Rahaxi Inc (OTCBB: RHXI)

Rahaxi, Inc. is an international payment processing and technology company operating a robust BASE24 credit card processing platform, which currently processes approximately 2 million card payments per month for an established client base comprising companies such as Stockmann, Global Refund and Finnish State Rail (VR) the value of these transactions is typically in excess of $200 million per fiscal quarter.

Rahaxi, Inc. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. Rahaxi, Inc. has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries.

Rahaxi, Inc. is additionally focused on exploiting a first-to-market advantage of its Enhanced Transactional Secure Software (”ETSS”), which is a software package that empowers consumers to consummate e-commerce transactions with a high level of security using credit, debit, ATM (with PIN) or smart cards. The company maintains its corporate headquarters in Santo Domingo, Dominican Republic, and has offices in Dublin, Ireland, and Helsinki, Finland.

Through its subsidiary Rahaxi Processing Oy, as well as a network of strategic alliances in the Americas, Europe and the Caribbean, Rahaxi, Inc. is at the forefront of the transformation underway in the payments industry today. Rahaxi, Inc.’s solution greatly reduces chargebacks and thereby allows companies to forecast sales figures more accurately.Rahaxi, Inc.’s technology also assists individual consumers to safeguard their financial privacy and protect their credit information during transactions with online merchants.

While payment media such as credit cards are still the most frequently used method of online payment, unparalleled growth in electronic commerce has increased the prospect of fraud in electronic payments. This is the major challenge for financial institutions around the world. Rahaxi, Inc.’s solution is the product of a deep-seated understanding of the industry’s need and the ability to forecast and predict future trends. Rahaxi, Inc. is focused on the need for financial institutions both to prevent fraud and provide secure and convenient services to their customers.

MISSION

To be the preferred European electronic payments provider for agile, reliable, mission critical payments processing.

SHARED, ORGANIZATIONAL VALUES

Generate internal and external synergies. Deliver innovative and comprehensive solutions that enable businesses to generate higher earnings from card acceptance for their competitive edge.
As an international organisation, management believes it is important to all stakeholders that Rahaxi, Inc. is governed by global operating principles. These principles are:

• Accountability – Personal responsibility.
• Discipline – Commitment to personal and professional balance.
• Integrity – Correlation in communications and actions. Act in a manner that is consistent with corporate values.
• Perseverance – Determination and diligence in everything we do.
• Respect – Refers to the way in which we interact with colleagues, customers, partners, and vendors. That is, fairness in business dealings and service excellence.

Rahaxi, Inc.´s management have defined these global operating principles to inspire and motivate our staff as well as sustain our vision and work towards a common goal.

VISION

Leading, innovative and robust payments provider with differentiated, low-risk solutions and competitive pricing.

QUALITY COMMITMENT

Maintain high quality standards with continuous improvement of products and services that exceed customer requirements. Quality improvement and measurement are strategic commitments enterprise-wide for outstanding customer care.

EXECUTIVE BIOS

Paul Egan – President and CEO
Mr. Egan, who currently serves as President and Chief Executive Officer of FreeStar Technology Corporation (FSRT.OB), founded ePayLatina S.A., which developed the PaySafeNow system and was acquired by FSRC in September 2002. Before founding ePayLatina, Mr. Egan was Vice-President of Inter-Leisure, S. A. Mr. Egan also worked with the South African Firm ENGEN to oversee the New Project Division after their acquisition of Mobil Oil South Africa and to implement the new company’s construction projects and corporate identity. He studied Construction Management in Birmingham, England and worked for Trafalgar House Construction Division on major projects in London Banking Districts. Mr. Egan attended Terenure College Dublin.

Ciaran Egan – Chief Financial Officer
Mr. Egan was most recently with Medipro International Recruitment based in Johannesburg, South Africa, which he joined in 1994 as Managing Director, with the central focus on establishing new markets in the Middle East, United Kingdom and Ireland. He was successful in obtaining and completing contracts with the Ministry of Defense and Aviation in Saudi Arabia and the United Arab Emirates. He also implemented contracts for the National Health Service in the United Kingdom and several private institutions in Ireland. Prior to that, Mr. Egan was the National Sales Director for Sellrange Ltd (Ireland). Mr. Egan is a graduate of Terenure College Dublin and attended College of Rathmines Dublin.

Fionn Stakelum – Operations Director
Mr. Stakelum has come into FreeStar on the back of an extensive software localisation background. He holds Bachelor of Commerce Degree and an Advanced Diploma in Systems Analysis and Design from NUI Galway. Mr. Stakelum previously occupied positions of Technical Support and Software Development Engineering at Corel Corporation in Dublin. For many years he served as a Senior Software Localisation Engineer at Corporations such as Microsoft , Lotus, and Symantec in Dublin. He was responsible for overseeing the shipment of various Microsoft products in over 20 languages. Furthermore, he has overseen many developments in internal methodologies at a variety of companies that he has worked with.

Mr. Stakelum joined FreeStar Technology Corporation in 2001 and was made Director in 2002. Since joining FreeStar he has been Project manager for the largest Hardware and Software upgrade ever undertaken in a Finnish payments company in 2003. He holds an Advanced Diploma in Project Management from DBS in Dublin.

Alexander Randarevich – IT Director
Mr. Randarevich holds a masters degree in Electronic Computing Systems and Networking. He is also a graduate of the Belarusian State University of Information Science and Radio Engineering. He has participated in several major projects related to Electronic Funds Transfer industry.

Prior to joining FreeStar Mr. Randarevich was employed by ASinus Ltd., IBM’s Business Partner in Belarus as a software architect from 1997 to 1999. Mr. Randarevich was responsible for the architecting of EIMS-class system.

In 1999 Mr. Randarevich joined BelCAF Ltd, a Belarusian partner of CAF, a GmbH company. Mr. Randarevich was responsible for database architecture and the development of enterprise-level systems for the leading corporations in the German insurance and chemical industries. Mr. Randarevich’s experience also includes SAM Service GmbH and PopNet Kommunikation GmbH.

CONTACT INFORMATION

For information concerning investor relations, please contact:
Ciaran Egan
Chief Financial Officer and Director, Rahaxi, Inc.
Phone: (809) 547-2248
Email: cegan@freestartech.com

For additional information on Rahaxi, Inc. (OTCBB: RHXI) visit the Company’s website at http://www.rahaxi.com