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PRESS RELEASE

Year 2007 / Monday August 27, 6:30 am ET

FreeStar Technology Wins Following Final Court Ruling

Judge Orders 25 Million FreeStar Shares Issued to Svensk KretitFinans AB Cancelled

DUBLIN, Ireland, Aug. 27, 2007 (PRIME NEWSWIRE) -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, announced that a United States District Court in Nevada has issued a final ruling favoring the company. United States District Court Judge Jones issued a final order canceling the entire 25 million shares of FreeStar Technology common stock issued to Svensk Kretit Finans. The Court further ordered that Svensk Kreitit Finans was never a shareholder of Freestar and that those 25 million shares are not to be counted as having ever been issued and outstanding.

FreeStar Technology Corporation has remaining claims against Soren Moberg, Moberge Group, Magnus Erneving asserting claims for fraud, conversion, unjust enrichment and negligent misrepresentation, seeking unspecified damages and $5 million in punitive damages. The Court had previously enjoined those individuals from selling, assigning, transferring or otherwise encumbering any of the 25 million shares, which have now been cancelled.

Paul Egan, CEO of FreeStar Technology Corporation stated, ''We are pleased with the court's final decision and we will aggressively pursue through all available means any individuals who attempt to defraud and manipulate the company and its shareholders. We look forward to concentrating on bringing shareholder value in the form of increased revenue and business opportunities.''

SOURCE: FreeStar Technology Corporation.