Net1 Provides Further Update on SASSA Tender Process

JOHANNESBURG, SOUTH AFRICA--(Marketwired - February 11, 2015) - Net 1 UEPS Technologies Inc. ("Net1" or the "Company") (NASDAQ: UEPS) (JSE: NT1) today provided a further update on the SASSA tender process.

Further to the directions provided by the South African Constitutional Court ("Court") as described in the Company's press release dated February 6, 2015, SASSA has advised the Court that it will avail itself of the opportunity provided by the directions, and file an amended draft Request for Proposal with the Court by Friday, February 13, 2015.

About Net1 (www.net1.com)
Net1 is a leading provider of alternative payment systems that leverage its Universal Electronic Payment System ("UEPS"), to facilitate biometrically secure, real-time electronic transaction processing to unbanked and under-banked populations of developing economies around the world in an online or offline environment. Net1's UEPS/EMV solution is interoperable with global EMV standards that seamlessly permit access to all the UEPS functionality in a traditional EMV environment. In addition to payments, UEPS can be used for banking, healthcare management, payroll, remittances, voting and identification.

Net1 operates market-leading payment processors in South Africa and the Republic of Korea. In addition, Net1's proprietary MVC technology offers secure mobile payments and banking services in developed and emerging countries.

Net1 has a primary listing on the NASDAQ and a secondary listing on the Johannesburg Stock Exchange.

Investor Relations Contact:

Dhruv Chopra
Head of Investor Relations
Phone: [phone]
Email: [e-mail]