Net Element International, Inc. Announces Share Repurchase Plan

  Net Element International, Inc. Announces Share Repurchase Plan

Business Wire

MIAMI -- December 10, 2012

Net Element International, Inc. (NASDAQ: NETE), a technology driven group in
mobile commerce and payment processing, as well as in entertainment and
culture Internet destinations in Russia and other emerging markets, today
announced that its Board of Directors adopted a plan to repurchase up to USD
$2.5 million of issued and outstanding shares of Net Element’s common stock in
the open market or in privately negotiated transactions during the 24-month
period ending December 10, 2014. Net Element currently has approximately 28.3
million shares of common stock outstanding.

Repurchases will be made under the plan using Net Element’s own cash
resources. These repurchases, if and when effectuated, will be made subject to
market conditions, applicable legal requirements (including federal and state
securities laws as well as rules and regulations of the United States
Securities and Exchange Commission) and other factors. This plan does not
obligate Net Element to acquire any particular amount of common stock and the
plan may be modified, extended or terminated at any time at Net Element’s
discretion.

This press release does not constitute an offer to sell, or the solicitation
of an offer to buy, these securities, nor will there be any sale of these
securities, in any state or other jurisdiction in which such offer,
solicitation or sale is prohibited.

About Net Element International, Inc.:

Net Element International Inc. (NASDAQ: NETE) is a technology driven group in
mobile commerce and payment processing, as well as in entertainment and
culture Internet destinations in Russia and other emerging markets. Net
Element owns and operates a mobile-commerce company, TOT Money, as well as
several Internet properties that create social and business communities in the
entertainment, music, motorsports and film industries. Net Element’s portfolio
includes: www.TOTmoney.ru; www.Motorsport.com; www.Openfilm.com;
www.Music1.ru; www.ARLive.com and www.Yapik.com. For more information, visit
www.NetElement.com.

Forward-Looking Statements:

This press release contains forward-looking statements that are subject to the
safe harbors created under the Securities Act of 1933, as amended, and the
Securities Exchange Act of 1934, as amended. These statements relate to future
events or Net Element’s future financial performance and can be identified by
the use of forward-looking terminology such as “estimate,” “project,”
“forecast,” “plan,” “believe,” “may,” “expect,” “anticipate,” “intend,”
“planned,” “potential,” “can,” “expectation” and similar expressions, or the
negative of those expressions. These forward-looking statements are based on
management’s reasonable current assumptions and expectations. Such
forward-looking statements involve risks, uncertainties and other factors
which may cause Net Element’s actual results, levels of activity, performance
or achievement to be materially different from any future results expressed or
implied by such forward-looking statements, and there can be no assurance that
actual results will not differ materially from management’s expectations.
Please refer to the risk factors contained in Net Element’s filings with the
Securities and Exchange Commission available at www.sec.gov, including Net
Element’s most recent Annual Report on Form 10-K, its Quarterly Reports on
Form 10-Q and its Current Reports on Form 8-K. Readers are cautioned not to
place undue reliance on any forward-looking statements, which speak only as of
the date on which they are made. Net Element undertakes no obligation to
update or revise any forward-looking statements for any reason.

Contact:

Net Element International, Inc.
Francesco Piovanetti, 787-993-9650