FreeStar Technology Corp.'s Rahaxi Processing Oy Enters Into Distributor and Referral Agreement With SYSOPENDIGIA, the Leading Finnish ICT Services, Products and Technologies Provider

Major Finnish ICT Solutions Provider to Offer Rahaxi Processing's Secure Payments Interface, Rahaxi-OTI to Its Clients


HELSINKI, Finland, Nov. 7, 2007 (PRIME NEWSWIRE) -- FreeStar Technology Corp. (OTCBB:FSRT), an international card payments processor and technology company, today announced that its wholly owned subsidiary Rahaxi Processing Oy ("Rahaxi") has entered into a distributor and referral agreement with SYSOPENDIGIA Plc., the leading Finnish ICT products, services and technologies provider.

Mr. Jyrki Matikainen, Sales Director of Rahaxi Processing Oy, commented on the agreement: "We are delighted that a major player in the Finish ICT industry, SYSOPENDIGIA, has chosen Freestar as their EMV and PCI partner. SYSOPENDIGIA has a wide variety of different POS solutions for different business segments to which Rahaxi-OTI(tm) will be integrated due to its high flexibility. We have already successfully completed first customer installations in the field. We are looking forward for a long and fruitful co-operation with SYSOPENDIGIA that will also have a positive impact on our revenue growth."

About SYSOPENDIGIA Plc.

SYSOPENDIGIA Plc. is a modern and agile software company delivering ICT products, services and technologies for its customers to improve their competitive advantage -- solutions for the needs of the transforming world.

Solutions that are independent of used devices and technology give a true freedom and enable that the right information reaches the right people in the right place and at the right time -- that's real-time enterprise. As a comprehensive solution provider and systems integrator, SYSOPENDIGIA offers its customers an extensive range of IT products and services, strong mobile software expertise and business area knowledge in various sectors.

The company is based in Finland, operating globally and employing over 1,100 professionals. SYSOPENDIGIA is listed on the Nordic Exchange.



 -- Turnover: EUR 85.0 million (EUR 60.5 million in 2005)
 -- EBIT: EUR 8.4 million (EUR 4.2 million in 2005)
 -- Profitability (EBIT percentage): 9.8 percent (7.0 percent in 2005)
 -- Earnings per share: EUR 0.25 (EUR 0.14 in 2005)

For more information, please visit www.sysopendigia.com

About FreeStar Technology Corporation

FreeStar Technology Corp. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. FreeStar Technology has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its subsidiaries, Rahaxi Processing Oy, Finland, FreeStar Technologies Ireland, Ltd., and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level its partners can offer their customers.

For more information, please visit http://www.freestartech.com and http://www.rahaxi.com

About EMV and PCI

EMV is an international standard, developed in response to certain types of bank card fraud. In time, EMV will replace the magnetic strip with a chip all over the world, on both credit cards and other bank cards. This will change some payment transactions. The name EMV stands for the initiating organizations, namely the former Europay, and the international organizations MasterCard and Visa.

PCI/DSS is a set of industry-wide requirements and processes (instituted by Visa, MasterCard, Diners, AMEX, JCB and Discover) that ensure the security of valuable cardholder account data. PCI DSS includes requirements for security management, policies, procedures, network architecture, software design and other critical protective measures.

Forward Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The companies caution that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in FreeStar's Form 10-KSB filing and other filings with the U S. Securities and Exchange Commission (available at http://www.sec.gov). FreeStar undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.



            

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