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Euronet to offer GSM phone vouchers at Czech Republic ATMs

May 18, 2000

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BUDAPEST -- Euronet Services Inc. (Nasdaq: EEFT) inked an agreement with EuroTel, the largest GSM mobile phone service company in the Czech Republic, which will allow consumers to purchase pre-paid mobile phone vouchers at Euronet ATMs in the Czech Republic. The agreement marks the third such undertaking between Euronet and a GSM mobile phone service provider in Central Europe. In 1999, Euronet began offering vouchers for pre-paid mobile phone time to customers of ERA GSM in Poland and Pannon GSM in Hungary. Service in the Czech Republic is scheduled to begin this summer. EuroTel customers will be able to buy several denominations of pre-paid mobile phone vouchers by using their bankcards at 56 Euronet ATMs throughout the Czech Republic. Purchasers' accounts are debited automatically for the voucher only, with no additional transaction fee. Vouchers can be purchased 24 hours a day, 7 days a week. Previously the vouchers were purchased mainly during regular shopping hours at EuroTel outlets and at select retailers, newsstands and post offices Michael Brown, chairman and CEO of Euronet Services, said, "Enabling EuroTel to sell pre-paid phone time at our ATMs is another example of how Euronet is providing a vital link in the development of e-commerce in these countries." EuroTel Praha Ltd. is the Czech Republic's largest wireless service provider, with more than 1,250,000 customers at the end of March. EuroTel's GSM and TIP mobile phone networks cover a territory with 99 percent of the Czech Republic's population, or more than 10 million people.