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PRESS RELEASE

Year 2005 / Thursday July 14, 6:00 am ET

FreeStar Technology Retains Stern & Co. to Provide Investor and Media Relations Counsel

HELSINKI, Finland, July 14 /PRNewswire-FirstCall/ -- FreeStar Technology, Inc., (OTC Bulletin Board: FSRT - News), an international payments processor, today announced it has retained New York-based Stern & Co. to provide an investor relations program. Founded in 1993, Stern & Co. is a leading New York-based full-service communications firm that designs and implements investor relations and media communications campaigns for publicly traded companies, private companies and financial institutions. The firm's West Coast office is located in Los Angeles.

Paul Egan, chief executive officer of FreeStar Technology, said, "We are pleased to be working with Stern & Co. to convey to the investment community and the public the competitive edge of our technology, a multi currency cross border platform essential for credit card transactions throughout Europe and the global economy. Stern & Co. is a communications firm that has a history of success in providing investor and media relations support to publicly traded companies such as ours.

"We expect to create an aggressive communications program," said Stephanie Stern, president of Stern & Co., "that fully conveys FreeStar Technology's compelling story in order to secure for the company the recognition it deserves. FreeStar is among the first processing companies operating exclusively in Europe to upgrade to EMV technology, the first major development in payment card transactions since the magnetic stripe. EMV technology is an integrated circuit card that Europay, MasterCard and Visa conceived to increase the security and versatility of all credit and debit cards."

ABOUT FREESTAR TECHNOLOGY CORPORATION

FreeStar Technology is a payment processing and technology company operating a robust Northern European BASE24 credit card processing platform based in Helsinki, Finland. FreeStar currently processes approximately 1,000,000 card payments per month for an established client base that comprises companies such as Finnair, Ikea and Stockman. FreeStar is focused on exploiting a first-to-market advantage for its Enhanced Transactional Secure Software (ETSS), which is a software package that empowers consumers to consummate e-commerce transactions with a high level of security using credit, debit, ATM (with PIN) or smart cards. The company, based in Santo Domingo, Dominican Republic, maintains satellites offices in Stockholm, Dublin, Ireland, Helsinki, Finland, and Geneva, Switzerland. For more information, please visit FreeStar Technology's websites at http://www.freestartech.com, http://www.rahaxi.com.

SOURCE: FreeStar Technology Corporation.