INSUREANDGO PREPAID CARD PROGRAM WINNER OF TWO AWARDS AT 2008 PAYBEFORE AWARDS AND SHORTLISTED FOR FST AWARD

07 MARCH 2008, LONDON (www.AllPayNews.com) - Altair Financial Services International Plc, a leading prepaid card and transaction processing services provider, and Raphaels Bank, specialist prepaid card issuing bank, announced today that the InsureandGo Prepaid Travel Card program has been selected as a winner of two awards at the 2008 Paybefore Awards.

In June 2007, leading travel insurance company InsureandGo enhanced its conventional offering by providing its customers with a prepaid card on to which it could pay insurance claims whilst its customers were still overseas on holiday. This speeds up the processing of claims and is more convenient for customers, as they can use the money to replace lost items (such as luggage) immediately. The product delivers simple, easy-to-use customer-focussed benefits, as well as excellent foreign exchange rates and comparatively low fees.

The InsureandGo Prepaid Travel Card was selected as a winner of the Best Consumer Card Program and Best Claim Card at the Paybefore Awards, held on March 4 in Las Vegas as part of the 2008 Prepaid Card Expo.

Lee Britton, Altair CEO, commented, “We are honoured to be a winner at this year’s Paybefore Awards. The InsureandGo Prepaid Travel Card is a unique and exciting card program. We were delighted to deliver a solution which creates added value and provides a great new experience for InsureandGo customers. It’s always a pleasure to receive recognition for the innovative technology and card programs Altair has created.”

Mike Smith, Director at Raphaels Bank commented, “This was a great program to work on with InsureandGo and Altair. InsureandGo’s reputation for innovation was enhanced through this Card Program and Altair demonstrated yet again that they have excellent systems and development timescales in leading this project. We were pleased to be able to respond rapidly to get the program up and running for the summer season, particularly resolving the issues around the upgrading process from payout to a full travel card proposition. Obviously we’re delighted and honoured to be the issuer of this award-winning card.”

Perry Wilson, managing director of InsureandGo, said, “At InsureandGo we are constantly looking to provide innovative products that enhance the already excellent levels of customer service we are famous for. Our Prepaid Travel Card has allowed us to offer a vastly more convenient system of paying claims to our customers, so they can make use of the payment while they are overseas rather than waiting to be reimbursed when they return home. This has been particularly important given the rise in claims for lost luggage in 2007 – a problem we fear will only continue to get worse.”

Paybefore, publisher of Paybefore Update and other publications for the prepaid and stored value card industry, produces Paybefore Awards annually. “The winners, three in each category, represent outstanding achievement in their respective fields,” says Marilyn Bochicchio, president of Paybefore. “This year’s nominations were remarkable for the quality of the products, services and programs they represent, and every category was extraordinarily competitive.”

Altair Mobile Payment System (AMPS), the unique SMS technology introduced by Altair, has also been shortlisted for the Best Payments Deployment Award at the Financial Services Technology (FST) Awards to be held on 27 March 2008 at the Royal Lancaster Hotel in London. AMPS has already been successfully deployed on several prepaid card programs created and managed by Altair. The system adds value to client card programs and furthermore, provides cardholders with flexibility and accessibility to easily manage their funds, via their mobile phone.

The InsureandGo Prepaid Travel Card program has also been shortlisted for the Best use of IT in Insurance category at the FST Awards for its utilisation of advanced payments technology, providing a prepaid card that serves a dual function – travel FX and insurance claim payouts.

About Altair Financial Services International Plc

Altair Financial Services International Plc was incorporated in 2005 as a global provider of Prepaid Card solutions with enhanced functionality. Altair acquired established transaction processing company, Symmetrex, Inc. in March 2007. Altair is headquartered in London with banking and processing relationships in UK, USA, Asia Pacific and throughout the Latin America and Caribbean regions and issues on behalf of MasterCard® and Visa.

Altair solutions are designed to be flexible enough to provide companies with almost any type of prepaid card functionality, including open and closed loop programs. Through its relationship with MasterCard® all Altair cards issued in Europe are based on Chip & PIN technology and are EMV standards compliant. Altair is a certified issuer and transaction processor of contactless (MasterCard® PayPass™) prepaid cards in the United Kingdom. For more information, visit www.altair-financial.com.

About Raphaels Bank

Raphaels Bank is one of the oldest independent banking houses in the UK, established in 1787. The Bank is authorised and regulated by the Financial Services Authority, ensuring the Bank maintains the highest standards of integrity and security. The Bank is a leading player in the emerging prepaid debit card market and is a principal issuing and acquiring member of MasterCard and VISA.

Acting as a sponsor bank, Raphaels Bank offers opportunities to companies that wish to launch prepaid card programs in the UK and other European countries.

About InsureandGo

InsureandGo was established in 2000 and has grown rapidly to become the UK’s largest direct travel insurance specialist. Over two million holidaymakers a year choose to cover their travels with its low cost, high value policies.

All InsureandGo policies cover children under 18 for free and include over 40 adventure sports, while its annual policies include winter sports automatically.

For further information, please contact:

Altair Financial Services International Plc.

Steven Phillips on +44(0) 20 7659 1178 or email steven.phillips@altair-financial.com