Press Release

Year 2006 / Tuesday November 21, 3:30 pm ET

FreeStar Technology Corp. Acquires 50% Stake in IT Consultants, Project Life Cycle Partners Ltd.

DUBLIN, Ireland, Nov. 21 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced that it has completed acquisition of a 50% stake in Project Life Cycle Partners, Ltd., an IT consultant that manages and implements information systems projects for major banking and financial services institutions in Europe, the Middle East, Asia and Africa.

PLC Partners clients include: IVAX Pharmaceuticals UK; Bertelsmann Distribution Financial Services; Deutsche Bank; NM Rothschilds & Sons; and Banco Commercial Portuguese in Europe; ABSA Bank Ltd; First National Bank; Marriott Financial Services; Nedcor Bank Ltd. and Standard Merchant & Corporate Bank in Africa; Indusind Bank and National Mercantile Bank in Asia and Bank Muscat, Burgan Bank and Export Finance Bank in the Middle East.

Paul Egan, chief executive officer of FreeStar Technology, said, "For the past two years, we have worked with PLC Partners and we have found that great synergy exists between the two companies. With our current and expected project load, we believe that PLC Partner's expertise in information systems will help facilitate swift integration of FreeStar products with our new and existing banking clients."

Egan added, "We are delighted to have completed this acquisition and we look forward to working closely with PLC Partners' senior management in the coming years."

Neil McGrory, managing director of Project Life Cycle Partners, Ltd., said, "FreeStar Technology is a leader in the payments solution industry and we are a leader in addressing the information systems project needs of financial services companies in different cultures. We are fortunate to join forces with them, thereby enhancing our future competitiveness. The synergy between the companies means that our complementary skills and resources will increase the efficiency and profitability of both organizations in facing the challenges ahead."

About Project Life Cycle Partners Ltd.

PLC Partners is a niche project consulting firm specialising in the management and implementation of Information Systems projects. PLC Partners work closely with its clients, on both new and existing projects, focusing on business strategies and objectives to achieve a successful outcome. PLC Partners was founded by internationally experienced project consultants who have built their reputations through successful project delivery in the financial services sector. Each partner has more than twenty years industry experience managing and implementing projects. PLC Partners provides delivery service in the following sectors: Banking, Telecommunications, Software Vendors, Government and Educational Institutions. For more information, please visit http://www.plcpartners.com

About FreeStar Technology Corporation

FreeStar Technology Corp. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquires in more than twenty countries, our product suite has empowered partners to focus on their core competencies, while our innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. FreeStar Technology has adopted a partnership strategy for growth. Our partners are market leaders in their respective industries. These include IKEA, Finnair and Stockman. Our subsidiaries, Rahaxi Processing Oy, Finland, FreeStar Technologies Ireland, Ltd., and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level our partners can offer customers. For more information, please visit http://www.freestartech.com or http://www.rahaxi.com.

Source: FreeStar Technology Corporation