August 23, 2005

NEW YORK, FreeStar Technology Corp. (OTC Bulletin Board: FSRT) today announced that its Rahaxi Processing Oy. subsidiary has signed a software development contract with Metropolitan Poker, Inc., to provide its web site MetropolitanPoker.com with a state of the art payment management system.

Metropolitan Poker will be the first customer to be incorporated into the innovative Internet Payment Gateway (IPG) recently deployed by Rahaxi Processing Oy.

Under the terms of the agreement, Rahaxi Processing will develop the poker site's payment system and will integrate it with the IPG. The application will manage all aspects of the payment and virtual bank system, and will forward payment data to Rahaxi's processing platform to be cleared with the acquiring institutions nominated by MetropolitanPoker.com.

FreeStar Technology CEO Paul Egan explained that this contract is a landmark, which demonstrates the company's end-to-end solution capability because it encompasses software development, payment authorization and use of the Internet Payment Gateway, enabling customers anywhere in the world to access the system and pay for their transactions.

Egan said, "We are very pleased to offer MetropolitanPoker.com the complete online payment solution. Online poker is one of the world's fastest growing businesses and this agreement positions FreeStar Technology to demonstrate the value of its online payment solution."

Michael Rosenberg, CEO of Metropolitan Poker, said, "Metropolitan Poker is very happy to enter into this agreement with Rahaxi to develop a payment solution. We have made great efforts in developing 'a state of the art' poker software and after careful consideration and research we have found Rahaxi to be the most suitable choice of partner to fulfill our high demands for reliability and security."