Mr. Ung, 40, will serve as a member of the Board until the shareholders of MobiClear duly elect his successor.

"I am very pleased to welcome Simoun to our Board," stated Anders Ericsson, CEO of MobiClear. "He brings extensive expertise and experience in the field of fraud prevention through his work within the credit card payment system and transaction arena. Further, his expert knowledge in the field of money laundering prevention parlays nicely into MobiClear's business strategy."

Currently, Mr. Ung serves as independent director of both Transpacific Broadband Group International, Inc. (Philippine Stock Exchange: TBGI) and Federal Chemicals, Inc. (Philippine Stock Exchange: FED). Mr. Ung is one of the founders and directors of the Board of Bastion Payment Systems Corporation (BPSC), a premier provider of card acquiring services, fraud management software and other related services. Established in the last quarter of 2005, Bastion utilizes its in-house research and development team to develop proprietary payment solutions and systems for card processing and acquiring, card fraud management, merchant management and boarding, merchant risk control and identification, and web site payment page hosting. Mr. Ung has a Master of Business Administration from the Ivey School of Business and has been a resource speaker for the Federal Bureau of Investigation on advanced money laundering using electronic payment systems.