Net Element Hires Former CFO of Groupon Russia for TOT Group Russia

  Net Element Hires Former CFO of Groupon Russia for TOT Group Russia

 New CFO Irina Bukhanova is an Experienced Leader in Web, Mobile Banking and
                            Big Data Environments

Business Wire

MIAMI -- May 08, 2013

Net Element International (NASDAQ: NETE), a technology-driven group
specializing in electronic commerce and mobile payment processing, today
announced that Irina Bukhanova has been appointed the CFO of TOT Group Russia.
Ms. Bukhanova is the former CFO of Groupon Russia and is an experienced leader
in web, mobile banking and big data environments. She has held senior
positions at several leading institutions including the Moscow Region
Government, Svyaznoy Group, Rocket Bank, PO-Birulewski, and Ritzio
International - all organizations that are directly relevant to the broad
spectrum of companies operating under the Net Element umbrella.

Irina Bukhanova has worked with both small and large companies in the private
and public arenas and her very recent employment with Svyaznoy Group,
including her oversight and support of their start-up companies in the field
of consumer research and big data, are well aligned to TOT Group’s business
model. Ms. Bukhanova’s formal education includes advanced degrees from the
Finance Academy under the Government of the Russian Federation with a
Specialization in Financial Management as well as from the Moscow Credit
College of the Moscow Department of Education with a Specialty in Banking.

Net Element’s CEO, Oleg Firer, said, “I am pleased to welcome Irina Bukhanova
as CFO of TOT Group Russia. Her global experience, especially in the
consumer-centric mobile telecommerce industry, is specifically pertinent to
TOT Money, our mobile payment gateway for Premium SMS and Mobile Commerce in
emerging markets. Additionally, Ms. Bukhanova’s tenure in the gaming and media
field with Ritzio International will be very valuable as we execute our
strategy of extending our entertainment programs internationally, with a
particular focus on Russia and the CIS region.”

“It is very clear that TOT Group is a company on the move in an industry that
is exciting and dynamic,” said Ms. Bukhanova, adding, “The recent announcement
by Beeline that TOT Money has become their top ranking SMS content provider
for two consecutive months - after debuting only six months earlier - is
tangible evidence of their potential and prowess in this market. When you
consider other complementary Net Element brands such as Unified Payments, it
is easy to see how the different operating groups have synergistic business
value.”

About Net Element International (NASDAQ: NETE)

Net Element International (NASDAQ: NETE) is a global technology-driven group
specializing in electronic commerce, mobile payments and transactional
services. The company owns and operates a global mobile payments and
transaction processing provider, TOT Group, as well as several popular content
monetization verticals. Together with its subsidiaries, Net Element
International enables ecommerce and content-management companies to monetize
their assets in ecommerce and mobile commerce environments. Its global
development centers and high-level business relationships in the United
States, Russia and Commonwealth of Independent States strategically position
the company for continued growth. The company has U.S. headquarters in Miami
and international headquarters in Moscow. More information is available at
www.netelement.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Any statements contained in this
press release that are not statements of historical fact may be deemed
forward-looking statements. Words such as “continue,” “will,” “may,” “could,”
“should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,”
“estimate,” “predict,” “potential,” and similar expressions are intended to
identify such forward-looking statements. These forward-looking statements
include, without limitation, whether Net Element International or its business
continues to grow. All forward-looking statements involve significant risks
and uncertainties that could cause actual results to differ materially from
those expressed or implied in the forward-looking statements, many of which
are generally outside the control of Net Element International and are
difficult to predict. Examples of such risks and uncertainties include, but
are not limited to: (i) Net Element International’s ability (or inability) to
obtain additional financing in sufficient amounts or on acceptable terms when
needed; (ii) Net Element International’s ability to maintain existing, and
secure additional, contracts with users of its payment processing services;
(iii) Net Element International’s ability to successfully expand in existing
markets and enter new markets; (iv) Net Element International’s ability to
successfully manage and integrate any acquisitions of businesses, solutions or
technologies; (v) unanticipated operating costs, transaction costs and actual
or contingent liabilities; (vi) the ability to attract and retain qualified
employees and key personnel; (vii) adverse effects of increased competition on
Net Element International’s business; (viii) changes in government licensing
and regulation that may adversely affect Net Element International’s business;
(ix) the risk that changes in consumer behavior could adversely affect Net
Element International’s business; (x) Net Element International’s ability to
protect its intellectual property; and (xi) local, industry and general
business and economic conditions. Additional factors that could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements can be found in the most recent annual report on
Form 10-K and the subsequently filed quarterly reports on Form 10-Q and
current reports on Form 8-K filed by Net Element International with the
Securities and Exchange Commission. Net Element International anticipates that
subsequent events and developments may cause its plans, intentions and
expectations to change. Net Element International assumes no obligation, and
it specifically disclaims any intention or obligation, to update any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as expressly required by law.

Contact:

Net Element
Dan Bruck, 305-507-8808
dbruck@netelement.com
www.netelement.com
 
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