FINDI LIMITED — Capital/Financing Update 2011

Mar 27, 2011

28 March 2011

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TSI SIGNS WITH TOP TIER BANK TO DEPLOY ATMs

Highlights

• 7 year contract for 100 ATM sites with HDFC Bank (up to 200 ATMs)

• HDFC to guarantee minimum transaction volumes

• Significant increase in ATM and debit card growth - 2010 Indian Industry Report

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The Directors of Transaction Solutions International Ltd (“TSI”) are pleased to announce that TSI India has signed a 7 year agreement with a 5 year option with HDFC Bank, one of India’s top 10 banks.

The bank is present in over 700 cities, has in excess of 1,500 bank branches and over 15.5 million debit cards issued .

TSI Appointed

HDFC Bank has appointed TSI to deploy, manage and operate a minimum of 100 bank branded ATM sites , which can house 2 ATMs in each location. All ATMs deployed under the agreement will be owned by TSI. Due to the volume of transactions that HDFC receives at many of its ATM sites the bank typically deploys 2 ATMs at each site.

HDFC guarantees minimum transaction volumes

Under the agreement TSI receives a minimum monthly guarantee from HDFC Bank of 7,000 transactions per month per site, and should a second ATM be required in the same site the bank shall guarantee a further 3,000 transactions per month. There is no upside restriction, and transactions occurring above 7,000 will generate additional incremental revenue on a fee per transaction basis.

“HDFC’s model is typically 2 ATMs per site, so this contract gives us the potential to place up to 200 ATMs should transaction volumes warrant a second ATM on a site,” advised Managing Director Gary Foster. “The bank is guaranteeing TSI up to 10,000 transactions per month per site based on two ATMs installed, so logically we can assume HDFC expect performance to be at least at these levels.”

The bank’s appetite for ATM outsourcing is significant and expected to grow. “Based on our detailed discussions, we anticipate being involved with the bank’s ongoing ATM expansion plans which is an exciting position to be in,” commented Gary Foster.

Transaction Solutions International Limited ABN 98 057 335 672 24 Colin Street, West Perth, WA 6005 Tel: +61 8 6500 0226 Fax: +61 8 9226 2235

Extracts and Statistics from “Indian Payment Card Industry Survey 2010”

- Country ATM Density ATM units per million people

Taiwan 1,336 Malaysia 432 Australia 159 Indonesia 134 China 70 India 35

Indian Bank ATM Trends

The trend of banks moving more towards outsourcing in the payments card industry is increasing in the areas of …debit card reconciliation and ATM Managed Services.

ATMs have already turned out to be more than a quick stop to withdraw cash. Some banks are offering services of transfer of funds, recharge mobiles, payment of insurance premium, utility bill payments etc. through ATMs and there by acting as mini branches for customer convenience.

Debit Cards

The number of debit cards issued by banks:

2009 - 137.4 million cards

2010 - 181.5 million cards

2011 - 240 million cards (est.)

When compared with the banks’ saving account customer bases, the present debit card base is still very small and there is great potential for further growth.

Indian Bank ATMs

Banks are of the belief that ATMs are integral part of their branding and therefore most of them are trying to increase their ATM base significantly. ATMs are becoming more interactive, and might turn into mini branches with more facilities are being offered at the ATM location.

Transaction Solutions International Limited ABN 98 057 335 672 24 Colin Street, West Perth, WA 6005 Tel: +61 8 6500 0226 Fax: +61 8 9226 2235

About TSI

Founded in 2005, TSI’s business is a rapidly growing bank ATM deployment and e-transaction financial services business based in India. Operational in India since 2006 the company now has in excess of 440 ATMs fully operational and generating revenue. It has further contracts for another 60 ATMs to be installed.

The company’s business model is to build recurring revenue through the deployment of ATMs as well as service the financial payments sector through automation of bill payment processes, in a market that is migrating from paper based to electronic transactions.

TSI owns, manages and operates its financial hardware and systems, in return for a fee per transaction. This recurring revenue model assists TSI in producing a business model that is highly scalable.

TSI has agreements with a large number of national companies including major banks, utilities and corporates. It is these corporations (not consumers) who form TSI’s customer base, and from whom TSI receives its revenues.

Supported by the strong infrastructure and business platform built over the last 5 years, and a leading market reputation the business is now scalable by the installation of new ATM’s and building on the recently introduced bill payments capability. Barriers to entry in the sector are high with regulatory and banking approvals required. TSI has successfully overcome those barriers, as reflected in its growth profile and the increasing demand for its ATM outsourced business.

Transaction Solutions International Limited ABN 98 057 335 672 24 Colin Street, West Perth, WA 6005 Tel: +61 8 6500 0226 Fax: +61 8 9226 2235