Eposs takes majority stake in Cardmaxx

London/Munich, October 2003 - Eposs Limited - the Western Union-owned UK market leader in electronic product delivery and payment solutions for the mobile top-up, entertainment and services market - announced the purchase of a majority stake in Munich-based Cardmaxx AG, a leading provider of electronic voucher-based airtime top-up services in Germany.

Terms of the transaction were not disclosed. Cartagena Capital GmbH acted as advisor to Getmobile AG (Munich), the former parent company and majority owner of Cardmaxx AG. Daniel Wild, CEO of Getmobile AG, commented on the transaction: "We got to know Cartagena as a very proactive advisor. They made the deal happen through their in-depth industry knowledge and excellent global network to find a world-class partner for Cardmaxx." Getmobile AG is a fast growing direct sales company selling GSM and consumer electronics products through Internet and TV-shopping channels.

The purchase will enable Eposs and Cardmaxx to exploit new opportunities in Germany for electronic pre-pay solutions for retailers - including e-voucher based retail sales of airtime top-ups, mobile entertainment content and other mobile services.

Cardmaxx already has direct relationships with key retail distribution and banking terminal partners in Germany. As part of the Eposs Group, Cardmaxx will be able to complement its airtime services by offering these partners a comprehensive range of electronic products - including ringtones, logos, mobile phone games, full-colour wallpapers, celebrity picture messaging and SMS alert services.

These electronic products will be sold in-store through stand-alone credit card acquiring terminals, as well as through advanced multimedia vending machines or integration with retailers’ existing point of sale systems.


About Cartagena Capital

Cartagena Capital GmbH is the pre-eminent financial/strategic advisory and investment firm exclusively focussed on the wireless industry. Cartagena has brought together some of the leading experts in mobile telecommunications with investment bankers and the transactional know-how required for successfully completing principal investments, fundraisings as well as mergers & acquisitions. From its headquarters in Munich, Germany, Cartagena Capital has developed a global approach through presence in the UK, the Netherlands, the US and Singapore. For more information: www.cartagena-capital.com

For more information, please contact:

Falk Müller-Veerse: Tel.: +49 89 242 111 13