Press Release

Reduction of Founders' Stake

NETELLER plc (the “Company”) is pleased to announce the successful completion of a placing (the “Placing”) of 30,600,000 existing ordinary shares which have been sold by certain of the Company’s founders, Corvina International Ltd and 1098853 Alberta Ltd (the “Sellers”) reducing their stake to 49.9 per cent of the Company’s issued share capital.

A total of 30,600,000 ordinary shares of 0.01p (the “Placing Shares”) in the Company, representing 25.54 per cent of the Company’s issued share capital, have been placed by Canaccord Capital (Europe) Limited (“Canaccord”) and Durlacher Limited, the Company’s joint brokers (“Joint Brokers”) with UK and European institutions at the price of 280 pence per share, at a value of approximately £85.68 million.

The Placing Shares were sold in the market in an orderly manner in response to recent institutional demand for the shares. This achieves the Company’s intention of increasing the number of shares trading freely in the market and reducing the founders’ stake below 50 per cent of the Company’s issued share capital.

In order to effect the Placing, the Sellers were released from their lock-in undertakings, which were agreed a the time of the Company’s admission to the Alternative Investment Market in April 2004, in respect of the Placing Shares by the Company’s Joint Brokers. The Sellers have agreed to an extension of the existing lock-in undertakings for a further 12 months from 5 November 2004. In addition, the Sellers have acknowledged that Canaccord will not consent to any further sales of their shares for the 12 month period from 5 November 2004.

Following the Placing, the Sellers will remain significant holders of the company’s ordinary shares as follows:

	Date of sale	Placing price	No. of shares placed	No. of shares after placing	% of issued share capital
Corvina International Ltd	8 Nov 04	280 p	22,239,467	43,426,483	36.3%
1098853 Alberta Ltd	8 Nov 04	280 p	8,630,533	16,325,417	13.6%

Stephen Lawrence, Chairman, and John Lefebrve, non-executive director, are both interested in 43,426,483 ordinary shares of the Company by virtue of the fact that they own 60.4 per cent and 37.0 respectively of the issued share capital of Corvina International, which is the registered holder of 43,426,483 ordinary shares in the Company following the Placing.

About NEOVIA Financial Plc

Trusted by consumers and merchants in over 160 countries to move and manage billions of dollars each year, NEOVIA Financial Plc (formerly NETELLER Plc) operates the world's leading independent online payments business. Through its Payment Suite, featuring NETELLER®, NETBANX®, Net+™ and 1-PAY™ brands, NEOVIA specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed NEOVIA to support thousands of retailers and merchants in many geographies and across multiple industries.

Subsidiary company NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about NEOVIA Financial visit www.neovia.com.

NEOVIA Financial Plc recently changed its corporate identify from NETELLER Plc to better reflect the strength and breadth of its individual product brands. At the same time its ticker symbol changed from NLR to NEO.

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