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PRESS RELEASE

Year 2007 / Tuesday November 20, 9:37 am ET

FreeStar Technology Corporation Announces Quarterly Sales of $1.3 Million, Record Growth of 193 Percent

Expands Processing and Sales to Denmark, Iceland, the U.K. and Dominican Republic

DUBLIN, Nov. 20, 2007 (PRIME NEWSWIRE) -- FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News) today said the Company has achieved record revenues for the first quarter of its fiscal year. Revenue for the three months ended September 30, 2007 was $1,354,495, which is an increase of 193% over revenues of $461,860 reported for the three months ended September 30, 2006. The Company processed a total of 5,125,674 transactions during the current quarter, an increase of 207,721 or 4.2% compared to 4,917,953 transactions processed during comparable quarter of the prior year. FreeStar's revenue consisted of transaction processing and related services of $487,723; consulting services provided by the Company's subsidiary, Project Life Cycle Partners, Ltd., of $605,977; and hardware sales and related revenue of $260,795. During the prior year quarter ended September 30, 2006, all of FreeStar's revenue of $461,860 was attributable to transaction processing and related services.

Paul Egan, FreeStar's Chief Executive Officer, said: ''A core component of our strategy has been to achieve aggressive revenue growth by developing not only new revenue streams, but by delivering steady, dependable growth from existing product lines. That philosophy has begun to yield results as our transaction processing volume has now increased for fifteen consecutive quarters when compared to the comparable quarter of the prior year. In addition, during the quarter ended September 30, 2007, we began recognizing revenue from new sources, as we had hardware sales in the Dominican Republic from our subsidiary company FreeStar Dominicana. This current rate of growth does not include potential growth from future contracts in this quarter and next. The future contracts include potential transactions with Monex and China Union Pay. We also are working on expanding our existing relationship with Global Refund and have launched in two new countries which will be recognized in our bottom line.''

FreeStar reported a net loss of $5,639,278 for the three months ended September 30, 2007, an increase of 126% compared to a net loss of $2,470,221 during the prior year. Ciaran Egan, FreeStar's Chief Financial Officer, commented that ''approximately $3.3 million of our net loss is attributable to non-cash charges, such as the value of stock options financing and shares issued to consultants and employees.''

SOURCE: FreeStar Technology Corporation.