The Rt Hon Michael Howard QC MP appointed as Chairman of Luup Ltd

5 Aug 2009

Luup Ltd, an independent provider of global mobile financial solutions, has announced the appointment of the Rt Hon Michael Howard QC MP as Chairman of Luup Ltd.

The Rt Hon Michael Howard QC MP, said "It is extremely exciting to have the opportunity to play a part in the growing success of a dynamic company such as Luup. Companies with high growth potential are key to economic recovery, and I believe that Luup is poised to become a key player in the global mobile payments business. Over the last few weeks I have got to know the business, as well as the team, and I am looking forward very much to these new challenges:"

Thomas Bostrøm Jørgensen, Chief Executive of Luup, said: "Michael has tremendous experience and expertise to offer any company and we are honoured that he has agreed to be our Chairman. The use of the mobile phone to conduct financial transactions is on the cusp of becoming as widespread as online banking is today. The next 12-18 months will be critical to Luup's success and Michael's advice and guidance as chairman will be invaluable."

Michael Howard held several Cabinet positions in the administration of Margaret Thatcher and John Major, including Home Secretary from 1993 to 1997. He was leader of the Opposition from 2003 to 2005.

Mr Howard is retiring from Parliament at the forthcoming General Election and is developing an international business career. He is Chairman of Northern Racing Ltd., Deputy Chairman of Entrée Gold, Inc. and a Non-Executive Director of Helphire Group plc.

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Notes to Editors

Luup Ltd
Luup is an independent global provider of mobile payment services, systems and infrastructure, enabling a wide range of payments to be initiated and managed from a mobile phone. The company specializes in offering payment processing, mobile payment interfaces and virtual mobile phone accounts.

Luup provides the mobile payment platform for the National Bank of Abu Dhabi's Arrow mobile payment service. Further information about the Arrow service can be found at arrow.nbad.com

Launched in Norway in 2002, and with operational experience in three European markets, Luup is partnering with banks and financial institutions around the world to create a global mobile payment network. Luup is a privately owned company.

Luup's service enables financial institutions to offer:

• convenient and secure methods for customer to make bill payments, merchant payments and money transfers while on the go
• virtual accounts from which previously unbanked customers can withdraw their salaries in cash and remit money home to their families
• electronic payroll solution to those companies wishing to reduce costs and increase security while serving their unbanked employees a service that is able to work with any mobile phone operator and on any mobile phone device

About the Rt Hon Michael Howard QC MP
Michael Howard held several Cabinet positions in the administration of Margaret Thatcher and John Major, including Home Secretary from 1993 to 1997. He was leader of the Opposition from 2003 to 2005.

Mr Howard is retiring from Parliament at the forthcoming General Election and is developing an international business career. He is Chairman of Northern Racing Ltd., Deputy Chairman of Entrée Gold, Inc. and a Non-Executive Director of Helphire Group plc.

For further information on Michael Howard's political career please visitwww.michaelhowardmp.com.