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Josh Sim Appointed At Smartpay Ltd

MEDIA RELEASE FOR IMMEDIATE RELEASE


Josh Sim Appointed Chief Financial Officer At Smartpay Ltd


Auckland Friday November 24 2006: Prepaid solutions provider SmartPay Ltd (NZX:SPY) today announced the appointment of Mr Josh Sim as chief financial officer.

He has spent 15 years in various senior finance positions, more recently with Hewlett-Packard which he joined in 2000.

Mr Sim holds an MBA from Henley Management College, London and a Bachelor of Commerce from Auckland University.

Ms Melissa Barry has been appointed sales manager at SmartPay Ltd. She joined the company in February 2005 as a territory manager.

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ABOUT SMARTPAY LTD

SmartPay Ltd (NZX:SPY) is a leader in the development and supply of innovative electronic prepaid 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-paid 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


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