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PRESS RELEASE FSRT Update on FreeStar Technology Corp. Conference Call - Note Day & Time Change

Friday, June 27, 2008 7:57 AM

From:
"FreeStar Technology Corporation" <[e-mail]>
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Wednesday June 25, 12:05 pm ET



Update on FreeStar Technology Corp. Conference Call - Note Day & Time Change

CEO Paul Egan will host conference call on July 8, 2008.

DUBLIN, Ireland, June 25 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced that it has completed the process to change its name to "Rahaxi, Inc." FreeStar's Board of Directors has approved a proposed amendment to FreeStar's Articles of Incorporation to change its name to Rahaxi, Inc. The Board of Directors has recommended that the name change amendment be adopted by the shareholders of FreeStar and directed management to take appropriate action to obtain shareholder approval of the name change amendment.

The official name change which began its process back in July of 2007 comes on the heels of FreeStar's Board of Directors' approval of a three to one reverse stock split of the Common Stock. Both changes of the name and the reverse stock split are subject to approval by FreeStar's stockholders and will require an amendment to FreeStar's Articles of Incorporation. The Board of Directors has authorized and directed the officers to take all required actions to solicit the approval of the stockholders, including filing preliminary and definitive proxy statements with the Securities and Exchange Commission.

FreeStar's CEO Paul Egan will host a conference call on Tuesday, July 8, 2008 at 11am eastern daylight time. Please use call in number USA/Canada Toll Free 800.914.8405 or 647.723.6919. Use Conference Access Code: 5533037. If you are calling from a country other than USA/Canada, please log on to http://www.conferencecalls.com/executive/accessnumbers.asp for international numbers.


ABOUT FREESTAR TECHNOLOGY CORPORATION



FreeStar Technology Corp. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. FreeStar Technology has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its subsidiaries, Rahaxi Processing Oy., Finland; FreeStar Technologies Ireland, Ltd.; and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level its partners can offer their customers.
For more information, please visit http://www.freestartech.com or http://www.rahaxi.com.


FORWARD-LOOKING STATEMENTS



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. When used in this press release, the words "expects," "anticipates," "believes," "plans," "will" and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include, but are not limited to, statements regarding our adequacy of cash, expectations regarding net losses and cash flow, statements regarding our growth, our need for future financing, our dependence on personnel, and our operating expenses. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, those discussed above as well as risks set forth above under "Factors That May Affect Our Results." These forward-looking statements speak only as of the date hereof. 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. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The companies caution that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in FreeStar's Form 10-KSB filing and other filings with the U.S. Securities and Exchange Commission (available at www.sec.gov). FreeStar undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.


FOR MORE INFORMATION, PLEASE CONTACT:



FreeStar Technology Corporation:
Mr. Paul Egan
President &CEO
Tel: [phone]
E-mail: [e-mail]

Rahaxi Processing Oy:
Dr. Jose Enrique Perez
Managing Director
Tel. [phone]
E-mail: [e-mail]

SOURCE: FreeStar Technology Corporation.



Copyright FreeStar Technology Corporation. All rights reserved.

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