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PRESS RELEASE

Year 2005 / Monday June 20, 2:30 am ET

FreeStar Technology Corporation Appoints Two New Members to Its Advisory Board

HELSINKI, Finland--(BUSINESS WIRE)--June 20, 2005--FreeStar Technology Corporation (OTCBB: FSRT - News), a payments processor, today announced the appointment of the first two members of its newly formed advisory board. This group is chartered with supporting FreeStar's executive management team with insights targeted at positively influencing the company's operational procedures, technology direction, and corporate culture.

The charter members will lend individual expertise and experience to help formulate new strategies designed to address the needs of a rapidly changing marketplace. Each advisory board member has a track record in his or her area of expertise, making them invaluable to FreeStar's future growth strategy.

Donna Curry has spent 20 years at Merrill Lynch as a First Vice President in the Global Private Client Group. Her latest position was as Head of International Marketing for Asia, Europe and Latin America. During her career at Merrill Lynch, she has run numerous business groups in the US, focusing on developing products and services to both individual and institutional clients.

As a senior person for the firm, Ms. Curry has also served as board member for a number of strategic boards within the company. They include board positions on Merrill Lynch Bank USA; Merrill Lynch Bank and Trust; and Merrill Lynch Fund of Funds. She also served as a board member to Transcentive Corporation, which is a processing company that provides processing support to Merrill Lynch's stock option business.

Anders Hedin founded Hedin Cars in 1985. Hedin Cars is one of the largest car dealerships in Sweden with 15 different sales centers. They are authorized dealers of Mercedes-Benz, Chrysler, Jeep, Smart, Nissan, Cadillac, Corvette, Chevrolet, Mitsubishi and the Hummer. Due to his experience, Mr. Hedin sits on the board of Mercedes-Benz Authorized Car Dealer Association in Scandinavia and also sits on the Board of Mercedes-Benz Authorized Car Dealer Association in Europe.

"Both of these individuals bring years of operating experience to the company," stated Paul Eagan, CEO of FreeStar. The creation of this advisory board marks a continued endorsement by FreeStar to help the company understand and deliver on client demands as well as the needs of a growing business. "This enables the management team to make very informed strategic decisions and to stay ahead of the constantly changing business environment," stated Mr. Egan.

Mr. Hedin commented, "I am excited and honored to be a member of the FreeStar advisory board. Today's organizations need to be innovative, fast and adaptable. They need powerful strategies that balance short-term results with long-term success. All of this takes place in an environment of tough competition."

Ms. Donna Curry stated, "I am very excited to be on the FreeStar advisory board. FreeStar has an attractive product offering now with their inclusion of EMV and the new Internet Payment Gateway (IPG). With these capabilities and timing, I believe that FreeStar is positioned correctly in the market for growth."

ABOUT FREESTAR TECHNOLOGY CORPORATION

FreeStar Technology Corporation is a payment processing company. Its wholly owned subsidiary Rahaxi Processing Oy., based in Helsinki, is a robust Northern European BASE24 credit card processing platform. Rahaxi currently processes in excess of 1 million card payments per month for such companies 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 satellite offices in Dublin, Helsinki, and Geneva. For more information, please visit FreeStar's websites at http://www.freestartech.com, http://www.rahaxi.com.

SOURCE: FreeStar Technology Corporation.