NET 1 UEPS TECHNOLOGIES INC - The Company Reports Closure of Hawks Investigation in South Africa

The Company Reports Closure of Hawks Investigation in South Africa

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”)

The Company Reports Closure of Hawks Investigation in South Africa

Johannesburg, November 12, 2015 – Net 1 UEPS Technologies, Inc. the Company
(NasdaqGS: UEPS; JSE: NT1) today provided an update on the investigation into allegations
of corruption by the Serious Economic Offences Unit of the South African Police Service’s
Directorate for Priority Crime Investigation (“the Hawks”).

During 2012, shortly after the award of the SASSA tender to the Company, certain media
reports appeared in the South African press which alleged or implied that the SASSA tender
process was tainted by corruption through bribes by or on behalf of our subsidiary, CPS.

On February 14, 2013, the Company filed an application pursuant to Section 34 of the South
African Prevention of Corrupt Activities Act in South Africa with the South African Police
Service. Section 34 deals with the reporting of suspected fraud, theft, extortion and forgery.

Matters reported under Section 34 are usually referred for investigation to the Hawks. The
Company filed the Section 34 application after it conducted its own internal investigation into
the allegations contained in the South African press articles. The Company found no evidence
substantiating any of the press allegations. The Company then filed the Section 34 application
to prompt the Hawks to conduct a wider investigation into the allegations because it did not
have access to the personal financial records of the alleged perpetrators. A separate but similar
complaint was lodged by the Democratic Alliance, the official opposition political party in
South Africa.

The Company has now received a written notice from the Hawks, stating that both cases were
investigated and brought before two separate prosecutors for decisions. As both prosecutors
declined to prosecute these matters, the Hawks have closed the investigations and regard the
matters as finalized.

“It is regrettable that a Company’s image can so easily be tarnished through irresponsible
media reports,” said Dr. Serge Belamant, Chairman and CEO of the Company. “We are
delighted to receive yet another vindication from the authorities regarding the scurrilous
accusations leveled against us, in addition to the High Court, Appeals Court and Constitutional
Court’s dismissals of the corruption allegations, the SEC’s recent non–prosecution notice and
the dismissal of the class action lawsuit commenced in the United States District Court for the
Southern District of New York. We hope that these findings send a message to the architects
of these defamatory reports that justice will prevail,” he concluded.

About Net1 (www.net1.com)

Net1 is a leading provider of alternative payment systems that leverage its Universal
Electronic Payment System (“UEPS”) or utilize its proprietary mobile technologies.
The Company operates market-leading payment processors in South Africa and the Republic
of Korea.

UEPS permits the Company 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. Net1’s UEPS/EMV solution is interoperable with
global EMV standards that seamlessly enable access to all the UEPS functionality in a
traditional EMV environment. In addition to payments, UEPS can be used for banking,
healthcare management, payroll, remittances, voting and identification.

Net1’s mobile technologies include its proprietary mobile payments solution - MVC, which
offers secure mobile-based payments, as well as mobile banking and prepaid value-added
services in developed and emerging countries. The Company intends to deploy its varied
mobile solutions through its ZAZOO business unit, which is an aggregation of innovative
technology companies and is based in the United Kingdom.

Net1 has a primary listing on the NASDAQ and a secondary listing on the Johannesburg Stock
Exchange.

Forward Looking Statements

This announcement contains forward-looking statements that involve known and unknown
risks and uncertainties. A discussion of various factors that cause our actual results, levels of
activity, performance or achievements to differ materially from those expressed in such
forward-looking statements are included in our filings with the Securities and Exchange
Commission. We undertake no obligation to revise any of these statements to reflect future
events.


Investor Relations Contact:
Dhruv Chopra
Head of Investor Relations
Phone: +1 917-767-6722
Email: dchopra@net1.com

Johannesburg
November 12, 2015

Sponsor:
Deutsche Securities (SA) Proprietary Limited

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