MonoBank PLC explores Frankfurt Stock Exchange listing

London, United Kingdom - (For immediate release) - November 13th, 2006 9:00 AM

Mono Bank PLC, a company specializing in offering prepaid debit solutions to the credit challenged consumer market, announced today that it is exploring the possibility of listing its common shares on the Frankfurt Stock Exchange (FWB). The FWB is the largest of eight German securities exchanges operated by Deutsche Borse Ag and is the world's third-largest securities exchange in terms of turnover and dealings.

Mono Bank PLC wishes to raise additional funds from a Frankfurt listing to develop new and innovative products and service specifically designed for the sub-prime consumer and small business market.

According to a new study from the Aite Group LLC the once-ignored U.S. small-business customer segment is growing in sophistication and is expected to spend US$477 billion on financial products by 2010. Banks must alter their strategies in order to reap the benefits and reduce the number of lost opportunities.

"A disconnect exists between small business needs and bank offerings," notes Christine Barry, Research Director with Aite Group and author of the report. "Businesses that generate between US$100,000 and US$1 million in annual revenues are the small-business sub-segment most likely to complete transactions online, yet most banks offer these customers only retail banking solutions and thereby limit their opportunities for cross-selling and generating fee-based revenues."

MonoBank PLC hopes to take advantage of this “disconnect” by developing new, innovative products and services for this segment of the market. Mono Bank is also in the process of developing products and service for the credit challenged. These include low cost money transfer solutions and prepaid credit cards, commonly known as stored value cards. In the U.S. alone there are 50 million Americans that don’t have access to credit and banking facilities. Estimates suggest that stored value transactions in the U.S. could exceed $2 trillion in just a few years. And as large as the potential for stored value is in the U.S., the international opportunity will be several orders of magnitude higher. 

MonoBank PLC has chosen to do a Frankfurt listing first as this will increase our visibility internationally while allowing the company to take advantage of the significant market opportunities in the UK, continental Europe and Asia. Once we’re listed on the Frankfurt we plan to apply for a dual listing on the Pink Sheets or NASDAQ.

About MonoBank PLC
MonoBank PLC, a company incorporated in London, England was founded with the vision of providing products and services to credit challenged prospects. The company’s mission is to provide a variety of products and services to the credit challenged and to continue to develop new first-to-market prepaid and debit card programs, building on consumer acceptance and brand recognition while ensuring customer satisfaction.

We know that each customer has specific needs. At MonoBank PLC, we strive to meet those specific needs with quality service and individual attention. We pride ourselves in giving customers the solutions they are looking for.

Disclaimer & Safe Harbor Statement:
This release includes forward looking statements, which are based on certain assumptions and reflects management's current expectations. These forward looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations.  The Company disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise. "Safe Harbor" Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains certain "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995.

For further information please contact:
MonoBank PLC.
Investor Relations Department
+ 44 (0) 20 70 433710

Copyright © 2006 MonoBank PLC. All rights reserved.