News release

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Redha Al-Ansari Exchange joins Luup ecosystem

Copyright Luup Ltd. Growing mobile remittance infrastructure benefits hundreds of thousands expatriate workers Dubai - November 22nd, 2011 Redha Al-Ansari Exchange, one of the UAE's largest exchange house networks that provides worldwide remittance and foreign exchange services, has selected Luups universal mobile payment platform to enable its services to be delivered through the mobile handset. The strategic partnership will enable Redha Al-Ansari Exchange to offer quicker, secure and more convenient services to all its customers. Redha Al-Ansari Exchange and Luup sealed their partnership at an official signing ceremony attended by the Ambassador of Norway, se Elin Bjerke, in recognition of Luups achievements and the growing business cooperation between Norway and the UAE. Luup has its research and development hub in Norway. "It is inspiring to see how Luup successfully builds ties across the UAE and expands its mobile remittance ecosystem, leveraging technology from Norway," said se Elin Bjerke. "Such initiatives positively affect the lives of so many who work away from home - all migrant workers in the UAE are potential users." Luup has previously announced partnerships with several money transfer organisations in the Middle East and South East Asia. Adding Redha AlAnsari Exchange, with their financial and remittance expertise, significantly extends the mobile remittance infrastructure and will bring benefits to hundreds of thousands of workers in the UAE and beyond.

Copyright Luup International Ltd. 2011. All rights reserved.

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Users, who are mostly migrant expatriate workers, will be able to send money home easily and safely and in real time. Luups reputation in the market is that of a pioneer in mobile technology who is successfully expanding. Joining their ecosystem for mobile remittances will have clear benefits for our business as well as our customers said Ahmed Redha Alansari, Chairman of Ansari Exchange. He added: Cutting out the need for time-consuming visits to our branches is a massive improvement in the life of migrant workers who exchange and remit money via our services. Add to that the in your own time convenience, speed via pre-registrations and security of mobile phones versus cash and the benefits for users are clear - all competitively priced too. Morten Hofstad, Regional Director Middle East, Africa and India for Luup, said: Partnering with Luup brings business benefits to Redha Al-Ansari Exchange, such as access to new customers and revenue streams as well as operational cost-savings. Workers are predominantly from Asia with 60% from India and large contingents also from Bangladesh and Pakistan. Luup has partnership arrangements with leading companies in these regions too; see
http://www.luup.com/news-and-events/press-releases.aspx.

Redha Al-

Luup CEO, Martin Wilson, explained: Payment and Remittance options are often time consuming and complex. Luups universal mobile payment platform and remittance eco-system will enable Redha Al-Ansari

Copyright Luup International Ltd. 2011. All rights reserved.

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Exchange to provide a seamless, secure and convenient service to their customers across multiple corridors.
- Ends About Redha Al-Ansari Exchange
Redha Al-Ansari Exchange (RAE), one of the fastest growing and one of the leading foreign exchange & remittance companies in the UAE with a presence in 28 customer convenient locations. RAE has always been about bringing the customer the latest technological advancements in global money transfer solutions, combined with consistency and accuracy. RAE established its first office in Dubai in the year 1979, as the natural extension of Al Ansari Exchange, a business started in 1945 by the Late Ghulam Abbas Al Ansari, the head of Al Ansari Family. Since then the establishment has been trusted for its reliability and performance consistency by both UAE nationals and expatriates in the region. RAE is a specialist in foreign currency exchange and remittances in major currencies with an extensive correspondent network of over 50 financial institutions throughout the world. We also have tie-ups with major banks in the UAE for their credit card payments; arrangement with du for their telephone bill payments; sale of National Bonds and we are the only exchange company who is authorized to sell and recharge RTA NOL cards. Being one of the leading foreign exchange companies in UAE we are continually striving to offer our customers faster and more efficient services. The strength of our company is in the exemplary service provided to our customers and strong fundamentals which have been built with 66 years of experience.

About Luup
Luup offers bank-grade mobile payment and financial services solutions that solve clients' business challenges. With its universal mobile payment platform, it provides access to new cost-saving and revenue-generating business models: corporate and transaction banks can take advantage of the Luup Mobile Corporate Solution; retail banks can benefit from the Luup Mobile Branchless Solution; money transfer organisations & exchange houses can innovate with the Luup Mobile Remittance Solution. Luup has proven best-practice experience in developing, deploying and running mobile money managed services since 2002. These range from mobile cash or salary disbursements to remittances and corporate payments - all securely via mobile devices. Luup is creating an extensive payments ecosystem, enabling its clients to expand their own business reach with Luup's partners. Consumers benefit through a comprehensive range of services that drive cost savings and financial inclusion. The company is integral to strategies of financial institutions such as Deutsche Bank's Global Transaction Banking group and leading UAE bank, the National Bank of Abu Dhabi. Other partners include Oxigen Services in India, Dhasatra in Indonesia and ITC Ltd in Bangladesh. For additional information visit the Luup website.

Luup regional contact:

Luup press contact:

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Sales: Morten Hofstad Regional Director MENA and India Phone +971 552222705 Email morten.hofstad@luup.com Dubai, United Arab Emirates Press: The Content Factory Layth Dajani Phone +971 (4) 4472501 Email team@tcf-me.com Dubai, United Arab Emirates Beatrice Martin-Vignerte Director of Corporate and Marketing Communications Phone +44 788 4187763 Email beatrice.m-vignerte@luup.com London, United Kingdom

Luup and the Luup logo are trade marks of the Luup Group of Companies. All other company or product names mentioned herein may be trade marks of their respective owners

Copyright Luup International Ltd. 2011. All rights reserved.

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