DGAP-News: MonoBank PLC acquires UK Logic PLC and enters Mobile Money Transfer Market

MonoBank PLC / Mergers & Acquisitions/Mergers & Acquisitions

16.04.2009 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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MonoBank PLC acquires UK Logic PLC and enters Mobile Money Transfer Market

London, United Kingdom - (For immediate release) - April 15th, 2009

MonoBank PLC, a company specializing in offering prepaid debit solutions to
the credit challenged consumer market, is pleased to announce the
acquisition of 95% of the outstanding shares of UK Logic PLC. The all stock
transaction is subject to further due diligence and the approval of
regulatory authorities; MonoBank expects to close the transaction in 30
days, at which time the particulars will be released.

UK Logic PLC, a private UK company, develops mobile payment technology
solutions and holds an exclusive license for a Mobile Banking System (MBS)
and Mobile Money Transfer System (MTTS) enabling clients to use their
mobile phone or the internet to transfer money worldwide.  UK Logic MBS
allows customers to complete money transfers (value transfers) and simple
financial transactions using their mobile phone or PDA utilizing SMS
messaging services and a stable and secure financial transaction software
platform.

The World bank and GSM association estimates that the global mobile money
transfer and banking activities will double the number of recipients of
money transfers to more than 1.5 billion from 200 million in 2006 and will
quadruple in size creating a market of $1 Trillion dollars by 2012 from
$250 billion dollars in 2006.  Mobile money transfer services are gaining
popularity in developing countries where far more people own mobile phones
than have bank accounts.  The global money transfer industry transaction
revenues are expected to reach 18 billion by next year, according to Aite
group.

Monobank PLC management is excited by this acquisition as it represents an
extension of our current product offering and allows us to generate
revenues from the billion dollar money transfer market. Once the
transaction is complete, MonoBank plans to launch the MonoRemit money
transfer service in June of 2009.

About MonoBank PLC 
MonoBank PLC, a company incorporated in London, England was founded with
the vision of providing products and services to credit challenged
prospects. The company's mission is to provide a variety of products and
services to the credit challenged and to continue to develop new
first-to-market prepaid and debit card programs, building on consumer
acceptance and brand recognition while ensuring customer satisfaction.

We know that each customer has specific needs. At MonoBank PLC, we strive
to meet those specific needs with quality service and individual attention.
We pride ourselves in giving customers the lending options they are looking
for.

Disclaimer & Safe Harbor Statement: 
This release includes forward looking statements, which are based on
certain assumptions and reflects management's current expectations. These
forward looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ
materially from current expectations.  The Company disclaims any intention
or obligation to update or revise any forward looking statements, whether
as a result of new information, future events or otherwise. 'Safe Harbor'
Statement under the U.S. Private Securities Litigation Reform Act of 1995:
This release contains certain 'forward-looking' statements within the
meaning of the Private Securities Litigation Reform Act of 1995.

For further information please contact: 
MonoBank PLC. 
Investor Relations Department
+ 44 (0) 20 7788 7986
email: info@monobankplc.com

Copyright (c) 2009 MonoBank PLC. All rights reserved. 
DGAP 16.04.2009 
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