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SmartPay Ltd Signs Deal with Chi Tel

SmartPay Ltd Signs Deal with Chi Tel Calling Card Company

Auckland Thursday June 1 2006 - Prepay solutions provider SmartPay Ltd (NZX:SPY) has signed a deal with international calling card supplier Chi Tel NZ Ltd to sell re-chargeable cards and prepay topups through its nationwide electronic payment network.

The agreement adds another major player to SmartPay’s expanding supplier base which includes Vodafone NZ, Telecom NZ and Boost prepay products and mobile topups.

Chi Tel, which established in New Zealand four years ago, is one of the leading international calling card suppliers and sells its product through retail outlets. The local company is a wholly owned subsidiary of global communications giant, First Mobile Group, which is listed on the Hong Kong Stock Exchange.

SmartPay chief executive Linc Burgess says he is pleased to clinch the deal with Chi Tel, given the company’s profile and powerful brand marketing in New Zealand.

“Chi Tel has a substantial retail base of over 2000 outlets which creates various business synergies with the nationwide SmartPay network.”

Chi Tel products sold in New Zealand include the Chi Tel and Talk2U calling cards. The cards are used for calling to any country in the world as well as making cheap toll calls to other cities in New Zealand.

Chi Tel general manager Kevin Day says the international calling card market is extremely price driven.

“It has always been Chi Tel’s policy to not only offer highly competitive prices, but also great call quality along with exceptional service to both business partners and customers.

“We signed with SmartPay because we were comfortable with where they were positioning themselves in the market in terms of network distribution and technology development.”

The international calling card market in New Zealand is valued at up to $100 million annually.

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ABOUT SMARTPAY LTD

SmartPay Ltd (NZX:SPY) is a leader in the development and supply of innovative electronic prepay solutions including mobile phones, international calling cards, internet services, gift cards and a range of other products

For an example of the business in which they operate, the value of the pre-pay mobile and international calling card market in New Zealand is estimated at $500 million and $100 million annually and growing every year.

Established in 2004, SmartPay has signed contract agreements with telecommunications networks and product suppliers including Telecom New Zealand Ltd and Vodafone New Zealand Ltd. The company is also researching and developing potential software business interests in New Zealand and internationally, including markets in Australia and Asia Pacific.

In New Zealand, SmartPay manages a network of merchants who supply products to a wide range of retailers, including a number of high profile, national retail chains and route/convenience store owners and operators.

More information about SmartPay is available at www.smartpay.co.nz

ENDS

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