Prepaid Card Holdings, Inc. CEO Bruce Berman Waives Salary For The Remainder Of 2009

LAS VEGAS--(BUSINESS WIRE)--Prepaid Card Holdings, Inc. (Pink Sheets:PPDC) announced today CEO Bruce Berman agreed to waive his salary for the remainder of 2009. Mr. Berman previously waived his salary for the entire calendar year of 2008 and in February 2009 agreed to a 70% decrease in salary.

Prepaid Card Holdings, Inc. filed a lawsuit versus Robert Christiansen alleging Breach of Fiduciary Duty, Fraud and Concealment, and Conversion case number 00301495, on Thursday, September 10^th, 2009 in the Superior Court in the state of California, in the county of Orange. Since that time, Mr. Berman has not accepted a paycheck from the company and has now agreed to not accept or accrue a paycheck for the rest of 2009 in order to not affect the company’s operational cash flow from this legal action this year.

Last week, Mr. Berman set up a trust for company employees in case he was awarded any direct stock benefit from the litigation.

Bruce Berman, CEO of Prepaid Card Holdings, Inc, stated, “Because of the complexity of various agreements in place I set up the employee trust last week to make sure there was no way possible for the options in the litigation to go to me personally.”

About Prepaid Card Holdings, Inc.

Prepaid Card Holdings, Inc. is a publicly traded holding company whose current holdings consist of a 100% interest in Merchant Processing International Inc. DBA Bank Freedom and the Berman Marketing Group, Inc. a multi-channel direct market firm specializing in direct response marketing through Television, Radio, Internet and Print media.

For further information contact Bruce Berman at 877-237-6260 ext. 128 or visit the Company website at 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, 877-237-6260 ext. 128