Because of the rising South African Rand in US dolllar terms, we can expect at least an increase of 10% (Rand was 8.2 USD in June, now 7.44 USD)in USD terms.

And it looks like the trend is still upwards, which should bode very well for the upcoming results for UEPS...

For Iraq, management is very hopeful for big future contract.

Their JVs in Namibia and Botswana, Colombia and Vietnam will continue to grow inline with their expectations and are beginning to deliver on their Phase II expansion plans. They have also issued cards in Nigeria and Malawi.

In Russia, State Bank has subsequently asked us to expand the palette to additional provinces and UEPS will possible be able to create a national payment system in Russia !

In terms of new technologies, Their VCC Solution completed proof of concept with live demonstration taking place in the fourth quarter of 2009. So they have now a pipeline of opportunities, for which they expect at least a few interesting contract in the near term.

So a lot of opportunities for UEPS and so lot of upside potential for the results and for the share price of this stock !

GM.