Press Release

Year 2006 / Monday September 11, 5:30 am ET

FreeStar Technology Corp. Names Jose Enrique Perez Chief Technology Officer

DUBLIN, Ireland, Sept. 11 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced that Jose Enrique Perez has been named chief technology officer, according to President and CEO Paul Egan.

In this position, he succeeds Angel Pacheco, who was recently promoted to vice president, new business development. As CTO, Perez will be responsible for developing new products and services. He will report to President and CEO Paul Egan.

Perez joins FreeStar Technology from Hypercom Corp., a global leader in electronic payment products and services, headquartered in Phoenix. At that organization, Perez was senior vice president, chief of global offshore development, and general manager of SIA Hypercom Latvia. He was responsible for driving Hypercom's global offshore software strategy, delivering competitive software products worldwide, managing its development centers in Latvia and Russia and managing the SIA Hypercom Latvia operations.

Egan said, "Jose Enrique Perez's experience developing new products for Hypercom will be of invaluable assistance to FreeStar Technology. It will enhance our ability to serve FreeStar Technology's customers that use Hypercom equipment. In addition, his wide-ranging technology background will be useful in developing new products and services to meet the changing needs of the marketplace."

Prior to his 14 years in technology development and management at Hypercom, Perez was an Adjunct Professor at the Florida Computer and Business School. He is currently completing a Ph.D. in International Business at Kennedy-Western University, Agoura Hills, CA. Perez is fluent in English, Russian, Spanish and Portuguese.

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 2 million card payments per month for such companies as Finnair, Ikea and Stockmann. FreeStar is focused on exploiting a first-to- market advantage for its Enhanced Transactional Secure Software, which is a software package that empowers consumers to consummate e-commerce transactions with a high level of security using credit, debit, ATM (with PIN) or smart cards. 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 or http://www.rahaxi.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. When used in this press release, the words "expects," "anticipates," "believes," "plans," "will" and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements regarding our adequacy of cash, expectations regarding net losses and cash flow, statements regarding our growth, our need for future financing, our dependence on personnel, and our operating expenses. 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. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, those discussed above as well as risks set forth above under "Factors That May Affect Our Results." These forward-looking statements speak only as of the date hereof. 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