First Day of Dealings

RNS Number:6517E
Financial Payment Systems Limited
16 June 2006


                        FINANCIAL PAYMENT SYSTEMS LIMITED
                    Placing and Admission to trading on AIM


Financial Payment Systems Limited ("Financial Payment Systems" or "FPS" or "the
Company") announces the commencement of dealings of its ordinary shares on AIM.
Daniel Stewart & Company plc is acting as Nominated Adviser to the Company.


FPS is a Jersey registered holding company of a Group engaged in the
development, integration and management of an electronic payment approval and
authorisation system (described as the "FPS System") which is to be deployed
within the Jiangsu province of China. The Stock Market EPIC will be FPS.L.


Admission & Subscription statistics

   * Placing price per ordinary share: 12p
   * Number of Placing shares issued: 41,666,667
   * Gross proceeds of the Placing: #5.0 million
   * Number of ordinary shares in issue on Admission: 91,666,671
   * Market capitalisation on Admission: #11 million



Key Points

  * The FPS System has been designed and developed for the Group and the
    Group retains the intellectual property rights to the FPS System. The Group
    is currently finalising its implementation plan and expects the roll-out and
    integration to commence in 2006;
  * The FPS System will initially be used for inter-departmental payment
    authorisation by the Jiangsu provincial government. The public sector in
    China represents a significant portion of the economy.
  * The FPS System is a software program that allows a user to initiate an
    electronic payment instruction to their bank. The FPS System routes a
    payment request through the required approval process and then issues the
    resulting instruction for settlement to the bank. It also allows the user of
    the FPS System to manage its relationships with numerous banks;
  * Whilst the FPS System has been designed and built with the initial aim
    of facilitating G2G transactions, such an approval, control and
    authorisation system is also well suited to be utilised by medium and large
    private and state owned companies. These companies also face the same
    payment authorisation problems as the provincial government and its 
    agencies; and
  * Jiangsu has the second largest, and fastest growing GDP of the 34
    Chinese provinces, regions and municipalities at US$186.9 billion in 2004
    with 14.9 per cent. growth over the previous year. Jiangsu is the fifth most
    populous of China's provinces with 74 million inhabitants in 2003.


                                        Ends

Enquiries:

John Ellison Financial Payment Systems Limited     +44 (0) 1276 470 967

Ruari McGirr Daniel Stewart & Company Plc          +44 0)207 776 6550
Marc Young




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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