NET 1 UEPS TECHNOLOGIES INC - Net 1 UEPS Technologies, Inc. receives letters from DOJ and SEC regarding investigations

Net 1 UEPS Technologies, Inc. receives letters from DOJ and SEC regarding investigations

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”)

Net 1 UEPS Technologies, Inc. receives letters from DOJ and SEC regarding
investigations

On November 30, 2012, Net1 received a letter from the U.S. Department of Justice,
Criminal Division (the “DOJ”) informing it that the DOJ and the Federal Bureau of
Investigation have begun an investigation into whether Net 1 UEPS Technologies,
Inc. and its subsidiaries, including its officers, directors, employees, and agents
(collectively, “Net 1”) and other persons and entities possibly affiliated with Net1
violated provisions of the Foreign Corrupt Practices Act and other U.S. federal
criminal laws by engaging in a scheme to make corrupt payments to officials of the
Government of South Africa in connection with securing a contract with the South
African Social Security Agency to provide social welfare and benefits payments and
also engaged in violations of the federal securities laws in connection with statements
made by Net1 in its SEC filings regarding this contract. On the same date, Net1
received a letter from the Division of Enforcement of the Securities and Exchange
Commission (the “SEC”) advising it that it is also conducting an investigation
concerning the Company. The SEC letter states that the investigation is a non-public,
fact-finding inquiry.

Net1 intends to cooperate fully with the DOJ and the SEC regarding these
investigations. Net1 is unable to predict what action, if any, might be taken in the
future by either the DOJ or the SEC as a result of the matters that are the subject of
these investigations or what impact, if any, this announcement and the existence of
these investigations may have on Net1’s relations with SASSA, the Net1 BEE option
transaction, the Company’s financial position, results of operations and cash flows, its
intended business strategies or Net1’s share price.

About Net1 (www.net1.com)
We are a leading provider of alternative payment systems that leverage our Universal
Electronic Payment System, or UEPS, to facilitate biometrically secure real-time
electronic transaction processing to unbanked and under-banked populations of
developing economies around the world in an online or offline environment. In
addition to payments, UEPS can be used for banking, healthcare management,
payroll, remittances, voting and identification.

We operate market-leading payment processors in South Africa, Republic of Korea,
Ghana and Iraq. In addition, our proprietary Mobile Virtual Card technology offers
secure mobile payments and banking services in developed and emerging countries.

We have a primary listing on the Nasdaq and a secondary listing on the JSE Limited.
Investor Relations Contact:
Dhruv Chopra
Vice President of Investor Relations
Phone: +1-212-626-6675
Email: dchopra@net1.com

Johannesburg
4 December 2012

Sponsor:
Deutsche Securities (SA) (Proprietary) Limited

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