Luup signs a partnership with Metrobank Middle East

Notes and media contacts

About Metropolitan Bank and Trust Company (Metrobank):
Metrobank is a universal bank providing a full range of banking services to large local and multinational corporations, middle market, high net worth individuals, and retail segments. The Bank owns substantial equities in a roster of allied and non-allied undertakings such as life and non-life insurance, bancassurance, consumer banking, investment management, credit cards, leasing, real estate development and car manufacturing and distribution.

Metropolitan Bank & Trust Company (Metrobank) was incorporated on September 5, 1962 in the Philippines. It acquired its universal banking license in August 1981. As of first half of 2009, Metrobank remains one of the local banking industry's leaders in terms of assets, reaching PHP777.2bn. As of end June 2009, it is the highest capitalized bank with PHP70.9bn equity.

Metrobank has a consolidated branch network of over 727 domestic branches and 35 foreign branches, subsidiaries, and representative offices; 58 remittance tie-ups, and more than a thousand correspondent banks, with an international presence spanning 21 countries. It has a consolidated network of over 1,100 ATMs throughout the Philippines.

About Luup International:
Luup is an independent global provider of mobile payment solutions, systems and infrastructure, enabling a wide range of payments to be initiated and managed from a mobile phone. The company specializes in offering payment processing, mobile payment interfaces and virtual mobile phone accounts.

Launched in Norway in 2002, and with operational experience in three European markets, Luup is partnering with banks and financial institutions around the world to create a global mobile payment network. Luup is a privately owned company.

Its service enables financial institutions to offer:
• Convenient and secure methods for customer to make bill payments, merchant payments and money transfers while on the go.
• Virtual accounts from which previously unbanked customers can withdraw their salaries in cash and remit money home to their families.
• Electronic payroll solution to those companies wishing to reduce costs and increase security while serving their unbanked employees a service that is able to work with any mobile phone operator and on any mobile phone device.


For more information, please contact:
Morten Hofstad
Head of Business Development, MENA
Luup International
T: +971504405221

OR

Mr. Richard S. So - Senior Vice President
Metrobank
Tel: +632-8579793

OR

Grace Sescon
Administration Executive
T: +971 (4) 337 2824
P.O. Box 29764
Dubai, United Arab Emirates
Fax +971 (4) 337 2825