E-Monee Continues to Address Electronic Payment Mandate

E-Monee.com, Inc. (E-Monee) (Pink Sheets:EMNC) previously announced that the government of Dubai had placed a mandate on all construction companies to have all expatriate workers on an electronic payment system by January 2008. This mandate has been extended to later in 2008, and E-Monee continues efforts to implement its systems in order to meet the extended deadline. Recently, his Excellency Dr. Ali bin Abdulla Al Ka'abi, UAE Minister of Labor, announced that the Ministry of Labor has been pushing for a service offering that provides a global financial service customized for the expatriate workers through various US companies. His Excellency Dr. Ali bin Abdulla Al Ka'abi said that, “We are happy to be working with US companies to provide all UAE employers and expatriate workers a secure, affordable, easy to use product. This will result in financial inclusion of the large under-banked population, which is certainly the need of the hour.” In addition to meeting the current mandate, E-Monee’s objective is to roll out this solution to all GCC countries, to enable the entire expatriate workforce servicing that area to benefit from this convenient and cost-effective technology, as far as securing their salaries and moving their money is concerned.

The Ministry of Labor has been charged with implementing the government's mandate for employers to pay all salaries including those of low-income, 'blue collar' workers through the banking channels. Today, most banks find it difficult to profitably service such low-value accounts and impose minimum monthly balance requirements or charge heavy fees to cover their operating expenses. With E-Monee, employers will be able to credit salaries to workers' accounts automatically. These workers will be able to access hundreds of ATMs and thousands of Point-Of-Sale units at very nominal costs and with no minimum monthly balance requirements. In addition to this, they will be able to remit funds back home in a method that is cheaper, safer and more convenient than current alternatives. His Excellency Dr. Ali bin Abdulla Al Ka'abi added that, “According to the International Monetary Fund, migrant workers remit about $350 billion each year, 20% of which comes from the Gulf, making us the second largest source of funds after the United States. But because this represents millions of small value transactions, usually less than 1000 AED per remittance, most banks cannot profitably compete with the unofficial 'Hawala' and 'Hundi' markets." With our solution, we will be able to offer consumers a more cost-effective and secure alternative. Also, our network of strategically placed technologies, including multi-lingual call centers, provide a platform to enable our global technology to be implemented to first-time users who may not be as educated or confident when it comes to remitting funds or using other banking services. In addition to this, our agents will be placed in the labor camps and work sites to assist workers with using this service.

About E-Monee

E-Monee is a Florida based company with its core product being a hybrid which integrates technology and global telecommunications with banking (www.E-Monee.com). The result is a Global Electronic Treasury System which facilitates the instantaneous and affordable collection, movement, disbursement and deposit of funds for individuals and companies located worldwide. Within the dynamic electronic payments arena E-Monee is penetrating untapped niche markets which are in need of replacing cash, checks and antiquated systems. E-Monee's proprietary systems deliver a business model that allows E-Monee to meet the demands of our niche markets.

Considering that E-Monee is dynamically driven to specifically adapt to particular market demands and thrives to be the first mover within several niche industries, our goal is to define accessible and profitable markets with best potential for growth. As the “New Online Payment Gateway,” the company’s mission is to manage a significant portion of the world’s non-bankable deposits and transactional volumes. E-Monee’s business model is dynamically driven to specifically adapt to each customer depending on the internal requirements and specific industry demands. As a first mover within several niche industries, our goal is to define how accessible, actionable, and profitable each opportunity is and to choose the ones with the best potential for growth. E-Monee measures these criteria by the competition, barriers to entry, depth of investment, projected turnover and profit margin.

At the company’s core, E-Monee has developed a proprietary secure, modular banking engine that supports all levels of client customization, account and cardholder management, payment and fees management and other vital functionalities and services for our clients around the world. Additionally, the platform is complemented by robust user and management Web-based interfaces offering batch and web services to generate accounts, order card issuance, execute disbursement of funds, perform risk management and request financial reporting functionalities. E-Monee also owns and fully operates a private IP network of ATM and POS machines to offer its clients a truly global solution. The flexibility the E-Monee banking engine possesses allows seamless integration of banking institutions globally. E-Monee hand picks its banking partners depending on region, business model and product offering. HSBC (Hong Kong Shanghai Bank Corporation) is our global strategic bank partner. As a result of several contractual agreements with HSBC, the partnership extends across borders and ranges in product offerings. The partnership highlights each company’s core competencies to deliver superior business offerings which build a true competitive advantage within the payments industry. E-Monee is a member service provider as an issuing processor of affinity programs for cards bearing the VISA and Electron payment marks under HSBC Panama’s association membership.

E-Monee’s founding group continues to lead the vision and direction of the company. The group is integrated by an active line of experience within the banking, information technology, telecommunications and payments industries. The company’s vision is to build shareholder value by delivering new, alternative payment solutions that contribute to the global economic development while maintaining the highest compliance standards. By accomplishing this, E-Monee benefits from transactional income and longer duration of float balances on deposit – “accounts settled not yet paid.”

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. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.