NT1 - Net 1 UEPS Technologies, Inc - Notification of director`s dealings in Net1

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" or "the company")                                                       
Notification of director`s dealings in Net1 securities                          
In compliance with rule 3.63 to 3.65 of the JSE Limited Listings Requirements,  
the following dealings in the securities of Net1 have taken place by a director 
of the company:                                                                 
Director:                         Christopher Stefan Seabrooke                  
Number of securities:             80,990                                        
Class of security:                Common stock                                  
Nature of interest:               Indirect, non-beneficial (1)                  
Nature of transaction:            Irrevocable undertaking to purchase           
                                 common stock                                   
Date of transaction:              23 November 2010                              
Price:                            USD 12.25 (2)                                 
Total transaction value:          USD 992,127.50                                
(1) A trust, settled by a relative of the reporting person and of which the     
reporting person is a discretionary beneficiary, is shareholder of the company  
whose wholly owned subsidiary is acquiring the common stock. The trust          
beneficially owns 33% of the company acquiring the common stock and has the     
right to vote 67% of the issued shares of the company. The reporting person is  
one of four trustees of the trust, and all matters voted on require a simple    
majority. The reporting person is the chief executive of the company acquiring  
the common stock. The reporting person disclaims beneficial ownership of these  
shares except to the extent of his pecuniary interest therein.                  
(2) The shares have been purchased on Nasdaq on behalf of and against an        
undertaking by the company referred to in (1) above to acquire them through the 
JSE Limited once the shares have been moved on to the JSE Limited share         
register, at a South African rand price equal to the dollar price recorded in   
this SENS announcement (plus related transaction costs).                        
24 November 2010                                                                
Johannesburg                                                                    
Sponsor to Net1:                                                                
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 24/11/2010 07:35:00 Supplied by www.sharenet.co.za                     
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