17 December 2013

e-pay Asia Limited ("e-pay Asia" or the "Company")

UPDATE TO LITIGATION

e-pay Asia Limited provides an update in relation to the litigation previously advised to the market on 22 August 2012 regarding the Statement of Claim issued in the Kuala Lumpur High Court by Allan David Martinez trading as Martech
Consultants ("Martech") against the company's Malaysian based subsidiary e-pay (M)
Sdn Bhd ("EPM").
The claim relates to an alleged breach of terms and conditions relating to a
business consultancy agreement ("BCA") between EPM and Martech for the provision of bill payment collection services by EPM to a third party.
Martech has been successful in its claim of specific performance by EPM of the BCA for a three year period ending December 2015 together with a declaration that the BCA is valid together with damages for alleged breach of the BCA (which are not quantified) plus costs of RM15,000 (A$5,000).
EPM has decided to appeal the case to the Court of Appeal.
GHL Systems Berhad ("GHL") has clarified with e-pay Asia Limited that this development has no impact in relation to its takeover offer for e-pay Asia Limited and that it does not constitute a Material Adverse Change which it intends to rely on. In other words, the takeover offer continues unaffected.
For further information please contact:

e-pay Asia Limited Robert Lees Company Secretary Phone: +61 2 9299 9580

e-pay Asia Limited - ABN 99 089 227 887

Suite 2502, Level 25, St Martins Tower, 31, Market Street, Sydney NSW 2000 Australia

Telephone: +612 (0) 9267 4633 Facsimile: +612 (0) 9267 4388 Website: www.epay-asia.com

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