NBDR No Borders Inc (CE)

No Borders Inc. (Pink Sheets:NBDR) announced today the launching of its next generation fully integrated money transfer platform offered to licensed money transmitter companies and financial institutions. No Borders has deployed and is fully operational with the hosted application and service in conjunction with Palmeras Financial, a licensed money transmitter company based in Florida. The noboNET platform provides a technology platform providing all features of a money transfer operation including funds collection, customer identification, foreign exchange conversion, funds distribution and is fully compliant with state and federal regulations. The noboNET platform provides licensed money transmitter companies and financial institutions the capability to outsource their technology operation while retaining full control of their merchant and consumer base and subsequent movement of funds between their banking relationships for the purpose of effecting money transfers globally. The noboNET platform is capable of handling both international money transfers from start to finish in a single automated service bureau process. "Although a number of U.S. and International money transmitter companies and financial institutions are currently equipped to process all aspects of international money transfers, most are not and these institutions can now utilize a fully automated outsourced service provided by No Borders, thus eliminating the cost of ownership of the technology necessary to do so," says No Borders President Raul Hinojosa. "We are offering a number of the same technology services traditionally provided by some financial institutions and money transmitter companies but at a fraction of the cost necessary to perform consumer based money transfers. For banks and money transmitter companies, this means quick, cost-effective access to international money transfer payout channels," Dr. Raul Hinojosa said. "Even those financial institutions that are already members of traditional domestic and international payment networks can make significant savings on operating costs for consumer based money transfers while facilitating access to markets not traditionally served." "Movement of the Palmeras technology platform to the noboNET outsourced platform has resulted in considerable savings and elimination of technology headaches. The added features and web and customer service center based features, along with the full automation of all steps in a complicated money transfer transaction has allowed my organization to focus on serving customers and marketing rather than spending resources on non revenue generating activities," said Enrique Benitez, President of Palmeras Financial. "We have already processed millions of dollars of face value money transfers to Latin America and the system has worked flawlessly." No Border's noboNET deployment is the first stage of other products and services that will be added to the platform including the addition of noboCARD, its prepaid debit card product for the unbanked and migrant community which is scheduled for deployment in 3rd quarter 2006 pending regulatory approval of some card features. "Our noboCARD product is being fully tested on the noboNET platform and will be ready to deploy once all features have been validated," said Hinojosa. "We are excited about the opportunities we have and the deployment of the noboNET platform is the first step towards achieving our company goals." About No Borders, Inc. No Borders, Inc., a Nevada Corporation, is in the business of providing a debit and stored value card platform through which a variety of financial and commercial services and products can be offered to residents of developing countries and to immigrants from those countries who reside in the United States and send money back home on a regular basis. No Borders offers significantly lower cost money transfers through licensed money transmitter partners and financial institutions and long distance telephone services, initially focusing on Latin America, and now adding Pakistan and other countries in Asia, the Middle East and Africa to its focus after completing its alliance with InfoSpan Inc. According to Inter-American Development Bank, Latin American immigrants in the US sent back home an estimated $40 Billion in 2005 with an annual growth rate of about 20%. The Company believes that it will accelerate its penetration into this growing market, first by reducing the excessive costs currently charged to the consumer, and second by offering a full range of financial and commercial services and products to this emerging transnational market, at significantly lower prices. Certain statements in this release and other written or oral statements made by or behalf of the company are "forward looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward-looking statements are subject to a number of risks and uncertainties including market acceptance of the company's services and projects and the company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements were made. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.