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EarthPort Appoints Australasian Licensee
Hamilton, Bermuda: 12 July 2000 - EarthPort has granted to an Australian company, likely to be called EarthPort Australia Pty Limited, the exclusive licence to allow potential Australian and New Zealand customers to use EarthPort's payment infrastructure. The licence will run for a term of 5 years, renewable for a further 5 years, and is subject to certain performance criteria. EarthPort has a 20% shareholding in EarthPort Australia and a substantial share of its EarthPort payment services revenue as consideration for the licence.
