21st Mar 2007 09:00
NETeller PLC21 March 2007 NETELLER Takes Positive Step Towards Returning US Customers' Funds Wednesday, 21 March 2007 - The NETELLER Plc Group (LSE: NLR), the leading globalindependent online money transfer business, today announced that it has signedagreements with each of the United States Attorney's Office for the SouthernDistrict of New York ("USAO") and Navigant Consulting, Inc. ("Navigant"). On 8 February 2007, the Group announced that it was in discussions with the USAOto manage an orderly return of funds to US customers and that it wascontemplated that a forensic accounting firm would be engaged, at the Group'sexpense, to assist in this process and to examine the Group's financialposition. The Group is pleased to announce that on 20 March 2007, it signed agreementswith the USAO and Navigant which, among other things, outline terms and atimeline under which NETELLER will work toward the orderly distribution of fundsto its US customers. Per the agreements, the Group anticipates that within thenext 75 days it will announce a plan by which the funds will be distributed toUS customers. Navigant will also provide a report to the USAO on the Group'scurrent financial condition. "We continue to be committed to returning funds to our US customers and workingwith the US Attorney's Office," said Ron Martin, Group President and CEO."Progress, while not always visible to the outside observer, has been steady andthese agreements mark a milestone in the process." NETELLER is continuing to cooperate with the USAO's investigation, under theadvice of its legal advisers and in accordance with court orders in the Isle ofMan. Further updates with relation to the US situation will be made as soon as thereare any material developments. In the meantime, US customers should visitupdates.neteller.com for more information, including newly updated FAQs thatprovide additional clarity, where the Group is able, around certain issuescurrently being raised in a number of public forums. Additionally US Customerscan contact NETELLER Customer Service on the web or by phone at 1-888-258-5859. Enquiries: Citigate Dewe Rogerson + 44 (0) 207 638 9571Sarah Gestetner/Sebastian Hoyle/George Cazenove Notes to Editors The NETELLER Group Trusted by millions of consumers to transfer billions of dollars each year, theNETELLER Group operates the largest independent online money transfer businessin the world. The Group specialises in providing innovative and instant paymentservices where money transfer is difficult or risky due to identity, trust,currency exchange, or distance. Being independent has allowed the Group tosupport thousands of retailers and merchants in many geographies and acrossmultiple industries. The Group 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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