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1 December 2006

cashplus Mastercard receives award for The Most Promising New Product in Retail - Financial Services

The Institute of Financial Services School of Finance (part of the Chartered Institute of Bankers) have awarded Advanced Payment Solutions the Most Promising New Product – Retail Financial Services award for their cashplus prepaid MasterCard.

The award is based on innovation and business promise. The judges were impressed with the cashplus prepaid MasterCard due to the fact that the consumer controls the cost of the card and the card is available to the people who are currently outside the banking system.

"We are really proud to receive this award and see the cashplus prepaid MasterCard card recognised in this exciting and rapidly growing sector," says Rich Wagner, Chief Executive Advanced Payment Solutions.

Keith Hobbs, Head of Business Development at MasterCard comments, "We are delighted that our business partners at APS have triumphed against some tough competition to receive this award. The cashplus prepaid MasterCard is a truly innovative product, which is meeting real consumer needs in the rapidly expanding UK prepaid payment card market.

Prepaid cards enable a wider range of customers to participate in the payment card system. This includes those who do not have or cannot obtain a credit card and migrants recently arrived in the UK who need access to a payment card and as a convenient and cost-effective way of sharing money with friends and relatives back home.

These consumers are also being enfranchised by the financial freedom offered to them by a payment card they can use without having to open a bank account or undergo credit referencing".

cashplus is the leading prepaid card in the UK and has seen a 500% growth over the last year. Launched in October 2005 the total customer funds loaded on to the cards is approaching £50 million.

Ends

About Advanced Payment Solutions

Advanced Payment Solutions was established in early 2004 to become the pre-eminent leader of general purpose prepaid cards and payment solutions in the United Kingdom. Its senior management team and board of directors have unparalleled experience in the prepaid and payment industry. The company aims to lead UK prepay market growth to emulate the success of prepaid payment cards in the US. APS' first prepaid payment card, the cashplus^™ prepaid MasterCard, launched in September 2005, is the UK's first general purpose prepaid chip and PIN payment card. Cardholders can reload their MasterCard at over 14,000 Post Office^® branches and some 450 retailers throughout the UK. Alongside developing its cashplus^™ product portfolio, APS provides a suite of services for businesses wanting to offer branded prepaid products to their customers.

Consumer website: www.mycashplus.co.uk
Corporate website: www.apsgroup.com
Contact: info@apsgroup.com

ifs School of Finance is a registered charity incorporated by the Royal Charter. It provides financial education to financial services professionals worldwide and to consumers in the UK. The annual ifs/Capgemini financial innovation awards were held in London during November 2006. Further information can be found on www.financialawards.com

cashplus is issued by Broadcastle Bank Ltd, which is authorised and regulated by the Financial Services Authority.

cashplus is serviced by Advanced Payment Solutions Ltd which is a registered agent of Broadcastle Bank Ltd for this purpose.

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