[ Back ]

PRESS RELEASE

Year 2007 / Tuesday July 10, 11:24 am ET

FreeStar Begins Process to Change Name to Rahaxi, Inc.

DUBLIN, Ireland, July 10, 2007 (PRIME NEWSWIRE) -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced that it was beginning the process to change its name to ``Rahaxi, Inc.'' FreeStar's Board of Directors has approved a proposed amendment to FreeStar's Articles of Incorporation to change its name to Rahaxi, Inc. The Board of Directors has recommended that the name change amendment be adopted by the shareholders of FreeStar and directed management to take appropriate action to obtain shareholder approval of the name change amendment.

''Through our Finnish subsidiary, Rahaxi Processing Oy, we believe that 'Rahaxi' has a valuable, established brand name in our core markets in the Scandinavian region. We believe that in this region, Rahaxi conveys quality, innovation and reliability to our customers,'' said Paul Egan, President and CEO of FreeStar Technology Corporation. ''We believe that the Rahaxi brand is a valuable asset and that by changing FreeStar's name to Rahaxi, we can maximize the goodwill associated with Rahaxi and uniformly brand our products in our other markets.''

SOURCE: FreeStar Technology Corporation.