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PRESS RELEASE

Year 2007 / Thursday January 25, 5:30 am ET

FreeStar Technology Corp. Promotes Jose Enrique Perez to Managing Director of Rahaxi Processing Oy.

DUBLIN, Ireland, Jan. 25 /PRNewswire-FirstCall/ -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced that Jose Enrique Perez has been named managing director of Rahaxi Processing Oy., a wholly owned subsidiary, according to president and CEO Paul Egan.

As well as managing the day to day operations of Rahaxi Processing, in his new position, Perez' responsibilities include enhancing, developing and implementing the strategic plan for Rahaxi Processing in the most cost effective and time efficient manner. In addition Mr. Perez will be responsible for ensuring service quality, financial performance, managing new and existing client relationships and accelerating revenue growth. Perez will report directly to the Board of Directors of FreeStar Technology. He was promoted from the position of chief technology officer.

Egan said, "Enrique's leadership, vision and contribution to the group in the past four months has enabled FreeStar Technology's Hypercom offerings to reach the marketplace in a timely fashion. As a result, we feel it appropriate to appoint him to this position to further enhance the growth of the company."

Prior to joining FreeStar Technology, Perez was senior vice president, chief of global offshore development and general manager of SIA Hypercom Latvia. He was responsible for driving Hypercom's global offshore software strategy, delivering competitive software products worldwide, managing its offshore development centers and managing the SIA Hypercom Latvia operations.

Mr. Perez is fluent in English, Russian, Spanish and Portuguese.

Perez said, "This is an opportunity and a challenge for which I have great enthusiasm, gratitude and commitment. I see tremendous opportunities for Rahaxi Processing. Its innovative technological approach and highly professional staff provide the best possible products to its clients and partners worldwide."

ABOUT FREESTAR TECHNOLOGY CORPORATION

FreeStar Technology Corp. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquires in more than twenty countries, our product suite has empowered partners to focus on their core competencies, while our innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. FreeStar Technology has adopted a partnership strategy for growth. Our partners are market leaders in their respective industries. These include IKEA, Finnair and Stockman. Our subsidiaries, Rahaxi Processing Oy, Finland, FreeStar Technologies Ireland, Ltd., and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level our partners can offer customers. For more information, please visit http://www.freestartech.com or http://www.rahaxi.com.

SOURCE: FreeStar Technology Corporation.