Press Release

Year 2008 / Wednesday May 7, 9:30 am ET

FreeStar Technology Corp's Rahaxi Processing Oy Launches Multi-Currency Enabled IP Solution in Denmark

Major Milestone Achieved; Transactions and Deployment in Three Major European Hubs: Spain, Iceland and Denmark

HELSINKI, Finland, May 7 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced that its Finnish-based, wholly-owned subsidiary, Rahaxi Processing Oy has successfully launched its Multi-Currency cross border solution in Denmark. The current clients benefiting from FreeStar's cross border offering are Copenhagen Souvenirs, B&O and Gullachsen, which will expand Freestar's cross border offering roll-out to several hundred locations in Denmark. The IP solution is part of FreeStar's overall expansion and strategic investment strategy that encompasses the wider European area and will serve to strengthen its footmark as a genuine cross border payment solutions provider. Through its partner in Denmark, CTcoin, FreeStar expects to maximise the revenue potential to be earned in this lucrative market.

Paul Egan, CEO of FreeStar, says, "This opportunity represents our move into the European payments landscape. Our cross border initiatives are aggressive and continue to build on our success in Spain, Iceland and now Denmark. CTcoin is a strategic partner for us, considering their vast knowledge of the Scandinavian market, in particular the Danish market. They are an established player in Denmark and by partnering with them, FreeStar's plans of expansion in the region are well supported as we move forward."

CTcoin said, "We are very pleased to be supporting FreeStar in the Danish market and we will enjoy a fruitful relationship as we move forward in other markets. We plan to grow with FreeStar not only in Denmark but in other markets where we have a presence. All in all it is an exciting time for CTCo to be partnering a global player such as FreeStar."

About CTcoin

CTcoin has evolved from a small family owned business in the seventies to becoming one of today's leading suppliers of cash handling products. CTcoin is an established company with more than 70 employees and is exporting through a network of distributors to more than 40 countries around the world. In Denmark, CTcoin has evolved to becoming a large competitor in the market of credit card terminals, paper rolls and other cash handling products for the banking and financial sector, detail stores and for the hotel and restaurant industry. CTcoin is the only company that offers 24 hours countrywide service and support. For more information, please visit http://www.ctcoin.com.

About FreeStar Technology Corporation

FreeStar Technology Corp. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its 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. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its 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 its partners can offer their customers.
For more information, please visit http://www.freestartech.com and http://www.rahaxi.com

Source: FreeStar Technology Corporation