Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Net 1 UEPS Technologies Inc.

   Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Net 1 UEPS
                              Technologies Inc.

PR Newswire

NEW YORK, Feb. 4, 2013

NEW YORK, Feb. 4, 2013 /PRNewswire/ --Attorney Advertising --Bronstein,
Gewirtz & Grossman, LLC is investigating potential claims on behalf of
purchasers of the securities of Net 1 UEPS Technologies Inc. ("Net 1" or the
"Company") (NasdaqGS: UEPS), concerning potential violations of federal
securities laws.

The investigation is focused on the Company's December 4, 2012 disclosure that
it received a letter from the US Department of Justice, Criminal Division
(the"DOJ") on November 30 informing the Company that the DOJ and the FBI are
investigating whether the company had made corrupt payments to South African
government officials to secure a contract with the South African Social
Security Agency ("SASSA"). The alleged payments relate to securing a contract
with SASSA to provide social welfare and benefits payments. The DOJ and FBI
are also investigating whether Net 1 engaged in violations of the federal
securities laws in connection with statements made by the Company in its SEC
filings regarding this contract. The Company further disclosed that the SEC's
Division of Enforcement has advised Net 1 that it is also conducting an
investigation of the Company.

If you are aware of any facts relating to this investigation, or purchased
shares of Net 1, you can assist this investigation by contacting either Peretz
Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at
212-697-6484 or via email Those who inquire by e-mail are
encouraged to include their mailing address and telephone number.

The firm is also investigating actions on behalf of shareholders for the
following companies: Spirit AeroSystems Holdings Inc. (NYSE: SPR); Universal
Technical Institute, Inc. (NYSE: UTI), Commonwealth Bankshares, Inc. (OTC:
CWBS). If you are a shareholder of any of the above companies and wish to
learn more about any of the investigations or have any questions, please
contact us at the number or email listed below.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our
primary expertise is the aggressive pursuit of litigation claims on behalf of
our clients. In addition to representing institutions and other investor
plaintiffs in class action security litigation, the firm's expertise includes
general corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not guarantee similar

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484

SOURCE Bronstein, Gewirtz & Grossman, LLC
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