LESAKA TECHNOLOGIES INC — Director's Dealing 2006

Dec 5, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NET 1 UEPS TECHNOLOGIES INC (UEPS)
CIK: 0001041514
Period of Report: 2006-12-01

Reporting Person: Belamant Serge (Director, Chief Executive Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-01	Employee Stock Option (right to buy)	$22.51	A	80000	Acquired	2016-08-24	Common Stock (80000)	Direct

Footnotes

F1: The option grant was approved by the remuneration committee of Net 1 UEPS Technologies, Inc.'s board of directors on August 24, 2006, subject to shareholder approval of the amendment and restatement of the 2004 stock incentive plan under which the option was granted. Net 1's shareholders approved the plan on December 1, 2006.

F2: The options are exercisable in five equal installments commencing on May 8, 2007.