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PRESS RELEASE

Year 2007 / Monday October 11, 9:30 am ET

FreeStar Technology Corp´s Rahaxi Processing Oy Achieves Full EMV-certification from American Express®

The Certification enables Rahaxi to Process American Express® EMV-chip and pin transactions

HELSINKI, Finland, Oct. 11th, 2007. FreeStar Technology Corp. (OTC Bulletin Board: FSRT - News), an international card payments processor and technology company, today announced that its Finnish-based, wholly owned subsidiary, Rahaxi Processing Oy, has achieved the American Express® ICC Payment Specification (AEIPS) acquirer certification.

"This certification is the result of our dedication to enable more services to our customers. We now have a certified link with American Express® that allows us to process American Express EMV-cards transactions in our network. This certification brings yet another value added service to our existing, international standard portfolio of payments products and services", Dr. Jose Enrique Perez, Managing Director of Rahaxi Processing Oy, commented.

About EMV

EMV is an international standard, developed in response to certain types of bank card fraud. In time, EMV will replace the magnetic strip with a chip all over the world, on both credit cards and other bank cards. This will change some payment transactions. The name EMV stands for the initiating organisations, namely the former Europay, and the international organisations MasterCard and Visa.

SOURCE: FreeStar Technology Corporation.