Net1 Responds to National Credit Regulator Press Release

JOHANNESBURG, SOUTH AFRICA--(Marketwired - Sept. 23, 2014) - Net 1 UEPS Technologies Inc. ("Net1" or the "Company") (NASDAQ:UEPS)(JSE:NT1) today responded to the press release issued by the South African National Credit Regulator ("NCR") on September 22, 2014. In its release, the NCR announced that it had applied to the National Consumer Tribunal ("Tribunal") to cancel the registration of Net1's subsidiary Moneyline Financial Services (Pty) Ltd ("Moneyline") for breach of the South African National Credit Act ("NCA") based on an investigation concluded by it. The NCR's press release alleges, among other things, that Moneyline contravened the NCA by including child support grants and foster child grants in the affordability assessments performed by Moneyline prior to granting credit to these borrowers, and that the procedures followed and documentation maintained by Moneyline are not in accordance with the NCA.

Net1 Responds to National Credit Regulator Press Release