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Bank Freedom Ships More Than 44,000 Bank Freedom Prepaid MasterCard(R) Cards to Its Customers in April; Card Launch Orders for Prepaid Cards Exceeded Company’s Expectations


IRVINE, Calif.- Bank Freedom, a wholly owned subsidiary of Prepaid Card Holdings, Inc. (Pink Sheets: PPDC - News), today announced that it shipped more than 44,000 Bank Freedom Prepaid MasterCard® Cards in April 2008. Bank Freedom, which recently rolled out its marketing campaign, expected 10,000 - 20,000 card orders in April. However, demand for the Bank Freedom Prepaid MasterCard has far exceeded the company’s expectations.

Bank Freedom credits the overwhelming success of its card program launch to offering a much-needed financial product to American consumers with no activation cost, nominal fees and its management’s extensive experience in marketing to the company’s demographic.

Ryan Guenthart, Vice President of Customer Service of Bank Freedom, stated, “Customers have told us they are switching to Bank Freedom for a variety of reasons. However, the majority of them are stating that our fee structure saves them money. Bank Freedom customers are American consumers who are in need of a low-cost alternative to check cashing centers, money orders and paying with cash, so every penny counts to them.”

Bank Freedom management has extensive experience in direct response marketing; the company’s founder, Bruce Berman, is an expert in direct-to-web-only marketing. The company launched radio, print and internet test marketing campaigns last month and has a television ad in pre-production.

About Bank Freedom

Bank Freedom has recently entered the prepaid card industry with its Bank Freedom Prepaid MasterCard. The BankFreedom Prepaid MasterCard Card is issued by MetaBank pursuant to license by MasterCard International Incorporated. According to market data available, there are between 40 and 80 million people in the United States who don’t have a bank account or who can’t qualify for a credit card because their credit scores are too low. This is called the under-banked market. The emerging prepaid card solutions offered by Bank Freedom can act as a card account and payment solution for those people who do not use banks or credit cards. For the under banked, the evolution taking place with prepaid cards can replace their reliance on check cashing centers, money orders, and the inability to buy certain products that require a major credit card.

About Prepaid Card Holdings, Inc.

Prepaid Card Holdings, Inc. is a publicly traded holding company whose current holdings consist of a 100% interest in the Berman Marketing Group, Inc. a multi-channel direct market firm specializing in direct response marketing through Television, Radio, Internet and Print media and Merchant Processing International Inc. DBA Bank Freedom.

About Meta Bank

MetaBank is a federally chartered savings bank headquartered in Storm Lake, Iowa. Meta Financial Group, Inc®. is the bank holding company for MetaBank, MetaBank West Central, Meta Payment Systems® and Meta Trust Company ®. The Meta Payment Systems division of MetaBank based in Sioux Falls, South Dakota, serves banks, processors, and third party marketers by providing prepaid cards, credit cards, ACH origination, merchant acquiring, ATM sponsorship, and money transfer. Meta Financial Group is traded on the (NASDAQ Global Market: CASH).

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