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Acquisition of iCash Australian ATM Network

ACQUISITION OF ICASH AUSTRALIAN ATM NETWORK HIGHLIGHTS EZA has agreed to acquire Australian ATM Network from iCash for $16mil Combined business of 1,700 ATMs generating 10,000,000 transactions per year and annual EBITDA of $5mil1 To be funded by placement to raise $8mil to $10mil and existing cash and debt facilities Ezeatm Limited (EZA, Ezeatm) is pleased to announce it has agreed to acquire the Australian ATM network of iCash Payment Systems Limited (ICP, iCash) for $16mil. The network operates over 1,600 ATMs with 1,000 owned and operated by iCash and a further 600 owned and operated by third party deployers. The acquisition is conditional upon approval by Ezeatm shareholders. As part of the acquisition, Ezeatm will acquire iCashs wholly owned subsidiary which holds iCashs ATMs and the underlying contracts with each merchant and switching contracts in place with each independent deployer. Ezeatm is not assuming any employee or premises obligations, and does not expect its fixed operating costs and overheads to materially change as a result of the acquisition. The acquisition will increase the annualised number of transactions on the Ezeatm network from 1,000,000 to 10,000,000 transactions per year, with a combined annual EBITDA of $5mil1 The acquisition of the network will be immediately EPS accretive and will be funded by way of a placement to raise between $8mil and $10mil, debt funding and existing cash reserves. Ezeatm is also negotiating a distribution agreement for the iCash range of products in Australia, with an intended commitment to purchase 2,000 ATMs over a five year period. In announcing the acquisition of the ATM network from iCash, Mr Todd Zani, Ezeatms Chief Executive Officer said This deal is a major step in our national expansion strategy and determination to become the largest independent ATM deployer in Australia. The size and flexibility of the combined business and relationship with iCash enables an aggressive approach to growth opportunities. Shareholder approval must be obtained by 17 January 2012 with completion shortly thereafter.

Ezeatm intends to dispatch a notice of meeting shortly and for the meeting to be held on 16 January 2012. For further information, please contact Todd Zani Chief Executive Officer Tel 61 (0)8 9249 7422.