6/21/2006

PLANET PAYMENT ANNOUNCES THE EXTENSION OF THEIR CONTRACT WITH HUMBOLDT MERCHANT SERVICES


Humboldt Merchant Services to offer Planet Payment's Multi-Currency Processing services through 2011

Planet Payment (LSE:AIM: PPTR and PPT for restricted and unrestricted shares respectively), a leading multi-currency payment processor, and Humboldt Merchant Services (HBMS) announced today that they have extended their multi-currency processing agreement through 2011. Under the agreement, Planet Payment will provide Dynamic Currency Conversion and Multi-Currency Pricing solutions for Humboldt Merchant Services. The two companies started working together in July, 2003.


Humboldt Merchant Services offers its merchants Multi-Currency Processing services designed and built by Planet Payment, featuring Multi-Currency Pricing. This service allows e-commerce merchants to customize their websites for international customers by setting their prices in foreign currencies while still receiving settlement and reporting in US Dollars. HBMS also offers Planet Payment's Dynamic Currency Conversion, which lets merchants keep their pricing in dollars and offer international Visa and MasterCard cardholders the option to pay in their home currency, in real-time at the point-of-sale.


Commenting on the agreement, Ken Musante, President of Humboldt Merchant Services, said:


"We are delighted to extend our agreement to offer Planet Payment's Multi-Currency Processing Solutions. We look forward to identifying new opportunities to offer personalized pricing to our merchants and their international customers, who appreciate the certainty and convenience of paying in their own currency."


Philip Beck, Chairman and Chief Executive of Planet Payment, said:


"We are excited to be able to build on our relationship with Humboldt Merchant Services, and to work with them through at least 2011. We will continue to help Humboldt Merchant Services offer their merchants more and better opportunities to serve international customers."


Planet Payment is the trade name for Planet Group, Inc. (LSE:AIM: PPTR and PPT).


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 traveling 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 the United Kingdom, Singapore and Hong Kong.


Humboldt Merchant Services can facilitate the processing of Visa, MasterCard, Discover, American Express, JCB and debit cards. Humboldt Merchant Services helps businesses increase their sales by increasing the purchasing power of your customers. With state-of-the-art products and services we assist a wide range of merchant types in accepting credit cards. We have expertise in retail,restaurant, motel/hotel, internet businesses, MOTO, New Businesses and Home Based Businesses. For more information, please visit our website at www.hbms.com.


Forward-Looking Statements. 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.