NT1 - Net 1 UEPS Technologies, Inc. - Notification of director`s dealings in

NT1 - Net 1 UEPS Technologies, Inc. - Notification of director`s dealings in    
Net1 securities                                                                 
Net 1 UEPS Technologies, Inc.                                                   
Registered in the state of Florida, USA                                         
(IRS Employer Identification No. 98-0171860)                                    
Nasdaq share code: UEPS                                                         
JSE share code: NT1                                                             
ISIN: US64107N2062                                                              
("Net1")                                                                        
Notification of director`s dealings in Net1 securities                          
In compliance with rule 3.63 to 3.65 of the JSE Limited Listings Requirements,  
Net1 hereby advises that on 27 May 2009, in connection with the withdrawal by a 
trust ("Trust"), settled by Alasdair Jonathan Kemsley Pein ("Alasdair Pein"), a 
director of Net1, of which Alasdair Pein is a beneficiary, as a partner of      
Brenthurst Private Equity II Limited ("Brenthurst"). Alasdair Pein transferred  
25,001 shares of common stock to Brenthurst (which represented the shares       
previously acquired upon exercise of certain options which Alasdair Pein held   
for the benefit of Brenthurst pursuant to certain arrangements).  At the same   
time, Brenthurst has distributed to the Trust 119,991 shares of common stock,   
being the Trust`s pro rata interest in all of such shares held by Brenthurst,   
and a partnership associated with Brenthurst has distributed a further 35,133   
shares to the Trust (a total of 155,124 shares in all), being the Trust`s pro   
rata interest in all of such shares held by that associated partnership.        
The nature of the ownership is indirect beneficial.                             
29 May 2009                                                                     
Johannesburg                                                                    
Sponsor to Net1:                                                                
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 29/05/2009 11:36:01 Supplied by www.sharenet.co.za                     
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