Press release: First Meta CEO announces MetaPoints

First Meta will continue to provide a full suite of financial services to the virtual world. 28 January 2008. First Meta(TM) will continue to offer both its MetaCard(TM) and MetaSavings(TM) products to customers in Second Life®. Effective today, we will make two changes to our MetaSavings(TM) accounts following our discussions with Linden Lab® regarding their new policy on in-world “banks”.

• 1. We will discontinue L$ interest on MetaSavings(TM) accounts
• 2. We will introduce our MetaPoints Rewards Program(TM) for MetaSavings(TM) customers

Beginning 1 February 2008, MetaSavings(TM) customers will earn MetaPoints(TM) every month based on the level of balances in their account. Customers will be able to use their MetaPoints(TM) to redeem for a wide range of goods and services in Second Life. From 1 March onwards, MetaPoints(TM) can be used to:

• * Redeem for goods and services from our MetaPoints Rewards(TM) catalog
• * Exchange for products at MetaPoints Rewards(TM) redemption stores and outlets
• * Send gifts to friends from MetaPoints Rewards(TM) redemption stores and outlets
• * Receive complimentary gifts
• * Receive special discounts at participating MetaCard(TM) merchant stores
• * Participate in lucky draws and raffles
• * Transfer credit to MetaCardTM accounts

We will be introducing more uses for MetaPoints(TM) over the next few months, including the ability to redeem MetaPoints(TM) for all MetaCard(TM) products at all MetaCard(TM) Stores.

As a token of our appreciation, each First Meta customer in good standing will receive 250 MetaPoints(TM).

MetaPoints(TM) allow MetaSavings(TM) customers to increase their purchasing power in the virtual world through maintaining a virtual currency savings account. The MetaPoints Rewards Program(TM) represents a breakthrough in virtual economies by enabling residents in Second Life to increase their purchasing power in the virtual world while saving L$, without encouraging virtual currency speculation.

Our MetaCard(TM) is not affected by the new regulations. However, we are also announcing today a reduction in interest rates on our MetaCard(TM) Gold and MetaCard(TM) Corporate.

First Meta(TM) fully supports regulation of financial activity in the virtual economy. We are committed to building a strong virtual economy together with our customers.

Sincerely,

Douglas Abrams (JP Mougin)
Chief Executive Officer
First Meta Pte. Ltd.