NetSpend: Industry Experts Discuss Empowerment of the ``Un-Banked''.

AUSTIN, Texas -- National and regional experts and leaders from government, private, non-profit and academia sectors assembled Sept. 24 in Austin for the "All-Access Summit on the Empowerment of the Un-banked." The conference, which attracted more than 100 industry experts, was hosted by NetSpend Corporation, the nation's leading marketer and processor of prepaid debit cards to the un-banked.

"The focus of the summit was to provide a unique opportunity to share ideas and suggest improvements for reaching and educating the un-banked, an often underserved segment," said NetSpend CEO Rick Savard.

Renowned economist and best selling author Hernando de Soto, president of Peru's Institute for Liberty and Democracy, delivered the keynote address. In his speech, Mr. de Soto elaborated on the changing impact of capital on citizens around the globe. Capital is a fundamentally dormant value hidden in people's assets and talents, he explained, and formal systems bring that capital to life. "We need to put systems in place that create solutions to make credit easier and provide education to improve the system for consumers," Mr. de Soto said. "Clearly, the United States has made great steps to address the poor and minorities with laws, including the Homestead Act."

The Summit also featured John Bryant - founder, president and CEO of Operation HOPE, Inc. - who shared his non-profit group's experience empowering lower income communities across America through financial literacy. "There is a difference between being broke and being poor," he said. "Being broke is an economic condition - but being poor is a disabling frame of mind and a depressed condition of the spirit."

As part of the summit, industry experts engaged in two interactive panel discussions focusing on the un-banked. "We were delighted to have had such formidable keynote speakers," said NetSpend president and co-founder Roy Sosa. "Together, Hernando de Soto and John Bryant were able to highlight the challenges and opportunities facing the un-banked from a global and national perspective."

The first panel described the demographics of the un-banked community, as well as its financial habits and need for financial literacy education. According to the Federal Reserve, 26 million households do not have bank accounts, and an additional 40 million individuals either lack a savings account or access to credit cards. Participants from this panel noted that figures on the un- and under-banked are difficult to estimate because many individuals in this segment reside in the United States illegally and go undocumented.

Panelists participating in this panel were Janie Barrera, president and CEO, ACCION Texas; Elizabeth Handlin, marketing and outreach manager, Federal Reserve Bank of Chicago; Barbara Robles, assistant professor, Lyndon B. Johnson School of Public Affairs, University of Texas at Austin; Roy Sosa, president and co-founder, NetSpend; and Margo Weisz, executive director, Austin Community Development Corporation.

The second panel discussed the use of technology in reaching the un-banked and reviewed a number of effective programs, such as Operation HOPE's "Banking on Our Future," the Women's Self-Employment Project in Chicago and the Chicago Fed's MoneySmart Week. From these discussions, financial literacy was singled out as a critical component for program success. Valerie Hayes, acting director, Office of Small and Disadvantaged Business Utilization for the U.S. Department of Housing and Urban Development, agreed that organizations from the public and private sectors must work together to make a difference. Ms. Hayes noted, "Support and partnerships are the single most keys to a successful program."

Other panelists were Viola Bostic, deputy executive director, National Federation of Community Development Credit Unions; Connie Evans, president and CEO, WSEP Ventures, Inc.; Rick Savard, CEO, NetSpend; and Lois Vitt, founding director, Institute for Socio-Financial Studies.

"We are extremely delighted with the success of our first All-Access Summit," Sosa said. "The event brought together an exclusive group of innovative thinkers and leaders committed to the long-term empowerment of the un-banked community. Our goal always has been to raise awareness of the needs of this frequently ignored market segment, and the summit helped us do that. Now we're dedicated to continuing this dialogue and collaboration going forward."

About NetSpend Corporation

Austin, Texas-based NetSpend Corporation is the proven leader for prepaid stored value platforms, offering an end-to-end approach that is unique in the prepaid payments industry. From customer acquisition and communication, retention, distributor integration and training, card fulfillment, portfolio and risk management, regulatory compliance, and world-class customer service, NetSpend offers a complete, end-to-end, vertically integrated product offering that powers the infrastructure for prepaid payment applications. NetSpend's partnerships include agency agreements with the leading companies serving the un-banked and under-banked markets, as well as strategic relationships with card issuers, EFT and payment card associations. For more information, go to www.netspend.com.