Sale of Saudi licence

RNS Number:2393D
Bartercard plc
19 May 2006

Bartercard Plc

("Bartercard" or "the Company")



Sale of Saudi Arabia licence



Bartercard has sold the licence for Saudi Arabia. The licence was sold for
US$500,000 cash to Sheik Jaber bin Hamad bin Jassem Al Thani, the holder of the
licence for Qatar and a member of the Qatari Royal Family. The licensee for
Dubai will also be a major partner in the Saudi operation.



Bartercard already has licences operating in Jordan, Lebanon, Egypt, Kuwait and
the UAE as well as Cyprus and Turkey, nearby.



Training for the foundation management team for this new licence and
commencement of operations is expected within the next 6 months.



Wayne Sharpe, Chairman of Bartercard, commented:



"I am delighted that the owner of the Qatar licence has enjoyed such success
there that he has bought the licence to Saudi Arabia. This brings his investment
in the two licences to $900,000, plus working capital. The Qatar operation was
the top of Bartercard International's sales and 3rd in the trading competition
last month.



There are many Saudi businessmen operating and living across the Gulf region,
and in the UK. We believe the establishment of an operation in Saudi Arabia
should boost Bartercard operations in the Middle East region as a whole."



                                                                     19 May 2006



Enquiries


Bartercard plc
Wayne Sharpe, Executive Chairman                         07909 975488

College Hill                                            020 7457 2020
Richard Pearson
Roddy Watt




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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