Press Release

Year 2006 / Tuesday April 11, 5:30 am ET

FreeStar Technology's Rahaxi Processing Oy. Achieves EMV-Certification For Its Rahaxi-OTI(TM) (Open Terminal Interface) Middleware Software Solution in Finland

DUBLIN, Ireland, April 11 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced that its Rahaxi Processing Oy. subsidiary has received EMV-certification for Visa®, MasterCard® and all domestic Finnish cards used with its Rahaxi-OTI(TM) Point Of Sale (POS) middleware solution from Luottokunta in Finland.

Rahaxi-OTI(TM) provides a secure payment interface between the merchant, the banks and credit card acquirers. All payment related transaction types are supported; also both traditional magnetic cards and EMV chip cards are enabled through Rahaxi-OTI(TM).

The company reported that with its wide variety of international standard card payments processing products and services, Rahaxi Processing Oy is now able to offer secure, online EMV-card transaction processing to merchants as well as to Point Of Sale (POS) software and hardware vendors in addition to traditional magnetic stripe card transaction processing.

FreeStar Technology CEO Paul Egan said, "With this certification, Rahaxi adds to its already extensive range of payment processing solutions and services, giving the company the ability to reach a much wider client base. We are now fully capable of processing chip cards and we expect to see a vast growth as the migration to chip usage is gathering rapid pace in the region. OTI was developed to meet the needs of Rahaxi Processing's POS partners. It is capable of supporting different EMV pin pads from a variety of suppliers.

Jyrki Matikainen, Rahaxi's Sales Director stated, "Rahaxi has been a strong supporter of EMV from the beginning and we continue to invest in and comply with EMV specifications so that our customers can reap the benefits of having terminals that are fully compliant." He further stated, "As a result of the OTI certification, Rahaxi has identified a target market of two thousand new customers that may avail of OTI in Finland over the next twelve months. We believe that this target market could produce an additional 900,000 Euros in sales during that period."

About FreeStar Technology Corporation

FreeStar Technology Corp. is a payment processing company. Its wholly owned subsidiary Rahaxi Processing Oy., based in Helsinki, has a robust Northern European BASE24 credit card processing platform. Rahaxi currently processes in excess of 1.8 million card payments per month for such companies as Finnair, Ikea and Stockman. The company, based in Dublin, Ireland, maintains satellite offices in Santo Domingo, Dominican Republic, Helsinki and Geneva. For more information, please visit http://www.freestartech.com.

Forward Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The companies caution that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in FreeStar's Form 10-KSB filing and other filings with the U S. Securities and Exchange Commission (available at http://www.sec.gov). FreeStar undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.

For more information, please contact:

FreeStar Technology Corporation,
Paul Egan
Tel: 809-368-2001
E-mail: pegan@freestartech.com
or
Investor Relations:
Stern & Co.
Arun Chakraborty
Tel: 212-888-0044
E-mail: achakrab@sternco.com

Source: FreeStar Technology Corporation