18th Jul 2007 18:00
NETeller PLC18 July 2007 For immediate release Press release NETELLER PLC (the "Company") NETELLER announces service changes to Israeli market Wednesday, 18 July 2007 - NETELLER Plc (LSE: NLR), the independent global onlinepayments business, today announced certain changes to its services in theIsraeli market. The Group continually assesses the risk profile and status of the markets itsserves. Recent legal developments have increased the uncertainty regarding thelegality around certain activities related to online gambling in the Israelimarket. The Company has therefore concluded that the Group will no longerprocess transfers related to online gambling sites on behalf of Israeli residentcustomers. Key features of service changes In light of the recent legal developments in Israel, NETELLER has decided toimplement a voluntary phased withdrawal of the payment services related toonline gambling that it offers customers to the Israeli market. Cessation of Israeli resident customer transfers related to online gamblingmerchants: • The Group will cease processing transfers to online gambling merchants for Israel-resident customers with effect from 12.01 a.m. GMT on Thursday 19 July 2007. • The Group will cease processing transfers from online gambling merchants to Israel-resident customers within two weeks, with effect from 11.59 p.m. GMT on Tuesday 31 July 2007. Non-gambling related services continue: • Israel-resident customers will be able to continue to use their NETELLER e-wallet account for any non-gambling related money transfers and withdrawals. • Local funding options for the NETELLER e-wallet will continue to be available to Israel-resident customers. Customers located in other parts of the world are not affected by this change,and NETELLER continues to service these customers in the normal manner. TheIsraeli business of the Group does not represent a material proportion of theGroup's overall customer base, revenue or profitability. Further information is available on the Group's website for customers at:updates.neteller.com Enquiries: Andrew Gilchrist, VP Communications + 44 (0) 1624 698 713NETELLER Plc Citigate Dewe Rogerson + 44 (0) 207 638 9571Sarah Gestetner/Sebastian Hoyle/George Cazenove If you have any further queries relating to the above, please contact theCompany's nominated adviser on +44 (0) 20 7991 8888. Notes to Editors The NETELLER Group Trusted by millions of consumers to transfer billions of dollars each year, theNETELLER Group operates the world's leading independent online payment business.The Group specialises in providing innovative and instant payment services wheremoney transfer is difficult or risky due to identity, trust, currency exchange,or distance. Being independent has allowed the Group to support thousands ofretailers and merchants in many geographies and across multiple industries. NETELLER Plc is quoted on the London Stock Exchange's AIM market, with a tickersymbol of NLR. NETELLER UK Limited is authorised by the Financial ServicesAuthority (FSA) to operate as a regulated e-money issuer. For more informationabout the Group visit www.neteller-group.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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