Prepaid Card Holdings Inc. CEO Sets Up Employee Stock Option Trust

LAS VEGAS--(BUSINESS WIRE)--Prepaid Card Holdings, Inc. (Pink Sheets: PPDC) announced today the Company's CEO has set up an Employee Stock Option Trust for current and future employees of the company.

On September 10^th, 2009, Prepaid Card Holdings, Inc. filed a lawsuit against the company’s former COO Robert Christiansen for fraud and concealment, breach of fiduciary duty, and Conversion. As part of the lawsuit, Prepaid Card Holdings, Inc is seeking the return of options to purchase 63,750,000, of Prepaid Card Holdings, Inc CEO Bruce Berman’s personal shares. If the lawsuit results in the return of any of these Options, Mr. Berman has agreed to place those Options into a trust for the benefit of current and future employees other than Bruce Berman. Under the trust agreement, Mr. Berman must assign any returned Options to employees within 12 months of their return from Mr. Christiansen.

There can be no assurance that the company will be successful in its litigation, and there accordingly can be no assurance that any Options will be returned, placed into the trust, or re-issued to the employees of Prepaid Card Holdings, Inc.

About Prepaid Card Holdings, Inc.

Prepaid Card Holdings, Inc. through a wholly owned subsidiary offers emerging prepaid card solutions that can act as an alternative to a traditional checking account and debit card. For more Information visit www.PrepaidCardHoldings.com.

FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management’s belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties and the Company assumes no obligation to update any of the forward-looking statements in this release.

Prepaid Card Holdings, Inc.
Bruce Berman, 949-250-9556 ext. 128