Milestone Group PLC : Two New Contracts Worth &...

MILESTONE GROUP PLC
("Milestone" or the "Company")

Two New Contracts Worth £0.5m

Milestone Group Plc (Milestone), the AIM quoted (AIM: MSG) provider of digital media and technology solutions, announces that Black Cactus Holdings, which is in joint venture with Nexstar, a subsidiary of Milestone, has entered into contracts with two London-based finance and investment companies, to provide cloud-based virtual banking with an accompanying pre-paid card to their clients.

Both of these new contracts will be launched in the second quarter of the current calendar year and are expected to generate revenues in excess of £500,000 in the first full year of operation for the Nexstar joint venture, 40% of which would accrue to Milestone. These contracts represent the first the company has announced with regards to the Nexstar joint venture and Black Cactus' technology suite in this exciting new application area.

The technology suite, which these contracts are concerned with, is just one of a number of innovative technology solutions spanning several industries that the joint venture is involved with. 

Deborah White, CEO of Milestone Group commented:
"This is an important milestone for the group as we start to see the exciting potential of the Nexstar Joint Venture. We are encouraged by the interest that has been shown in the suite of products and expect that this announcement is the first of a number of revenue enhancing deals to be announced."

For further information:

Milestone Group plc
Deborah White, Chief Executive                                Tel: [phone]

Cairn Financial Advisers LLP, Nominated Adviser             
Liam Murray / Avi Robinson                                       Tel: [phone]

Hybridan LLP, Broker
Claire Louise Noyce                                                   Tel: [phone]

Walbrook PR Limited, PR
Gary Middleton / Paul Cornelius / Paul Whittington    Tel: [phone]

About Black Cactus

Black Cactus offers a suite of technology platforms and payment services including virtual accounts, closed and open loop pre-paid cards, payroll support and payment terminals, which can be offered as standalone solutions, or combined to address a partner's specific needs. The combination of a pre-paid debit card and virtual account will allow these new clients to avoid expensive transaction costs associated with traditional international banking and to streamline their existing processes.

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Source: Milestone Group PLC via Globenewswire

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