LESAKA TECHNOLOGIES INC — Director's Dealing 2007

Aug 15, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NET 1 UEPS TECHNOLOGIES INC (UEPS)
CIK: 0001041514
Period of Report: 2007-08-07

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-08-07	Common Stock	A	40000	—	Acquired	1340822	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	800799	Indirect

Footnotes

F1: Represents a grant of restricted stock approved by the remuneration committee of the Issuer's board of directors pursuant to the Amended and Restated 2004 Stock Incentive Plan. Subject to the satisfaction of certain vesting conditions related to the Issuer's financial performance and the recipient's continuous employment or service with the Issuer or its affiliates, one-third of the shares will vest on each of September 1, 2009, 2010 and 2011.

F2: 1,150,823 shares of Special Convertible Preferred Stock are held by The Aplitec Holdings Participation Trust for the benefit of Dr. Belamant and are convertible, on a one-for-one basis, into shares of common stock at the discretion of Dr. Belamant. Dr. Belamant owns 189,999 shares of common stock directly. 800,799 shares of common stock are held by the CI Law Trustees Limited for the San Roque Trust dated 8/18/92. Dr. Belamant, as proxy of CI Law Trustees, has the power to vote all of the CI Law Trustees' shares.