Letter agreement effective March 7, 2008 between Net 1 UEPS Technologies, Inc. and the South African Social Security Agency extending Net1s service level agreement in the Kwa-Zulu Natal province

As you are aware, the South African Social Security Agency (“SASSA”) came into being on 1 April 2006 through the coming into force of the South African Social Security Agency Act, Act No. 13 of 2004 (the “SASSA Act”). As a result of this, SASSA replaced the Department of Social Welfare and Population Development of the Province of KwaZulu Natal as a party to the service level agreement entered into with Cash Paymaster Services (KwaZulu) (Proprietary) Limited (“the service provider”) in July 2001. The function of the payment of grants and the responsibility and accountability therefore, now resides with SASSA.

This letter serves to confirm that-

the Agreement shall no longer automatically terminate on 31 March 2008 as provided for in the Letter of Extension dated 30 November 2006;

the duration of the Agreement is hereby further extended until 31 March 2009 on the same terms and conditions on which the Agreement was entered into, provided that SASSA will have the right to:

terminate the Agreement on 30-days written notice to the service provider after the initial six months of the extension period within the period referred to above; and

extend the Agreement on 30-days written notice to the service provider.

Kindly acknowledge your agreement to the extension of the Agreement as provided for in this letter by signing at the foot of this letter where indicated and return same to us by facsimile at ###-###-####, marked for the attention of Mr Stalin Links, before 7 March 2008.