Freestar Technologies (fka FSTI)

[Tommy]

PR NEWSWIRE) Freestar Technologies And La Nacional De Envios Announce Offici
Freestar Technologies And La Nacional De Envios Announce Official Grand Opening
Of 'Cybercafe' In Washington Heights District In New York City

New York-Based Dominican Republicans Now Afforded Secure Virtual One-Stop
Shopping and Money Wiring On The Internet With ATM Or Debit Cards

Venture Represents Freestar's Entrance Into $1.6 Billion
U.S./Dominican Republican Money Transfer Industry

NEW YORK, April 3 /PRNewswire-FirstCall/ --
Freestar Technologies, Inc. (OTC Bulletin Board: FSTI), a multi-national
company providing the world's first live and operational ATM cash payment
technology on the Internet, and La Nacional de Envios, the leading public
payment system in the Dominican Republic, will today host the official Grand
Opening of "La Nacional Cybercafe," located at 566 West 207th Street in the
Washington Heights district in New York City, an area that boasts the largest
concentration of Dominican Republicans in the Northeast. The Grand Opening is
by invitation only; all invitees will be entitled to 15 minutes of free
Internet access during the Grand Opening festivities.
The La Nacional Cybercafe, which will open its doors today at 5:00 P.M.
Eastern Standard Time, features a bank of computer terminals that have been
outfitted with Freestar's revolutionary PaySafeNow system. Using the
PaySafeNow system's proprietary card reader, the "ePayPad," Cybercafe
customers may enjoy virtual one-stop shopping directly from popular retail
stores located in the Dominican Republic via the www.epaylatina.com web site.
In addition, the ePayPad will permit customers to use their PIN-authenticated
ATM and debit cards to securely and economically transfer money locally or to
friends and relatives living in the Dominican Republic or elsewhere around the
world. According to the Dominican Republic's central bank of record, over
US$1.6 billion is presently transferred from the United States to the
Dominican Republic annually.
In accordance with its contractual agreement with La Nacional, Freestar
will receive a transactional revenue fee from each PaySafeNow transaction
originated at the Cybercafe. Paul Egan, Chief Executive Officer of Freestar,
noted, "La Nacional's first U.S.-based Cybercafe represents a significant
opportunity for Freestar to demonstrate our system's ease-of-use, global
capabilities and technical functionality in the United States. However, it
also represents an important and progressive business opportunity to stimulate
the local economy and provide an entire community with cost-efficient access
to the Internet. We are very excited to be playing such a vital role in La
Nacional's planned national roll-out of Cybercafes and look forward to sharing
in the long term success of this important undertaking."
As previously announced, La Nacional de Envios will deploy the PaySafeNow
system throughout its network of 24 branches in New York, Spain, Puerto Rico
and Venezuela and through 300 affiliated agencies located in the United
States.

About La Nacional de Envios
La Nacional de Envios, part of Grupo Caribe, which was established in
1980, is one of the leading and most reputable public payment systems in the
Dominican Republic. There are 24 branches strategically located in New York,
and 300 agencies established throughout the United States of America. La
Nacional de Envios also operates branches in Spain, Puerto Rico and Venezuela.
The Company is not only involved in international money transfers, but is also
actively involved in the local market. Grupo Caribe currently employs over
300 people in 50 offices throughout the Dominican Republic.

About Freestar Technologies, Inc.
With corporate headquarters in New York City, and continental headquarters
in Santo Domingo, Dominican Republic and Dublin, Ireland, Freestar
Technologies is focused on exploiting a first-to-market advantage for enabling
ATM and debit card transactions on the Internet.

Freestar Technologies' Enhanced Transactional Secure Software ("ETSS") is
a proprietary software package that empowers consumers to consummate secure e-
commerce transactions on the Internet using credit, debit, ATM (with PIN) or
smart cards. The ETSS system integrates a consumer-side card-swipe terminal
with a back-end host-processing center. It encrypts sensitive financial data
at the consumer's personal computer, using powerful DES encryption and
algorithms. It sends an authorization number to the e-commerce merchant,
rather than the consumer's credit card information, to provide a maximum level
of security. The Company plans to link several large, established smart card
systems together on an ETSS-based standard to achieve economies of scale and
enhance market penetration for this secure e-commerce payment system. For
more information, please visit the Company's Web site at www.freestartech.com

Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act of 1933
and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to
the safe harbor created by those rules. All statements, other than statements
of fact, included in this release, including, without limitation, statements
regarding potential future plans and objectives of the company, are forward-
looking statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in such
statements.

FOR MORE INFORMATION, PLEASE CONTACT:
AT THE COMPANY
Cynthia Aadal, Director of Strategic Sales and Business Development
917-593-5990 or via email at [e-mail]

FOR FINANCIAL AND MEDIA RELATIONS
Jennifer Pelczarski, Elite Financial Communications Group (West Coast)
480-281-1493 or via email at [e-mail]
or
Stephanie Noiseux, Elite Financial Communications Group (East Coast)
407-585-1080 or via email at [e-mail]

MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X75328387

SOURCE Freestar Technologies, Inc.
-0- 04/03/2002
/CONTACT: Cynthia Aadal, Director of Strategic Sales and Business
Development, Freestar Technologies, Inc., [phone], or email,
[e-mail]; or Financial And Media Relations, Jennifer
Pelczarski, Elite Financial Communications Group, (West Coast),
[phone] or email, [e-mail]; or Stephanie Noiseux, Elite
Financial Communications Group (East Coast), [phone] or email,
[e-mail]/
/Web site: http://www.freestartech.com /
(FSTI)

CO: Freestar Technologies, Inc.; La Nacional de Envios
ST: Florida, Dominican Republic
IN: CPR OTC FIN MLM
SU: JVN HSP


*** end of story ***