LESAKA TECHNOLOGIES INC — Director's Dealing 2008

Mar 28, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NET 1 UEPS TECHNOLOGIES INC (UEPS)
CIK: 0001041514
Period of Report: 2008-03-25

Reporting Person: Brait S.A. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-03-25	Common Stock, par value $.001 per share	S	166457	$23.9592	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.001 per share	8718504	Indirect
Common Stock, par value $.001 per share	503022	Indirect

Footnotes

F1: These securities were required to be sold pursuant to the expiration of a convert and hold instruction.

F2: These securities were held by South African Private Equity Trust III ("SAPET III"). As the Trustee of SAPET III, Brait Capital Partners Trustee Pty Ltd ("BCP Trustees") may be deemed to be the beneficial owner of the securities held by SAPET III. As a shareholder of BCP Trustees, Brait South Africa Ltd ("BSA") may be deemed to be a beneficial owner of the shares held by BCP Trustees. As the shareholder of BSA, Brait S.A. ("Brait S.A.") may be deemed to be the beneficial owner of securities held by BSA. BCP Trustees disclaims beneficial ownership of the securities, except to the extent of its pecuniary interest.

F3: Brait S.A. disclaims beneficial ownership of the securities, except to the extent of its pecuniary interest.

F4: These securities were held by South African Private Equity Fund III, L.P., ("SAPEF III Fund"). As the general partner of SAPEF III Fund, SAPEF III International G.P. Limited ("SAPEF G.P.") may be deemed to be the beneficial owner of securities held by SAPEF III Fund. As a shareholder of SAPEF G.P., Capital Partners Group Holdings Limited ("Capital Partners") may be deemed to be the beneficial owner of securities held by SAPEF G.P. As the parent company of Capital Partners, Brait S.A. may be deemed to be the beneficial owner of securities held by Capital Partners. Each of SAPEF G.P. and Capital Partners disclaims beneficial ownership of the securities, except to the extent of its pecuniary interest.

F5: These securities were held by Brait International Limited ("Brait International"). As the parent company of Brait International, Capital Partners may be deemed to be the beneficial owner of securities held by Brait International. As the parent company of Capital Partners, Brait S.A. may be deemed to be the beneficial owner of securities held by Capital Partners. Capital Partners disclaims beneficial ownership of the securities, except to the extent of its pecuniary interest.