PayLife Top Managers Decorated by the Republic of Austria

Presentation at the Federal Ministry of Finance

press release 12/13/10

photos from the decoration

Not just one, but three Orders of Merit were awarded to representatives of the PayLife Bank GmbH on Friday December 10 ^th, 2010.Department Head Mag. Thomas Wieser presented the awards on behalf of the Minister of Finance Josef Pröll.He presented Peter Neubauer, CEO of PayLife and Dr. Ewald Judt, CEO of PayLife with the “Decoration of Honor in Silver for Services to the Republic of Austria”. Furthermore, authorized signatory Walter Bödenauer was awarded the “Decoration of Merit in Gold to the Republic of Austria”.

“We are incredibly pleased to receive these awards, especially right now as we celebrate the anniversary of PayLife.They show that the many years of service and the overall economic importance of PayLife are recognized.As the market leader, we are pleased that with our 85,000 points of acceptance we are a strong partner for the retail and the service industries.For 30 years, PayLife has been the innovation leader and THE connection between cardholders, merchants and banks for cashless payment in Austria.That is something to be proud of,” explains Neubauer.“We also see these awards as the perfect opportunity to thank all our employees, partners and customers for their decades of trust and commitment.”

The active and competent role of PayLife in the past three decades has also led to a corresponding international reputation and recognition.Experts from PayLife are members of numerous international expert groups and forums in the card and payment industry.Since 1980, PayLife has been the market leader and number 1 in Austria for card payments, making it one of the longest standing, most experienced and stable card companies in Europe.

Peter Neubauer has been in the banking business for over thirty years.The first stops in his career followed the classic path in the banking profession at the Creditanstalt from branch offices through marketing to payment transactions and into the card business of the largest Austrian bank at that time.After a few more stops in the banking business (including Erste Bank), Peter Neubauer came to PayLife Bank GmbH (formerly Europay Austria) where he has been a Member of the Board since in 2003, and CEO since 2004.During this time, the card business and the environmental factors that influence it have been subjected to a dynamic change.

Dr. Ewald Judt has been Managing Director since the founding of the PayLife predecessor companies and has made significant contributions on the long road to establishing cashless payment with cards, both on the side of card issuing, as well as on the side of card acceptance. During this time he also initiated the transition from making payments with an imprinter to processing with an electronic terminal. He played a major role in the further expansion of the possibilities for cash withdrawal via ATM (today Austria now has a closely-knit nationwide network of ATMs), and in making the PayLife Bankomat-Kasse Austria's most widely used POS terminal today.

Mr. Walter Bödenauer has accompanied PayLife for 29 years already in various positions of responsibility.Mr. Bödenauer has also been active internationally in various security and expert groups.Today, due to his expertise, he is not only active in security workgroups of the European Community and international card organizations, but also overseas in the Bureau of International Organization and the “Global Fraud Advisory Council”, a global credit card company.Mr. Bödenauer is a globally recognized and sought after expert for security issues and risk management in the card business.

For 30 years, PayLife has been the market leader and number 1 in Austria for card payment. PayLife offers security, reliability and a strong partnership with all of our customers and partners. PayLife is an Austrian company owned by financial institutions and we stand for stability, customer friendliness and innovation. We combine comprehensive know-how in the card business with a wide range of products and services for all the most popular brands. PayLife offers the Bankomat-Kasse POS Terminal for every sector and the Bankomat ATM Service for all Austrian cardholders. Customers and partners can expect more from us: PayLife. Bringing life to your card.

For questions please contact:

Angela Szivatz, 01/ 717 01- 6541

PayLife Bank GmbH

angela.szivatz@paylife.at

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