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Euronet Worldwide Launches ATM Recharge Services for Hungary's Largest Mobile Operator.

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BUDAPEST, Hungary & LEAWOOD, Kan.--(BUSINESS WIRE)--Feb. 5, 2002

Euronet Worldwide, Inc. (Nasdaq:EEFT), a leading provider of secure electronic financial transaction solutions, has announced the launch of Euronet ATM Recharge for Westel Mobile Telecommunications Company Ltd., Hungary's largest mobile operator and the second provider to implement Euronet's prepaid airtime solutions for GSM network subscribers.

Users of Westel's 'Domino' prepay service can now automatically add airtime minutes to their mobile phone accounts 24 hours a day, 7 days a week at any one of 370 Euronet-branded ATMs across Hungary. With Euronet ATM Automatic Recharge, the mobile operator gains a larger airtime recharge coverage area with additional distribution points for its prepaid subscribers. By selling airtime through this electronic delivery channel, Westel also reduces airtime distribution costs and eliminates scratch-card inventory.

With more than 2.5 million subscribers, Budapest-based Westel Mobile is the largest mobile operator in the Hungarian market and the first to offer a commercial GPRS service. Westel is also the first provider in Hungary to offer Euronet ATM Automatic Recharge services to its customer base, which eliminates the step requiring the user to enter a code from an ATM-printed voucher to complete the transaction.

"With Euronet's ATM Recharge solution, Westel will incorporate a strategic element to our prepaid delivery program," said Andras Sugar, President of Westel Mobile. "The real competition in the mobile market is about which service provider will be able to offer more convenient and more immediate solutions to their customers. Euronet enabled us to provide this automated delivery service in a quick-to-market solution."

Euronet ATM Recharge is one of multiple recharge options available from Euronet. Euronet Recharge solutions have been deployed by both mobile operators and financial institutions in Europe and the Middle East, using touchpoints such as POS devices, ATMs, the Internet and mobile phones. These comprehensive airtime recharge outsourcing solutions are processed through the Euronet Operating Center in Budapest, Hungary.

"More than 50 percent of mobile phone subscribers in Europe use prepaid services," said Daniel R. Henry, Euronet Worldwide President and Chief Operating Officer. "This partnership with Westel Mobile solidifies our leadership presence as a service provider in Hungary's mobile operator market. The Euronet ATM Mobile Recharge product clearly demonstrates our commitment to innovation and to customer-focused solutions for Europe's mobile operators."

About Euronet Worldwide

Euronet Worldwide is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. These solutions enable their customers to access personal financial information and perform secure financial transactions -- any time, any place. The company has processing centers located in the United States, Europe and Asia, and owns and operates the largest independent ATM network in Europe. With corporate headquarters in Leawood, Kansas, USA, and European headquarters in Budapest, Hungary, Euronet serves more than 200 clients in 60 countries. Visit our web site at www.euronetworldwide.com.

About Westel Mobile

Westel Mobile Telecommunications Company Ltd. (Westel Mobil Rt.), established in 1993, is a subsidiary of Deutsche Telekom. In January 2002 the company became the first Hungarian mobile service provider to reach 2.5 million revenue-producing customers. In 2001, Westel received international recognition as a top subsidiary of Deutsche Telekom and as a prizewinner in the large business category at the European Quality Awards.
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Publication:Business Wire
Date:Feb 5, 2002
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