5/8/2006

THYRON SYSTEMS LTD. AND PLANET PAYMENT® ANNOUNCE PARTNERSHIP AGREEMENT

Dynamic Currency Conversion to be added to Thyron's processing solutions

Thyron Systems Ltd. and Planet Payment, a leading multi-currency payment processor, announced today their partnership to offer dynamic currency conversion (DCC) in Thyron’s PayCell MPT500 mobile terminal. Merchants using the PayCell MPT500 will be able to offer their international customers the comfort and convenience of seeing and paying for their transactions in the currency they understand the best – their own.


This new DCC offering will be available for retail and restaurant locations, and will enable internationally focused merchants to offer foreign cardholders using Visa or MasterCard branded cards the option of paying for their purchase in their home currency or in the merchant’s currency. The first phase of the Thyron and Planet Payment agreement will include rolling out the DCC-functional MPT500.


Philip D. Beck, CEO of Planet Payment, said, “We are excited to partner with a company that shares our passion for innovation in the payment industry. We look forward to doing great things with Thyron and their internationally focused merchants.”

“As developers of one of the first portable credit/debit card transaction terminals, Thyron has always been on the forefront of creating innovate, cost-effect payment solutions,” said Michael Ault, Chief Executive of Thyron. “We see DCC as a great service for international travelers that is gaining popularity around the world. We’re delighted to announce our partnership with Planet Payment to create a better payment experience for the international cardholder, and to bring a new revenue opportunity to our clients.”


Thyron Systems Ltd., a UK-based company with an established pedigree in the mobile payment sector, specialises in the creation and development of cost effective payment solutions to businesses in the retail, hospitality and transportation space. Thyron is an independent privately owned company, which has increased its presence in several mainland European territories in recent years. Thyron has worked with the major UK and Irish acquiring banks during the recent roll out of Chip and Pin in both locations. Further information on Thyron Systems can be found at www.thyron.com


Planet Payment is the trade name for Planet Group, Inc [LSE:AIM: PPTR and PPT for restricted and unrestricted shares respectively]. Further information on Planet Payment can be found at: www.planetpayment.com


Planet Payment is a multi-currency payment processor, enabling processors, acquiring banks and their merchants to accept, process and reconcile credit card transactions in multiple currencies, and allowing international cardholders to view prices and settle transactions in their native currency when travelling abroad. Planet Payment’s systems also enable it to provide enhanced data reporting and data mining to merchants who are using multiple systems in different countries.


The Planet Payment business was established in 1999 and Planet Group, Inc. is listed on the AIM market of the London Stock Exchange. Planet Payment is headquartered in New York and has offices in Atlanta, the United Kingdom, Singapore and Hong Kong.


Information contained in this announcement may include ‘forward-looking statements’. All statements other than statements of historical facts included herein, including, without limitation, those regarding Planet Payment’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Planet Payment’s business) are forward-looking statements. Such forward-looking statements are based on a number of assumptions regarding Planet Payment’s present and future business strategies and the environment in which Planet Payment expects to operate in future, which assumptions may or may not be fulfilled in practice. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors, including the risk that implementation, adoption and offering of the service by merchants may take longer than anticipated, or may not occur at all. These forward-looking statements speak only as to the date of this announcement and cannot be relied upon as a guide to future performance. Planet Payment expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any change in events, conditions or circumstances on which any statement is based.