Neteller stops online gambling transactions for Canada

A press release by Neteller today is informing its customer base that the group will no longer allow Canadian and Turkish residents to conduct financial transactions with online gambling websites. The cease for Canada citizens will be in effect on Monday 9 April, 2007, and InstaCash transactions to and from online gambling sites is effective immediately today, 03/26/2007. According to Neteller, funds of Canadians are secure and will be available for withdrawal on demand.

Neteller admits that the lost of Canadian business will have negative material impact on its financial standings for 2007, however, at this time there are no plans for further reducing the staff of the company. Neteller PLC stock still remains suspended from trading on London's AIM.

03/26/2007