Laws and Master of Laws and a post-graduate Diploma of Applied Finance and Investment. He is a member of The Law Society of New South Wales and a Senior Associate of the Financial Services Institute of Australasia.

Steven Hugh Crisp, an Australian national, has extensive management experience in senior leadership positions with large internationally recognized global information and communications technology organizations. For the past 5 years, he has held the role of Senior Vice President and Chief Operating Officer of Getronics Asia Pacific Japan. He also sits on multiple company and joint venture boards across Asia Pacific and Japan. He has a Bachelor of Business from Curtin University and is a qualified CPA. He holds an Executive MBA (with distinction) from the Australian Graduate School of Management. His specialties include international business development and management, distressed business recoveries and the strategic planning for startup operations.

Robert W. Nader, since April 2005 has been President/Chief Operating Officer and Director for Caribbean CAGE, LLC a route operator for video lottery terminal technology in the Caribbean and Latin America. From October 2001 to January 2005, he was President of United Coin Machine Co., a $200,000,000 a year revenue company with route operations of 8,000 machines for the Nevada market. From 1995 to 2001, he was Senior Vice President Sales/Business Development for Global Payment Technologies, Inc. He has a Master of Business Administration from the Peter F. Drucker Graduate Management Center and a Bachelor of Science in Engineering from the University of Nevada, Las Vegas. He has also been licensed twice by the Gaming Control Board in Nevada.

Andre Soussa, CEO said, "I am very pleased with the appointment of the new board of directors. The combined experience and expertise of each board member will contribute greatly to GPT's direction in the gaming industry and in international business. There is a great deal of work to be done and we are confident that it will result in rebuilding GPT's reputation for product innovation and provide the products and support our customers have come to expect and frankly, deserve from GPT. This is the start of a new GPT and we have begun the transition from the top."

Global Payment Technologies, Inc. is a United States-based designer, manufacturer and marketer of automated currency acceptance and validation systems used to receive and authenticate currencies in a variety of payment applications worldwide. GPT's proprietary and patented technologies are among the most advanced in the industry. Please visit the GPT web site for more information at http://www.gptworld.com

Special Note Regarding Forward-Looking Statements: A number of statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements.