Planet Payment Reports Third Quarter 2012 Results Provides Update on NASDAQ Listing

Planet Payment Reports Third Quarter 2012 Results Provides Update on NASDAQ
Listing

LONG BEACH, N.Y., Nov. 26, 2012 (GLOBE NEWSWIRE) -- Planet Payment, Inc.
(LSE:PPT) (LSE:PPTR)  (OTCQX:PLPM), a leading provider of international
payment processing and multi-currency processing services, today announced its
results for the three and nine months ended September 30, 2012.

Financial Highlights for the Three Months Ended September 30, 2012 ("Q3 2012")

  oNet revenue for the period increased approximately 3% to $9.9m [Q3 2011:
    $9.7m].
  oConsolidated Gross Billings increased 10% to $26.3m [Q3 2011: $23.9m].
    (See Table 2 for explanation of this metric).
  oGross Foreign Currency Mark-up increased 12% to $22.9m [Q3 2011: $20.5m].
    (See Table 2 for explanation of this metric).
  oNet loss increased from $(0.4)m to $(4.0)m, primarily due to expensing of
    deferred IPO costs of $2.6m.
  oAdjusted EBITDA for the period decreased to $(0.4)m [Q3:2011 $0.6m]. See
    Table 1 for reconciliation of net (loss) income to Adjusted EBITDA.

Financial Highlights for the Nine Months Ended September 30, 2012 ("YTD" 2012)

  oNet revenue for the period increased approximately 7% to $31.7m [YTD 2011:
    $29.5m].
  oConsolidated Gross Billings increased 18% to $83.9m [YTD 2011: $70.9m].
  oGross Foreign Currency Mark-up increased 21% to $73.1m [YTD 2011: $60.7m].
  oNet income (loss) decreased from $0.6m to $(4.3)m.
  oAdjusted EBITDA for the period decreased 53% to $1.5m [YTD 2011 $3.2m].

Operational Highlights for the YTD 2012

  oTotal active merchant locations increased by 51% to approximately 38,000
    as of September 30, 2012 [September 30, 2011: approximately 25,000]. (See
    Table 2 for explanation of this metric).
  oSettled multi-currency dollar volume processed increased 3% to $572m [Q3
    2011: $555m]. YTD increase was 17% to $1.9b [YTD 2011: $1.6b].
  oEntered into a number of new contracts, notably multi-currency processing
    agreements with Taishin Bank in Taiwan and Mashreq in UAE and a processing
    agreement with China Unionpay.
  oLaunched Pay in Your Currency^® services with Global Payments Canada,
    Vantiv ATMs in the United States, Mashreq UAE, Citibank Philippines and
    Citibank Hong Kong and our MICROS Payment Gateway solution with Banorte in
    Mexico.

Our results reflect a 51% increase in active merchant locations over the last
twelve months and growth of 10% and 12% in Consolidated Gross Billings and
Gross Foreign Currency Mark-up respectively in the third quarter of 2012
compared to the same period in 2011. The growth in our financial results,
however, was muted by a number of factors. The poor economic climate, which
our merchants and their customers are facing, led to a decline in sales of
goods and services by merchants using our services, which negatively impacted
our net revenue. The net loss in the third quarter primarily resulted from
expensing previously deferred IPO costs of $2.3 m associated with our
registration statement on Form S-1, as well as IPO costs incurred in the third
quarter for a total amount of $2.6 m. The increase in our operating costs
compared to 2011 primarily reflects additions to technology and support
personnel to invest in the growth of the business and future launches into new
markets including Mexico and Brazil. We believe that the growth in the key
operating metrics of active merchant locations, Consolidated Gross Billings
and Gross Foreign Currency Mark-up are indicative of the underlying strength
of our business.

During the third quarter of 2012, we continued to expand our acquiring
customer base, in particular announcing an agreement with Taishin Bank to
provide our Pay in Your Currency^® service to the bank's portfolio of
merchants in Taiwan and the launch of Pay in Your Currency^® with Mashreq Bank
in the United Arab Emirates and Global Payments in Canada. We also launched
services with Banorte in Mexico, initially implementing our MICROS Payment
Gateway solution and plan to launch our Pay in Your Currency service shortly.
Today, we announced an initiative to launch Planet Payment's Pay in Your
Currencyand Shop in Your Currency^™ services with Cielo S.A. in Brazil. We
believe that these new initiatives are indicative of the strong pipeline of
business that we can look forward to.

CURRENT TRADING

The Company expects to see continuing growth in active merchant locations
during the remainder of 2012, from both existing customers and those that have
recently implemented and launched services with Planet Payment. However, the
Company may continue to see slower growth in Consolidated Gross Billings and
[net revenue from existing customers, as a result of the macro-economic
downturn affecting businesses around the world. The Company intends to
continue to invest in supporting new business, implementations in new markets
and growing the pipeline, although the benefit of these investments may only
be realized in subsequent periods. Based on these and other factors referenced
above, the Company estimates full year net revenue to be in the range of
$43.0m to $43.5m, net loss for 2012 to be in the range of ($4.2)m to ($4.7)m
and Adjusted EBITDA to be in the range of $2.3m to $2.8m (See Table 3 for
reconciliation of estimated net loss to estimated Adjusted EBITDA).

NASDAQ LISTING

The Company plans to file an amendment to its Form 10 in the next few weeks
with a view to completing the process of becoming a NASDAQ listed company by
the end of 2012.

Commenting on the results, Philip Beck, Chairman and CEO of Planet Payment
said:

"Our third quarter financial results reflect the continued impact of the
global economic environment during the year. We are pleased that we continue
to build a strong pipeline for the future and are excited by the new
opportunities that lie ahead of us, especially in the Latin American region.
We are delighted to have been selected by Cielo in Brazil to deliver our
innovative products to its customers.In pushing ahead with our NASDAQ listing,
we believe this will mark another important milestone in the Company's
development and be of significant benefit to the Company's shareholders,
customers and employees."

Additional breakdown on the Company's performance can be found in the
Management's Discussion and Analysis of Financial Condition and Results of
Operations included in the Company's Third Quarter Report. In accordance with
the rules of the OTCQX market, the Company's Third Quarter Report, including
its Consolidated Condensed Financial Statements (unaudited), as of and for the
nine and three month periods ended September 30, 2012, have been posted on the
OTCQX website at www.otcqx.com and on the Company's website at
www.planetpayment.com.

Forward-Looking Statements. Information contained in this announcement may
include 'forward-looking statements'. All statements other than statements of
historical facts included herein, including, without limitation, those
regarding the financial position, business strategy, plans and objectives of
management for future operations of both Planet Payment and its business
partners, estimated net revenue, net loss and Adjusted EBITDA, plans to effect
a NASDAQ listing, an intended definitive agreement and future service launches
with Cielo, and other customers and new initiatives and customer pipeline are
forward-looking statements. Such forward-looking statements are based on a
number of assumptions regarding Planet Payment's present and future business
strategies, and the environment in which Planet Payment expects to operate in
future, which assumptions may or may not be fulfilled in practice. Actual
results may vary materially from the results anticipated by these
forward-looking statements as a result of a variety of risk factors,
including, regulatory changes and changes in card association regulations and
practices; changes in domestic and global economic conditions and changes in
volume of international travel and commerce, the impact of the BPS
acquisition, delays in customer implementations and others. See the Company's
Quarterly Report for the period, filed at www.otcqx.com, for other risk
factors which investors should consider. These forward-looking statements
speak only as to the date of this announcement and cannot be relied upon as a
guide to future performance. Planet Payment expressly disclaims any obligation
or undertaking to disseminate any updates or revisions to any forward-looking
statements contained in this announcement to reflect any changes in its
expectations with regard thereto or any change in events, conditions or
circumstances on which any statement is based.

NON-GAAP MEASURES

The Company provides certain non-GAAP financial measures in this statement in
order to provide investors with additional perspective of underlying business
trends and results. In addition, management utilizes these measures in
monitoring performance. These non-GAAP key business indicators, which include
Adjusted EBITDA, should not be considered replacements for, and should be read
in conjunction with, the GAAP financial measures.

We define Adjusted EBITDA as GAAP net (loss) income adjusted to exclude (1)
interest expense, (2) interest income, (3) provision (benefit) for income
taxes, (4) depreciation and amortization, (5) stock‑based expense from options
and warrants and (6) certain other items management believes affect the
comparability of operating results. Please see "—Adjusted EBITDA" below for
more information and for a reconciliation of Adjusted EBITDA to net (loss)
income, the most directly comparable financial measure calculated and
presented in accordance with GAAP.

  Table 1. Reconciliation of Net (Loss) Income to Adjusted EBITDA (non-GAAP)

       For the three and nine months ended September 30, 2012 and 2011

The following table sets forth the reconciliation of Adjusted EBITDA to net
(loss) income, our most directly comparable financial measure in accordance
with GAAP:


                              Three months ended      Nine months ended
                              September 30,           September 30,
                              2012         2011       2012         2011
ADJUSTED EBITDA:                                                 
Net (loss) income              $(3,961,815) $(375,414) $(4,333,290) $600,311
Interest expense               14,163       19,378     42,738       307,796
Interest income                (513)        (156)      (926)        (804)
(Benefit) provision for income (17,076)     106,260    213,622      106,260
taxes
Depreciation and amortization  744,602      656,726    2,052,063    1,837,147
Expensing of deferred IPO      2,578,770    --         2,578,770    --
costs(1)
Stock‑based expense            284,071      208,663    824,468      435,154
Acquisition deal costs         323          --         122,078      --
Convertible debt prepayment    --           --         --           601,318
fee(2)
Derecognition of note          --           (40,000)   --           (700,000)
payable(3)
Adjusted EBITDA (non-GAAP)     $(357,475)   $575,457   $1,499,523   $3,187,182


  (1) In connection with the preparation of the financial statements as of and
  for the periods ended September 30, 2012 we determined that it is likely
  that our IPO will be postponed for a period in excess of 90 days and as a
  result deemed it to be an aborted offering in accordance with the guidance
  set forth in ASC 340-10-S99-1. For the three months ending September 30,
  2012, we expensed previously deferred IPO costs of $2.3 million associated
  with our registration statement on Form S-1 as well as any IPO costs
  incurred in the third quarter to selling, general and administrative
  expenses. The total amount of the third quarter expense was $2.6 million.

  (2) In April 2011, the convertible debt holders converted the outstanding
  principal amount of $9.0 million under convertible notes issued in 2007 and
  2008 into an aggregate of 4,049,776 shares of common stock. In addition, we
  issued 127,318 shares of common stock valued at $0.3 million in lieu of cash
  payments for accrued interest and 297,682 shares of common stock valued at
  $0.6 million as a prepayment fee negotiated at the time of conversion. The
  shares issued for the accrued interest and the prepayment fee were valued at
  the average closing price of our common stock on AIM under the symbol "PPTR"
  during the 10 trading day period ending two days prior to the conversion.

  (3) In 2003, we entered into an agreement with FHMS and FTB and recorded a
  liability. Due to a breach of the contractual terms by FHMS and FTB, we did
  not believe we were liable to repay these amounts. As of March 31, 2011, the
  statute of limitations had expired on $0.66 million of the $0.7 million
  balance and as of September 30, 2011, the statute of limitations had expired
  on the remaining $40,000. For the three months ended March 31, 2011, we
  recorded other income due to the derecognition of the note payable in the
  amount of $0.7 million.

                     Table 2. Explanation of Key Metrics


Consolidated Gross     Represents Gross Foreign Currency Mark-up plus payment
Billings               processing services revenue.
                       Represents the Gross Foreign Currency Mark-up amount on
                       settled dollar volume processed using our
Gross Foreign Currency multi‑currency processing services. Gross Foreign
Mark-up                Currency Mark-up represents multi‑currency processing
                       services net revenue plus amounts paid to acquiring
                       banks and their merchants associated with such
                       multi‑currency processing transactions.
                       The Company considers a merchant location to be active
                       as of a date if the merchant completed at least one
Active merchant        revenue‑generating transaction at the location during
locations              the 90-day period ending on such date. The total number
                       of active merchant locations exceeds the total number
                       of merchants, as merchants may have multiple locations.

    Table 3. Reconciliation of Forward-Looking Net Loss to Forward-Looking
             Adjusted EBITDA (Non-GAAP) (US Dollars in Millions)

                    For the Year ending December 31, 2012


                               Year ending December 31, 2012
                               Estimated Range
                                             
Net loss                        $(4.7)         $(4.2)
Interest expense                0.1            0.1
Interest income                 (0.0)          (0.0)
Provision for income taxes      0.3            0.3
Depreciation and amortization   2.8            2.8
Expensing of deferred IPO costs 2.6            2.6
Stock‑based expense             1.1            1.1
Acquisition deal costs          0.1            0.1
Adjusted EBITDA (non-GAAP)      $2.3           $2.8


                                                          

Planet Payment,Inc. condensed consolidated balance sheets (unaudited)

                                       As of September 30, As of December 31,
                                       2012                2011
Current assets:                                            
Cash and cash equivalents               $5,319,950          $7,671,963
Restricted cash                         2,299,942           1,941,909
Accounts receivable, net of allowances
of $1.4 million as of September30,     3,826,280           4,768,040
2012 and December 31, 2011
Prepaid expenses and other assets       1,582,208           947,043
Total current assets                    13,028,380          15,328,955
Other assets:                                              
Restricted cash                         649,974             659,958
Property and equipment, net             1,548,640           1,223,562
Software development costs, net         4,828,587           4,978,002
Intangible assets, net                  3,359,320           799,648
Goodwill                                630,756             --
Security deposits and other assets      311,587             213,230
Deferred IPO costs                      --                  1,650,789
Total other assets                      11,328,864          9,525,189
Total assets                            $24,357,244         $24,854,144
Liabilities and stockholders' equity                       
Current liabilities:                                       
Accounts payable                        $329,944            $993,872
Accrued expenses                        3,870,527           2,482,255
Due to merchants                        2,382,111           2,137,064
Current portion of capital leases       341,536             247,257
liability
Total current liabilities               6,924,118           5,860,448
Long-term liabilities:                                     
Long-term portion of capital leases     518,480             248,730
liability
Total long-term liabilities             518,480             248,730
Total liabilities                       7,442,598           6,109,178
Commitments and contingencies                              
Stockholders' equity:                                      
Convertible preferred stock— 4,000,000
shares authorized, $0.01 par value:
Series A— 2,243,750 issued and          22,438              22,438
outstanding as of September 30, 2012
and December 31, 2011; $8,975,000
aggregate liquidation preference
Common stock—80,000,000 shares
authorized as of September 30, 2012 and
December 31, 2011, $0.01 par value, and 523,776             517,644
52,377,603, and 51,764,405issued and
outstanding as of September 30, 2012
and December 31, 2011, respectively
Additional paid-in capital              96,571,663          94,083,901
Warrants                                1,622,651           1,622,651
Accumulated other comprehensive loss    (31,653)            (40,729)
Accumulated deficit                     (81,794,229)        (77,460,939)
Total stockholders' equity              16,914,646          18,744,966
Total liabilities and stockholders'     $24,357,244         $24,854,144
equity


  The accompanying notes are an integral part of these financial statements

Planet Payment, Inc. condensed consolidated statements of operations
(unaudited)


                             Three months ended      Nine months ended
                             September 30,           September 30,
                             2012         2011       2012         2011
Revenue:                                                        
Net revenue                   $9,925,137   $9,660,128 $31,723,111  $29,527,135
Operating expenses:                                             
Cost of revenue:                                                
Payment processing services   2,724,030    2,630,448  7,941,869    8,273,579
fees
Processing and service costs  2,936,471    2,370,388  8,309,890    6,758,294
Total cost of revenue         5,660,501    5,000,836  16,251,759   15,031,873
Selling, general and          8,229,877    4,949,224  19,549,208   13,580,381
administrative expenses
Total operating expenses      13,890,378   9,950,060  35,800,967   28,612,254
(Loss) income from operations (3,965,241)  (289,932)  (4,077,856)  914,881
Other (expense) income:                                         
Interest expense              (14,163)     (19,378)   (42,738)     (307,796)
Interest income               513          156        926          804
Other income, net             --           40,000     --           98,682
Total other expense, net      (13,650)     20,778     (41,812)     (208,310)
(Loss) income before benefit  (3,978,891)  (269,154)  (4,119,668)  706,571
(provision) for income taxes
Benefit (provision) for       17,076       (106,260)  (213,622)    (106,260)
income taxes
Net (loss) income             $(3,961,815) $(375,414) $(4,333,290) $600,311
Basic net (loss) income per
share applicable to common    $(0.08)      $(0.01)    $(0.08)      $0.01
stockholders
Diluted net (loss) income per
share applicable to common    $(0.08)      $(0.01)    $(0.08)      $0.01
stockholders
Weighted average common stock 52,366,739   50,794,219 52,062,429   48,834,130
outstanding (basic)
Weighted average common stock 52,366,739   50,794,219 52,062,429   51,593,111
outstanding (diluted)


  The accompanying notes are an integral part of these financial statements

Planet Payment, Inc. condensed consolidated statements of comprehensive (loss)
income (unaudited)


                                Three months ended      Nine months ended
                                September 30,           September 30,
                                2012         2011       2012         2011
                                                                  
Net (loss) income                $(3,961,815) $(375,414) $(4,333,290) $600,311
Foreign currency translation     74,765       (18,385)   9,076        (16,655)
adjustment
Total comprehensive (loss)       $(3,887,050) $(393,799) $(4,324,214) $583,656
income


  The accompanying notes are an integral part of these financial statements

Planet Payment, Inc. Condensed Consolidated Statements of Cash Flows
(unaudited)


                                                     Nine months ended
                                                     September 30,
                                                     2012         2011
Cash flows from operating activities:                             
Net (loss) income                                     $(4,333,290) $600,311
Adjustments to reconcile net (loss) income to net                 
cash provided by operating activities:
Stock option expense                                  824,468      420,226
Depreciation and amortization expense                 2,052,063    1,837,147
Provision for doubtful accounts                       85,052       75,384
Expensing deferred IPO costs                          2,346,210    --
Deferred income taxes                                 (66,009)     --
Non‑cash interest expense on convertible debt         --           254,636
Warrant expense                                       --           14,928
Common stock issued for payment of account payable    --           20,000
Derecognition of note payable                         --           (700,000)
Non-cash prepayment fee on conversion of convertible  --           601,318
debt
Changes in operating assets and liabilities, net of               
effects of acquisitions
(Increase) decrease in settlement assets              (358,033)    151,706
Decrease (increase) in accounts receivables, prepaid  544,110      (1,455,920)
expenses and other current assets
(Increase) decrease in security deposits and other    (8,066)      34,474
assets
(Decrease) increasein accounts payable and accrued   (250,142)    1,411,866
expenses
Increase (decrease) in due to merchants               245,047      (159,855)
Other                                                 (17,226)     (3,742)
Net cash provided by operating activities             1,064,184    3,102,479
Cash flows from investing activities:                             
Decrease in restricted cash                           9,984        127,234
Purchase of property and equipment                    (189,685)    (80,935)
Capitalized software development                      (1,037,742)  (1,431,347)
Purchase of intangible assets                         (75,490)     (61,490)
Cash paid for business combination, net of cash       (1,577,829)  --
acquired
Net cash used in investing activities                 (2,870,762)  (1,446,538)
Cash flows from financing activities:                             
Proceeds from issuance of common stock                67,680       247,764
Principal payments on capital lease obligations       (258,584)    (214,629)
Payment of IPO costs                                  (354,531)    (859,077)
Net cash (used in) provided by financing activities   (545,435)    (825,942)
Effect of exchange rate changes on cash and cash      --           --
equivalents(*)
Net (decrease) increase in cash and cash equivalents  (2,352,013)  829,999
Beginning of period                                   7,671,963    5,182,499
End of period                                         $5,319,950   $6,012,498
Supplemental disclosure:                                          
Cash paid for:                                                    
Interest                                              $41,804      $53,160
Income taxes                                          304,989      106,260
Non cash investing and financing activities:                      
Convertible debt converted to common stock            $--          $8,979,926
Common stock issued for BPS acquisition               1,596,862    --
Common stock issued for stock options and warrants    685          --
exercised
Assets acquired under capital leases                  550,878      283,103
Derecognition of note payable                         --           700,000
Prepayment fee on conversion of convertible debt      --           601,318
Accrued IPO Costs                                     --           477,639


  (*) For the nine months ended September 30, 2012 and 2011, the effect of
  exchange rate changes on cash and cash equivalents was inconsequential.

  The accompanying notes are an integral part of these financial statements

Planet Payment, Inc. Condensed Consolidated Statements of Changes in
Convertible Preferred Stock and Stockholders' Equity (unaudited)


                  Convertible
                  preferred stock   Common stock
                 $0.01 par value—  $0.01 par value—                                                   
                  4,000,000 shares  80,000,000 shares
                  authorized
                  SeriesA
                                                                                                  
                            Shares             Shares   Additional             Accumulated                 Total
                 Shares    par     Shares     par      paid-In     Warrants   other         Accumulated   stockholders'
                  issued    value   issued     value    capital                comprehensive deficit       equity
                                                                               loss
Balance—December  2,243,750 $22,438 51,764,405 $517,644 $94,083,901 $1,622,651 $(40,729)     $(77,460,939) $18,744,966
31, 2011
Options exercised —         —       124,861    1,248    66,432      —          —             —             67,680
Issuance of
common shares –   —         —       488,337    4,884    1,596,862   —          —             —             1,601,746
Acquisition of
BPS
Stock-based       —         —       —          —        824,468     —          —             —             824,468
expense
Cumulative
translation       —         —       —          —        —           —          9,076         —             9,076
adjustment
Net loss          —         —       —          —        —           —          —             (4,333,290)   (4,333,290)
Balance—September 2,243,750 $22,438 52,377,603 $523,776 $96,571,663 $1,622,651 $(31,653)     $(81,794,229) $16,914,646
30, 2012

  The accompanying notes are an integral part of these financial statements

Planet Payment,Inc.

Notes to Condensed Consolidated Financial Statements (unaudited)

1. Business description and basis of presentation

Business description

Planet Payment,Inc. together with its wholly owned subsidiaries ("Planet
Payment," the "Company," "we," or "our") is a provider of international
payment processing and multi‑currency processing services. The Company
provides its services to approximately 38,000 active merchant locations in 18
countries and territories across the Asia Pacific region, North America, the
Middle East, Africa and Europe, primarily through its acquiring bank and
processor customers, as well as through its own direct sales force. The
Company's point-of-sale and e-commerce services are integrated within the
payment card transaction flow and enable its acquiring customers to process
and reconcile payment transactions in multiple currencies, geographies and
channels. The Company is a registered third party processor with the major
card associations and operates in accordance with industry standards,
including the Payment Card Industry, or PCI, Security Council's Data Security
Standards.

Company structure

Planet Payment was incorporated in the State of Delaware on October12, 1999
as Planet GroupInc. and changed its name to Planet Payment,Inc. on June18,
2007.

Since March20, 2006, shares of the Company's common stock have traded on the
Alternative Investment Market of the London Stock Exchange, or AIM, under the
symbols "PPT" and "PPTR." Since November19, 2008, shares of the Company's
common stock have traded on the OTCQX market tier operated by OTC Markets
Group,Inc., or the OTCQX, in the United States under the symbol "PLPM."

Basis of presentation

The condensed consolidated financial statements of the Company have been
prepared in accordance with accounting principles generally accepted in the
United States of America ("USGAAP").

The accompanying condensed consolidated financial statements include the
accounts of Planet Payment,Inc. and its wholly‑owned subsidiaries. All
intercompany transactions and balances have been eliminated.

The Company evaluated subsequent events through November 26, 2012, the date on
which the September 30, 2012 financial statements were available to be issued.
There were no events or transactions during this subsequent reporting period
that require recognition or disclosure in the financial statements, except as
noted below.

In October 2012, the east coast of the United States was hit by Hurricane
Sandy, including the city of Long Beach, where the Company's corporate offices
are located.The aftermath of this event caused temporary disruption to
certain functions undertaken at that office and caused us to incur additional
costs for repairs, temporary office space and other requirements to maintain
or re-establish these functions. While the Company insures against such
property damage and business interruption risks, such insurance may not
adequately compensate the Company for losses incurred. Based on the
information available to us today the Company estimates that the impact of
such losses to be approximately $0.1 million.At no time were any of our
transaction processing functions or systems affected by the storm and
accordingly none of our customers suffered any loss of transactions.

Unaudited consolidated interim financial information

The accompanying unaudited condensed consolidated interim financial statements
as of September 30, 2012 and for the periods ended September 30, 2012 and 2011
have been prepared on the same basis as the annual consolidated financial
statements. In the opinion of management, the unaudited financial information
for the interim periods presented reflects all adjustments, which are normal
and recurring, necessary for a fair presentation of the statement of
operations, financial position and cash flows. Operating results for the
interim periods ended September 30, 2012 are not necessarily indicative of the
results that may be expected for the year ending December 31, 2012.The
December31, 2011 balance sheet information has been derived from the audited
financial statements at that date but does not include all disclosures
required by GAAP.

CONTACT: Enquiries:
        
         Planet Payment, Inc.
         Robert Cox (CFO)
         Tel: + 1 516 670 3200
         www.planetpayment.com
        
         Redleaf Polhill (UK PR for Planet Payment)
         Emma Kane / Henry Columbine / David Ison
         Tel: +44 20 7566 6720
         planet@redleafpolhill.com
        
         ICR (US PR for Planet Payment)
         Don Duffy / Dara Dierks
         Tel: +1 646-277-1212
        
         Canaccord Genuity Ltd (UK) (Nomad for Planet Payment)
         Simon Bridges / Andrew Chubb
         Tel: +44 20 7523 8000
        
         Canaccord Genuity, Inc. (US) (DAD for Planet Payment)
         Andy Viles
         Tel: +1 617-371-3900
 
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